ACV Auctions Inc. (NYSE:ACVA) Receives $9.50 Consensus Target Price from Brokerages

ACV Auctions Inc. (NYSE:ACVA) has received a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.50.

A number of research analysts have weighed in on ACVA shares. Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. Citigroup upped their price target on shares of ACV Auctions from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Monday, August 17th. Stephens raised shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective on the stock in a report on Tuesday, August 11th. Barclays lowered shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a research report on Tuesday, August 11th. Finally, Bank of America reiterated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently bought and sold shares of ACVA. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of ACV Auctions in the second quarter worth about $80,000. California State Teachers Retirement System grew its stake in shares of ACV Auctions by 602.9% during the 2nd quarter. California State Teachers Retirement System now owns 1,646,136 shares of the company’s stock valued at $11,836,000 after acquiring an additional 1,411,929 shares during the period. Bank of New York Mellon Corp purchased a new stake in ACV Auctions in the 2nd quarter worth approximately $3,996,000. Versant Capital Management Inc increased its holdings in ACV Auctions by 28.8% in the 2nd 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 in the last quarter. Finally, Amundi purchased a new stake in ACV Auctions in the 1st quarter worth approximately $63,000. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Stock Performance

Shares of ACVA opened at $7.21 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52. ACV Auctions has a one year low of $4.07 and a one year high of $11.91. The firm has a market capitalization of $1.22 billion, a P/E ratio of -20.02 and a beta of 1.82. The business has a fifty day moving average of $7.40 and a 200 day moving average of $6.14.

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.