ACV Auctions (NYSE:ACVA) Raised to "Strong-Buy" at Barrington Research

Key Points

• Barrington Research upgraded ACV Auctions from “hold” to “strong-buy,” while analysts overall maintain a “Moderate Buy” consensus with an average price target of $10.23.
• ACVA shares opened at $7.80, above their 50-day and 200-day moving averages, but remain well below the 52-week high of $14.75.
• Institutional investors own 88.55% of the company, with several large funds recently increasing their positions in ACV Auctions.

ACV Auctions (NYSE:ACVA - Get Free Report) was upgraded by equities research analysts at Barrington Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other brokerages have also commented on ACVA. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ACV Auctions in a research report on Wednesday, June 24th. Barclays lifted their target price on shares of ACV Auctions from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 22nd. Finally, Stephens raised shares of ACV Auctions to a "hold" rating in a research report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ACV Auctions has a consensus rating of "Moderate Buy" and an average price target of $10.23.

ACV Auctions Price Performance

Shares of NYSE ACVA opened at $7.80 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market cap of $1.36 billion, a PE ratio of -22.27 and a beta of 1.82. The business has a 50-day simple moving average of $6.87 and a two-hundred day simple moving average of $6.22. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $14.75.

Institutional Trading of ACV Auctions

Several large investors have recently added to or reduced their stakes in ACVA. Versant Capital Management Inc boosted its position in ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock worth $44,000 after purchasing an additional 1,382 shares in the last quarter. Fifth Third Bancorp increased its position in shares of ACV Auctions by 72.4% in the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company's stock valued at $27,000 after buying an additional 1,421 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of ACV Auctions by 3.1% during the 4th quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company's stock worth $448,000 after buying an additional 1,692 shares during the period. ProShare Advisors LLC raised its stake in shares of ACV Auctions by 6.9% during the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company's stock worth $246,000 after buying an additional 1,982 shares during the period. Finally, Hsbc Holdings PLC lifted its position in shares of ACV Auctions by 13.6% during the 2nd quarter. Hsbc Holdings PLC now owns 19,508 shares of the company's stock valued at $318,000 after buying an additional 2,342 shares in the last quarter. Hedge funds and other 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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