ACV Auctions Inc. (NYSE:ACVA) Given Consensus Recommendation of “Hold” by Brokerages

Shares of ACV Auctions Inc. (NYSE:ACVA) have been given an average rating of “Hold” by the fifteen analysts that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $9.70.

Several research firms have recently commented on ACVA. Stephens upgraded shares of ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price for the company in a research note on Tuesday, August 11th. Citigroup raised their price target on ACV Auctions from $8.50 to $10.50 and gave the stock a “neutral” rating in a research report on Monday, September 14th. Bank of America reissued an “underperform” rating on shares of ACV Auctions in a report on Tuesday, August 11th. Weiss Ratings raised ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. Finally, CJS Securities cut ACV Auctions from a “market outperform” rating to a “market perform” rating in a report on Tuesday.

Institutional Trading of ACV Auctions

A number of institutional investors have recently added to or reduced their stakes in the business. Atreides Management LP increased its stake in ACV Auctions by 125.2% during the 4th quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after buying an additional 6,901,010 shares during the period. Arvin Capital Management LP increased its holdings in shares of ACV Auctions by 272.8% in the 4th quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock worth $18,421,000 after acquiring an additional 1,680,723 shares during the period. Senvest Management LLC raised its stake in shares of ACV Auctions by 9.0% during the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock valued at $14,971,000 after purchasing an additional 291,729 shares in the last quarter. Royce & Associates LP grew its holdings in ACV Auctions by 141.7% during the fourth quarter. Royce & Associates LP now owns 1,736,476 shares of the company’s stock worth $13,927,000 after acquiring an additional 1,018,084 shares during the period. Finally, CenterBook Partners LP raised its position in ACV Auctions by 61.6% in the fourth quarter. CenterBook Partners LP now owns 917,549 shares of the company’s stock worth $7,359,000 after acquiring an additional 349,750 shares in the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Price Performance

Shares of NYSE ACVA opened at $10.46 on Tuesday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53. The stock has a market cap of $1.78 billion, a P/E ratio of -29.05 and a beta of 1.84. The stock has a 50 day moving average of $7.83 and a two-hundred day moving average of $6.38. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $10.55.

ACV Auctions Company Profile

ACV Auctions Inc (NYSE: ACVA) operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with sellers, including franchised and independent dealerships, commercial partners and other participants in the wholesale vehicle market, enabling vehicles to be bought and sold through online auctions.

The company provides services designed to support the wholesale transaction process, including vehicle inspections and condition reports, digital auction tools, transportation and logistics coordination, and post-sale protection and arbitration services.