ACV Auctions (NYSE:ACVA) Upgraded at Stephens

Stephens upgraded shares of ACV Auctions (NYSE:ACVA) from an equal weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm currently has $10.50 price target on the stock.

Other equities analysts have also recently issued reports about the company. Barclays cut ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 target price on the stock. in a research note on Tuesday. Bank of America reaffirmed an “underperform” rating on shares of ACV Auctions in a research note on Tuesday. Weiss Ratings upgraded shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Citizens Jmp downgraded shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, Barrington Research upgraded shares of ACV Auctions from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.35.

ACV Auctions Trading Up 3.0%

ACVA opened at $7.99 on Tuesday. The business has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $6.16. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -22.19 and a beta of 1.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. ACV Auctions has a one year low of $4.07 and a one year high of $12.21.

Hedge Funds Weigh In On ACV Auctions

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True North Advisors LLC purchased a new stake in ACV Auctions in the first quarter worth about $743,000. Quantinno Capital Management LP increased its stake in shares of 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 purchasing an additional 290,739 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of ACV Auctions by 3,753.7% during the first quarter. Fifth Third Bancorp now owns 130,370 shares of the company’s stock valued at $553,000 after purchasing an additional 126,987 shares during the last quarter. UBS Group AG lifted its holdings in shares of ACV Auctions by 233.8% during the fourth quarter. UBS Group AG now owns 1,527,108 shares of the company’s stock valued at $12,247,000 after purchasing an additional 1,069,644 shares during the last quarter. Finally, Royce & Associates LP boosted its position in shares of ACV Auctions by 141.7% in the 4th quarter. Royce & Associates LP now owns 1,736,476 shares of the company’s stock worth $13,927,000 after purchasing an additional 1,018,084 shares in the last quarter. Hedge funds and other 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.