Barclays Increases ACV Auctions (NYSE:ACVA) Price Target to $8.00

ACV Auctions (NYSE:ACVA) had its target price upped by equities researchers at Barclays from $7.00 to $8.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s target price suggests a potential upside of 1.21% from the stock’s previous close.

ACVA has been the topic of a number of other reports. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a report on Wednesday, June 24th. Stephens upgraded shares of ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Finally, Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price objective for the company. in a research report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.23.

ACV Auctions Trading Up 6.7%

Shares of ACV Auctions stock opened at $7.90 on Wednesday. The stock has a market cap of $1.38 billion, a P/E ratio of -22.58 and a beta of 1.82. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46. ACV Auctions has a 12-month low of $4.07 and a 12-month high of $15.31. The business’s 50 day moving average is $6.52 and its 200-day moving average is $6.26.

Institutional Investors Weigh In On ACV Auctions

Large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its holdings in ACV Auctions by 72.4% during the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after purchasing an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of ACV Auctions by 2,573.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $30,000 after purchasing an additional 3,629 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock valued at $40,000 after purchasing an additional 4,950 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of ACV Auctions by 12,979.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock valued at $46,000 after purchasing an additional 5,711 shares during the period. Finally, Versant Capital Management Inc raised its position 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 valued at $44,000 after purchasing an additional 1,382 shares during the period. Institutional investors own 88.55% of the company’s stock.

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.