IAA, Inc. provides auction solutions for total loss, damaged, and low-value vehicles. The company's platform facilitates the marketing and sale of total loss, damaged, and low-value vehicles for a spectrum of sellers. Its solutions provide buyers with the vehicles need to, among other things, fulfill vehicle rebuild requirements, replacement part inventory, or scrap demand. The company serves a buyer base and spectrum of sellers, including insurance companies, dealerships, fleet lease and rental car companies, and charitable organizations. The company has approximately 200 facilities in the United States, Canada, and the United Kingdom. IAA, Inc. was founded in 1982 and is headquartered in Westchester, Illinois.
IPO Year: 2019
Exchange: NYSE
Website: iaai.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/5/2023 | $46.00 → $44.00 | Outperform → Neutral | Robert W. Baird |
| 11/8/2022 | $40.00 | Buy → Hold | Jefferies |
| 6/9/2022 | $52.00 | Neutral → Buy | Guggenheim |
| 5/10/2022 | $50.00 | Mkt Perform → Outperform | Barrington Research |
| 2/14/2022 | $75.00 → $50.00 | Buy | Truist Securities |
| 2/14/2022 | Buy → Neutral | Guggenheim | |
| 2/11/2022 | Outperform → Mkt Perform | Barrington Research |
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Robert W. Baird downgraded IAA from Outperform to Neutral and set a new price target of $44.00 from $46.00 previously
Jefferies downgraded IAA from Buy to Hold and set a new price target of $40.00
Guggenheim upgraded IAA from Neutral to Buy and set a new price target of $52.00
Barrington Research upgraded IAA from Mkt Perform to Outperform and set a new price target of $50.00
Truist Securities reiterated coverage of IAA with a rating of Buy and set a new price target of $50.00 from $75.00 previously
Guggenheim downgraded IAA from Buy to Neutral
Barrington Research downgraded IAA from Outperform to Mkt Perform
Northcoast upgraded IAA from Neutral to Buy
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Company's ambitious sustainability strategy bolstered by new manager and ISO accreditation IAA, Inc. (NYSE:IAA), a leading global digital marketplace connecting vehicle buyers and sellers, today announced that its UK-based business unit, SYNETIQ Ltd., has appointed its first Sustainability Manager, Elisa Caton, as it aims to ensure environmental awareness is embedded across all its operations. SYNETIQ has also now achieved ISO 50001 – the energy management accreditation which requires an ongoing, sustained improvement in energy efficiency and reduction in greenhouse gas emissions. Caton, who holds a master's degree in environmental science from the University of York and brings with her s
Board Forms Operations Committee IAA, Inc. (NYSE:IAA), a leading global marketplace connecting vehicle buyers and sellers, today announced that it has appointed Michael Sieger to its Board of Directors, effective immediately as of the conclusion of the Company's 2022 annual meeting of stockholders. As a result of the appointment, IAA's Board will expand to 10 directors, 9 of whom are independent. In addition, the IAA Board has formed an Operations Committee focused on driving operational performance. "We look forward to Mike joining the Board," said John Larson, Chairman of the Board of Directors of IAA. "Mike brings decades of valuable automotive insurance industry experience and has a t
Leadership team grows to strengthen product development in global marketplace IAA, Inc. (NYSE:IAA), a leading global digital marketplace connecting vehicle buyers and sellers, has appointed Peg Burr as Senior Vice President of Product Management. Burr will leverage her extensive product strategy and management expertise to further the product leadership position that IAA has established in the industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210602005288/en/IAA Names Peg Burr as SVP of Product Management (Photo: Business Wire) "We are excited to welcome Peg to the team," said IAA CEO and President John Kett. "She has ext
