ACV Auctions Inc. (NYSE:ACVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of ACV Auctions Inc. (NYSE:ACVA) have earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, six have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.45.

ACVA has been the subject of a number of recent research reports. Barrington Research upgraded ACV Auctions from a “market perform” rating to an “outperform” rating in a research report on Tuesday, February 24th. Citigroup downgraded ACV Auctions from a “buy” rating to a “neutral” rating and cut their price objective for the company from $13.00 to $7.00 in a research report on Tuesday, February 24th. Royal Bank Of Canada upgraded ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th. B. Riley Financial cut their price objective on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Finally, Barclays cut their price objective on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd.

ACV Auctions Price Performance

Shares of NYSE:ACVA opened at $5.90 on Wednesday. ACV Auctions has a one year low of $4.07 and a one year high of $17.16. The stock has a fifty day moving average of $4.96 and a 200-day moving average of $6.61. The company has a market capitalization of $1.03 billion, a PE ratio of -16.84 and a beta of 1.78. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The company had revenue of $183.65 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter last year, the company posted ($0.16) EPS. ACV Auctions’s revenue was up 15.2% on a year-over-year basis. As a group, equities analysts anticipate that ACV Auctions will post -0.19 EPS for the current fiscal year.

Insider Activity

In other ACV Auctions news, CEO George Chamoun bought 24,272 shares of ACV Auctions stock in a transaction dated Monday, March 9th. The stock was bought at an average price of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the acquisition, the chief executive officer directly owned 2,952,977 shares of the company’s stock, valued at approximately $14,912,533.85. This trade represents a 0.83% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.

Institutional Trading of ACV Auctions

A number of hedge funds have recently modified their holdings of ACVA. Atreides Management LP lifted its holdings in shares of ACV Auctions by 125.2% in the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock valued at $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. Sunriver Management LLC purchased a new stake in shares of ACV Auctions in the fourth quarter valued at $23,768,000. SG Capital Management LLC purchased a new stake in shares of ACV Auctions in the third quarter valued at $17,103,000. Finally, Arvin Capital Management LP lifted its holdings in shares of ACV Auctions by 272.8% in the fourth quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after purchasing an additional 1,680,723 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Company Profile

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.