ACV Auctions Inc. (NYSE:ACVA) Given Average Recommendation of "Hold" by Brokerages

Key Points

• ACV Auctions has a consensus “Hold” rating among 15 brokerages, with three sells, four holds, six buys and two strong buys. Analysts’ average 12-month price target is $9.50.
• Recent research opinions were mixed: Barclays downgraded the stock to “underweight” with an $8 target, while Barrington Research upgraded it to “strong buy” and Citigroup raised its target to $8.50 while maintaining a “neutral” rating.
• ACVA opened at $7.64 and has risen 2.3%, with a $1.30 billion market capitalization; institutional investors own approximately 88.55% of the company’s shares.

ACV Auctions Inc. (NYSE:ACVA - Get Free Report) has been given a consensus recommendation of "Hold" by the fifteen brokerages that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, six have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.50.

Several research firms have recently issued reports on ACVA. Barclays lowered ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 target price for the company. 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 report on Wednesday, August 5th. Citigroup upped their price objective on ACV Auctions from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Monday. Barrington Research raised ACV Auctions from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Finally, Bank of America reiterated an "underperform" rating on shares of ACV Auctions in a research note on Tuesday, August 11th.

ACV Auctions Trading Up 2.3%

NYSE:ACVA opened at $7.64 on Friday. ACV Auctions has a 52 week low of $4.07 and a 52 week high of $12.21. The firm has a 50-day moving average price of $7.29 and a two-hundred day moving average price of $6.14. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -21.22 and a beta of 1.82.

Institutional Trading of ACV Auctions

Several hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of ACV Auctions by 72.4% during the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock valued at $27,000 after acquiring an additional 1,421 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in ACV Auctions by 2,573.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock valued at $30,000 after purchasing an additional 3,629 shares during the last quarter. Larson Financial Group LLC lifted its stake in ACV Auctions by 38,076.9% in the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company's stock valued at $40,000 after purchasing an additional 4,950 shares during the last quarter. Versant Capital Management Inc grew its holdings in ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock valued at $44,000 after purchasing an additional 1,382 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in ACV Auctions by 12,979.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company's stock valued at $46,000 after purchasing an additional 5,711 shares during the period. 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.

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