Ritchie Bros. Shareholders Also Approve all Transaction-Related Proposals IAA, Inc. (NYSE:IAA) ("the Company") today announced that its stockholders have adopted the previously announced merger agreement providing for the stock and cash acquisition of the Company by Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") at the Special Meeting of IAA Stockholders held earlier today. In a separate special meeting of shareholders held earlier today, based on a preliminary vote count, Ritchie Bros. shareholders also voted to approve all proposals necessary to consummate the transaction. Accordingly, all stockholder and regulatory approvals required to consummate the tra
Shareholder Approval Marks Important Milestone Toward Completing IAA Transaction and Accelerating Ritchie Bros.' Strategy to Create Premier Global Marketplace with Long Runway for Outstanding Growth and Value Creation VANCOUVER, BC, March 14, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") announced that, based on the preliminary vote count provided by its proxy solicitors following the Company's Special Meeting of Shareholders (the "Special Meeting") held earlier today, Ritchie Bros. shareholders voted to approve the proposed acquisition of IAA, Inc. (NYSE:IAA) ("IAA"). Ritchie Bros. will file final, certified voting results on a Form 8-K w
Significant Growth and Premier Returns Under Current Board and Management Show that Shareholders Should Look to the Future, Not the Past IAA is Right Next Step in Ritchie Bros.' Value Creating Transformation Strategy VANCOUVER, BC, March 13, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today issued the following statement related to the acquisition of IAA, Inc. (NYSE:IAA) ("IAA"): The substantial value created under Ritchie Bros.' current Board of Directors and management team shows that shareholders should look to the future, not the past. We have great respect for Mr. Ritchie as a co-founder of the Company. However, he retired from the C
IAA Acquisition Accelerates Ritchie Bros.' Growth Strategy and Is a Unique Opportunity to Deliver Returns Significantly in Excess of Standalone Value Independent Proxy Advisory Firm Egan-Jones Recommends Ritchie Bros. Shareholders Vote "FOR" All Proposals to Approve Acquisition of IAA Special Meeting of Shareholders is Fast Approaching – Vote Promptly by Internet, Telephone or ProxyEdge Board Continues to Unanimously Recommend that Ritchie Bros. Shareholders Vote "FOR" All Proposals on the WHITE Proxy Card VANCOUVER, BC, March 7, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today reiterated the Board of Directors' unanimous recommendation
Glass Lewis and ISS recommend IAA stockholders vote to approve merger agreement with Ritchie Bros. IAA Board of Directors continues to unanimously recommend stockholders vote FOR the proposed transaction on the WHITE proxy card Special Meeting of IAA stockholders scheduled to be held on March 14, 2023 Transaction unlocks significant value creation for IAA stockholders, driven by the potential for substantial cost synergies and revenue growth opportunities IAA, Inc. (NYSE:IAA) ("the Company") today announced that proxy advisory firms Glass, Lewis & Co. ("Glass Lewis") and Institutional Shareholder Services ("ISS") recommend that IAA stockholders vote to adopt the merger agreement an
ISS Recommends Shareholders Vote Against the IAA Merger Citing Better Standalone Path, Deal Risks, Strategic Rationale, Board Credibility and Deal Process Glass Lewis Criticizes IAA Merger's "Excessive Execution Risk, Procedural Concerns, Questionable Financial Assumptions, Unfavorable Relative Valuation, Dubious Risk/Reward Proposition" in its own Recommendation for Shareholders to Vote Against Merger ISS and Glass Lewis Recommend That Standalone Ritchie Bros. is the Best Alternative for Shareholders NEW YORK, March 06, 2023 (GLOBE NEWSWIRE) -- Luxor Capital Group, LP ("Luxor"), as the manager of funds owning 4.7 million shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:
Ritchie Bros.' Board Is Confident IAA Acquisition Delivers Value for Shareholders that is Superior to that Achievable Under Ritchie Bros.' Standalone Plan Urges All Shareholders to Vote "FOR" All Proposals Listed on the WHITE Proxy Card Today VANCOUVER, BC, March 6, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today provided the following statement in response to reports issued by Glass Lewis & Co. ("Glass Lewis") and Institutional Shareholder Services ("ISS") in connection with the Company's pending acquisition of IAA, Inc. (NYSE:IAA) ("IAA"): The Ritchie Bros. Board of Directors and management team strongly disagree with the recommendati
