ACV Auctions Inc. (NYSE:ACVA) Stock Has Consensus Price Target of $9.70 According to Brokerages

ACV Auctions Inc. (NYSE:ACVA) has been given a consensus recommendation of “Hold” by the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $9.70.

ACVA has been the subject of several analyst reports. Citizens Jmp cut ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th. Stephens raised ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price target on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. Barrington Research cut ACV Auctions from an “outperform” rating to a “strong sell” rating in a research note on Friday, September 11th. Finally, CJS Securities downgraded ACV Auctions from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, September 15th.

ACV Auctions Stock Up 0.0%

Shares of NYSE ACVA opened at $10.45 on Friday. The stock has a market cap of $1.77 billion, a P/E ratio of -29.01 and a beta of 1.76. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. ACV Auctions has a 12-month low of $4.07 and a 12-month high of $10.50. The business’s fifty day simple moving average is $8.73 and its 200-day simple moving average is $7.01.

Institutional Trading of ACV Auctions

Several hedge funds have recently added to or reduced their stakes in ACVA. Atreides Management LP grew its stake in shares of ACV Auctions by 125.2% during the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after purchasing an additional 6,901,010 shares in the last quarter. Senvest Management LLC increased its holdings in ACV Auctions by 9.0% in the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock valued at $14,971,000 after buying an additional 291,729 shares during the last quarter. Arvin Capital Management LP raised its stake in ACV Auctions by 272.8% in the fourth quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after buying an additional 1,680,723 shares in the last quarter. 4D Advisors LLC acquired a new stake in ACV Auctions in the fourth quarter valued at $6,015,000. Finally, Bank of New York Mellon Corp acquired a new stake in ACV Auctions in the second quarter valued at $3,996,000. Institutional investors and hedge funds own 88.55% of the company’s stock.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.