ACV Auctions (NASDAQ:ACVA) Given Outperform Rating at Barrington Research

Barrington Research restated their outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research note published on Monday morning, Benzinga reports. The firm currently has a $23.00 target price on the stock.

Several other research firms also recently commented on ACVA. Northcoast Research raised ACV Auctions from a neutral rating to a buy rating and set a $22.00 price objective on the stock in a research note on Wednesday, January 10th. Needham & Company LLC restated a buy rating and set a $23.00 target price on shares of ACV Auctions in a research note on Thursday, February 22nd. Finally, JMP Securities reiterated a market outperform rating and issued a $19.00 price target on shares of ACV Auctions in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $20.36.

ACV Auctions Stock Up 0.9 %

Shares of ACVA stock opened at $17.47 on Monday. The company has a current ratio of 2.12, a quick ratio of 2.12 and a debt-to-equity ratio of 0.25. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $19.54. The stock has a market cap of $2.86 billion, a P/E ratio of -37.98 and a beta of 1.56. The company has a 50 day simple moving average of $18.03 and a two-hundred day simple moving average of $15.75.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. The firm had revenue of $118.38 million during the quarter, compared to the consensus estimate of $117.62 million. On average, research analysts expect that ACV Auctions will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other ACV Auctions news, COO Vikas Mehta sold 200,000 shares of ACV Auctions stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total value of $3,296,000.00. Following the sale, the chief operating officer now directly owns 319,036 shares in the company, valued at approximately $5,257,713.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Brian Hirsch sold 241,455 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $18.31, for a total transaction of $4,421,041.05. Following the completion of the transaction, the director now directly owns 301,258 shares in the company, valued at approximately $5,516,033.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Vikas Mehta sold 200,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $16.48, for a total transaction of $3,296,000.00. Following the completion of the transaction, the chief operating officer now directly owns 319,036 shares of the company’s stock, valued at $5,257,713.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,475,208 shares of company stock worth $26,669,099. 8.50% of the stock is owned by insiders.

Institutional Investors Weigh In On ACV Auctions

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust purchased a new stake in shares of ACV Auctions during the 3rd quarter valued at about $66,000. Allspring Global Investments Holdings LLC bought a new stake in ACV Auctions during the third quarter worth approximately $72,000. UMB Bank n.a. purchased a new stake in ACV Auctions during the first quarter valued at approximately $114,000. Penn Mutual Asset Management LLC purchased a new stake in ACV Auctions during the fourth quarter valued at approximately $153,000. Finally, Versor Investments LP lifted its stake in shares of ACV Auctions by 19.5% in the 3rd quarter. Versor Investments LP now owns 11,974 shares of the company’s stock valued at $182,000 after purchasing an additional 1,950 shares during the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company's marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green's seller assurance service for against claims related to defects in the vehicle.