Vontobel Asset Management, Which Owns 2.15% of Ritchie Bros. Shares, is Yet Another Ritchie Bros. Shareholder to Publicly Support the IAA Acquisition VANCOUVER, BC, March 3, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today issued the following statement regarding the support it is receiving from many shareholders, including among the Company's largest shareholders, as well as industry analysts regarding the acquisition of IAA, Inc. (NYSE:IAA) ("IAA"): Vontobel Asset Management, which owns 2.15% of Ritchie Bros. shares, has joined many other Ritchie Bros.' shareholders, including a number of our largest shareholders, in publicly supportin
Urges All Shareholders to Vote "FOR" All Proposals Listed on the WHITE Proxy Card VANCOUVER, BC, March 3, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today issued the following letter reinforcing the outstanding value creation opportunity presented by the acquisition of IAA, Inc. (NYSE:IAA) ("IAA") and highlighting support the Company is receiving from many shareholders and independent third-party industry analysts. The Company's Special Meeting of Shareholders to vote on proposals necessary to complete the IAA acquisition is scheduled for March 14, 2023. The letter, which is also being mailed to shareholders, and additional materials rel
Ritchie Bros. Urges Shareholders to Vote "FOR" All Proposals Listed on the WHITE Proxy Card VANCOUVER, BC, Feb. 27, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today issued the following letter from the Company's independent members of its Board of Directors in connection with its March 14, 2023 Special Meeting of Shareholders related to the acquisition of IAA, Inc. (NYSE:IAA) ("IAA"). The letter is also being mailed to shareholders and can be found at www.RBASpecialMeeting.com along with other materials related to the Special Meeting. February 27, 2023 Dear Ritchie Bros. Shareholders, As independent members of the Ritchie Bros. Board of
NEW YORK, March 15, 2023 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600: CVR Energy Inc. (NYSE:CVI) will replace Atlas Air Worldwide Holdings Inc. (NASD: AAWW) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, March 21. Apollo Global Management Inc. (NYSE:APO) is acquiring Atlas Air Worldwide Holdings in a transaction expected to close soon pending final conditions. S&P SmallCap 600 constituent Exponent Inc. (NASD: EXPO) will replace IAA Inc. (NYSE:IAA) in the S&P MidCap 400, and Certara Inc. (NASD: CERT) will replace Exponent in the S&P SmallCap 600 effective prior to the opening of trading on Wed
Ancora Holdings Group, LLC (together with its affiliates, "Ancora"), which is the beneficial owner of approximately 4% of the outstanding shares of IAA, Inc. (NYSE:IAA) ("IAA") and 0.5% of the outstanding shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros."), today applauded the approval of the companies' combination. Fredrick D. DiSanto, Chairman and Chief Executive Officer of Ancora, and James Chadwick, President of Ancora Alternatives LLC, commented: "We are very pleased that IAA shareholders and Ritchie Bros. shareholders have approved the revised transaction, which stands to create a dominant player in the industry and a source of long-term value cre
Ritchie Bros. Shareholders Also Approve all Transaction-Related Proposals IAA, Inc. (NYSE:IAA) ("the Company") today announced that its stockholders have adopted the previously announced merger agreement providing for the stock and cash acquisition of the Company by Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") at the Special Meeting of IAA Stockholders held earlier today. In a separate special meeting of shareholders held earlier today, based on a preliminary vote count, Ritchie Bros. shareholders also voted to approve all proposals necessary to consummate the transaction. Accordingly, all stockholder and regulatory approvals required to consummate the tra
Shareholder Approval Marks Important Milestone Toward Completing IAA Transaction and Accelerating Ritchie Bros.' Strategy to Create Premier Global Marketplace with Long Runway for Outstanding Growth and Value Creation VANCOUVER, BC, March 14, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") announced that, based on the preliminary vote count provided by its proxy solicitors following the Company's Special Meeting of Shareholders (the "Special Meeting") held earlier today, Ritchie Bros. shareholders voted to approve the proposed acquisition of IAA, Inc. (NYSE:IAA) ("IAA"). Ritchie Bros. will file final, certified voting results on a Form 8-K w
