ACV Auctions Inc. (NYSE:ACVA) Receives $10.14 Average Target Price from Brokerages

ACV Auctions Inc. (NYSE:ACVA) has earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.1364.

A number of brokerages have recently commented on ACVA. Barrington Research lowered shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target on the stock. in a report on Monday, June 1st. Stephens upgraded ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research note on Wednesday, June 24th.

Institutional Trading of ACV Auctions

A number of institutional investors have recently modified their holdings of the business. Versant Capital Management Inc boosted its holdings in shares of ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after acquiring an additional 1,382 shares during the period. Amundi bought a new position in shares of ACV Auctions in the first quarter valued at approximately $63,000. California State Teachers Retirement System boosted its position in shares of ACV Auctions by 46.0% in the first quarter. California State Teachers Retirement System now owns 234,207 shares of the company’s stock valued at $993,000 after acquiring an additional 73,823 shares during the period. Quantinno Capital Management LP grew its stake in ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock valued at $1,804,000 after acquiring an additional 290,739 shares in the last quarter. Finally, Wealth Alliance LLC purchased a new position in ACV Auctions during the first quarter valued at approximately $60,000. 88.55% of the stock is currently owned by hedge funds and other institutional investors.

ACV Auctions Trading Up 0.9%

NYSE:ACVA traded up $0.07 during mid-day trading on Thursday, hitting $7.50. 296,670 shares of the company’s stock were exchanged, compared to its average volume of 3,236,707. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $16.75. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $1.31 billion, a P/E ratio of -21.24 and a beta of 1.82. The company has a 50 day simple moving average of $6.15 and a 200-day simple moving average of $6.33.

About ACV Auctions

ACV Auctions operates a digital marketplace designed to streamline the wholesale used-vehicle auction process for independent dealerships and larger automotive groups. The platform enables dealers to participate in live, online auctions, submit real-time bids, and access guaranteed-sale programs that reduce the risk of inventory moving. By replicating the dynamics of in-lane bidding in a virtual environment, ACV Auctions connects sellers and buyers across a broad geographic footprint without the need for physical auction attendance.

In addition to its core marketplace, ACV Auctions offers a suite of software tools and data-driven services aimed at improving transparency and decision-making in the remarketing process.