ACV Auctions (NYSE:ACVA) Given Underperform Rating at Barrington Research

Key Points

• Barrington Research reaffirmed an “underperform” rating on ACV Auctions, while the broader analyst consensus remains “Hold” with an average price target of $9.50.
• ACVA shares surged $3.21 to $10.43 in Friday trading, nearing their 52-week high of $10.60, on volume far above the stock’s average.
• Institutional investors own 88.55% of ACV Auctions, with several funds recently increasing or initiating positions.

ACV Auctions (NYSE:ACVA - Get Free Report)'s stock had its "underperform" rating reaffirmed by stock analysts at Barrington Research in a report issued on Friday, Benzinga reports.

A number of other research firms have also recently commented on ACVA. Bank of America reissued an "underperform" rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Weiss Ratings upgraded ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 5th. Citizens Jmp lowered ACV Auctions from an "outperform" rating to a "market perform" rating in a research report on Tuesday, August 11th. Barclays cut ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 price objective on the stock. in a report on Tuesday, August 11th. Finally, Citigroup boosted their target price on ACV Auctions from $7.00 to $8.50 and gave the stock a "neutral" rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $9.50.

ACV Auctions Price Performance

ACVA stock traded up $3.21 during midday trading on Friday, reaching $10.43. The company had a trading volume of 94,502,816 shares, compared to its average volume of 4,031,416. The firm has a 50-day moving average price of $7.43 and a 200-day moving average price of $6.16. The company has a market capitalization of $1.77 billion, a P/E ratio of -28.96 and a beta of 1.84. ACV Auctions has a 1 year low of $4.07 and a 1 year high of $10.60. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52.

Institutional Trading of ACV Auctions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its holdings in ACV Auctions by 2,573.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company's stock worth $30,000 after acquiring an additional 3,629 shares during the last quarter. Larson Financial Group LLC increased its holdings in ACV Auctions by 38,076.9% during the 4th 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 period. Versant Capital Management Inc raised its position in ACV Auctions by 28.8% during the 2nd 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 last quarter. Chicago Partners Investment Group LLC purchased a new stake in ACV Auctions in the 1st quarter worth approximately $52,000. Finally, Principal Financial Group Inc. bought a new stake in shares of ACV Auctions in the 1st quarter worth approximately $52,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.