ACV Auctions (NYSE:ACVA) Lowered to “Hold” Rating by Northcoast Research

ACV Auctions (NYSE:ACVA) was downgraded by investment analysts at Northcoast Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Other research analysts also recently issued reports about the company. Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. CJS Securities cut shares of ACV Auctions from a “market outperform” rating to a “market perform” rating in a research note on Tuesday, September 15th. Citigroup lifted their target price on shares of ACV Auctions from $8.50 to $10.50 and gave the company a “neutral” rating in a report on Monday, September 14th. Bank of America reiterated an “underperform” rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Finally, Stephens upgraded shares of 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. Five analysts have rated the stock with a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.70.

ACV Auctions Stock Performance

ACVA opened at $10.46 on Tuesday. ACV Auctions has a 12-month low of $4.07 and a 12-month high of $10.53. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $1.78 billion, a PE ratio of -29.04 and a beta of 1.84. The firm has a 50 day moving average of $7.97 and a two-hundred day moving average of $6.46.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ACVA. Larson Financial Group LLC increased its stake in shares of ACV Auctions by 38,076.9% in the 4th quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after acquiring an additional 4,950 shares during the last quarter. Versant Capital Management Inc increased its position in shares of ACV Auctions by 28.8% during 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. Chicago Partners Investment Group LLC purchased a new stake in shares of ACV Auctions during the first quarter worth approximately $52,000. Principal Financial Group Inc. acquired a new stake in ACV Auctions in the first quarter valued at $52,000. Finally, American Trust acquired a new stake in ACV Auctions during the first quarter worth approximately $53,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Company Profile

ACV Auctions Inc (NYSE: ACVA) operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with sellers, including franchised and independent dealerships, commercial partners and other participants in the wholesale vehicle market, enabling vehicles to be bought and sold through online auctions.

The company provides services designed to support the wholesale transaction process, including vehicle inspections and condition reports, digital auction tools, transportation and logistics coordination, and post-sale protection and arbitration services.