Significant Growth and Premier Returns Under Current Board and Management Show that Shareholders Should Look to the Future, Not the Past IAA is Right Next Step in Ritchie Bros.' Value Creating Transformation Strategy VANCOUVER, BC, March 13, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today issued the following statement related to the acquisition of IAA, Inc. (NYSE:IAA) ("IAA"): The substantial value created under Ritchie Bros.' current Board of Directors and management team shows that shareholders should look to the future, not the past. We have great respect for Mr. Ritchie as a co-founder of the Company. However, he retired from the C
Shareholders should heed call from David E Ritchie and C Russell Cmolik and revoke proxies cast in favor of IAA Merger Not too late to stop value destructive IAA Merger Contact Okapi Partners 1-877-629-6356 or Shorecrest Group at 1-888-637-5789 for assistance in revoking your proxy if you voted For the Merger Luxor Capital Group, LP ("Luxor"), as the manager of funds owning 4.7 million shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("RBA" or the "Company"), representing approximately 4.2% of the Company's outstanding shares, today responded to a letter released by David E Ritchie, RBA Co-Founder, Former Chairman and Director, and C Russell Cmolik, Former President,
Express strong belief that Merger with IAA threatens customer focus and corporate cultureShareholders should call brokers to revoke votes cast in favour of the dealVANCOUVER, BC, March 13, 2023 /PRNewswire/ - David E Ritchie, Co-Founder, Former Chairman and Director; and C Russell Cmolik, Former President and Director of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros." or the "Company"), released a letter to shareholders of Ritchie Bros., in connection with the proposed merger with IAA, Inc. (NYSE:IAA): Dear Ritchie Bros. Shareholders, As fellow shareholders of Ritchie Bros. we write to you with deep concern for the great Company we began building over 60 years ag
Preliminary results show that ~46% of RBA votes cast AGAINST merger with IAA Luxor thanks Ritchie Bros. shareholders for acting as engaged fellow owners Luxor Capital Group, LP ("Luxor"), as the manager of funds owning 4.7 million shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("RBA" or the "Company"), representing approximately 4.2% of the Company's outstanding shares, today announced that preliminary results, as of the proxy deadline and tabulated by Luxor's proxy solicitor, show that approximately 43 million shares or 46% of votes cast, voted to defeat the proposed merger with IAA, Inc. (NYSE:IAA) (the "IAA Merger"), in connection with the March 14, 2023 special
Shareholders Can Vote Against the IAA Merger But Must Act by March 9, 2023 Standalone RBA is the Best Path for Shareholder Value Creation RBA Shareholders and both ISS and Glass Lewis Oppose the IAA Merger Luxor Capital Group, LP ("Luxor"), as the manager of funds owning 4.7 million shares of Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("RBA" or the "Company"), representing approximately 4.2% of the Company's outstanding shares, today released a letter to its fellow RBA shareholders highlighting key reasons to vote AGAINST the proposed merger with IAA, Inc. (NYSE:IAA) (the "IAA Merger"). The Full Text of the Letter Follows: Dear Fellow Shareholders: Your vote is needed
IAA Acquisition Accelerates Ritchie Bros.' Growth Strategy and Is a Unique Opportunity to Deliver Returns Significantly in Excess of Standalone Value Independent Proxy Advisory Firm Egan-Jones Recommends Ritchie Bros. Shareholders Vote "FOR" All Proposals to Approve Acquisition of IAA Special Meeting of Shareholders is Fast Approaching – Vote Promptly by Internet, Telephone or ProxyEdge Board Continues to Unanimously Recommend that Ritchie Bros. Shareholders Vote "FOR" All Proposals on the WHITE Proxy Card VANCOUVER, BC, March 7, 2023 /PRNewswire/ - Ritchie Bros. Auctioneers Incorporated (NYSE:RBA) (TSX:RBA) ("Ritchie Bros.") today reiterated the Board of Directors' unanimous recommendation