ACV Auctions Inc. (NYSE:ACVA) Stock Has Consensus Price Target of $9.70 According to Analysts

Key Points

• ACV Auctions has a consensus “Hold” rating from 16 analysts: seven holds, five buys and four sells. The average 12-month price target is $9.70, below the stock’s reported $10.46 opening price.
• Recent analyst sentiment has weakened, with Barclays downgrading the stock to “underweight” and Citizens JMP and Needham lowering their ratings to “market perform” and “hold,” respectively.
• Institutional investors own 88.55% of ACV Auctions, while several firms recently increased their positions. The stock has traded between $4.07 and $10.50 over the past year and has risen above its 50-day and 200-day moving averages.

ACV Auctions Inc. (NYSE:ACVA - Get Free Report) has been given a consensus rating of "Hold" by the sixteen analysts that are presently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $9.70.

A number of analysts have recently commented on the company. Weiss Ratings raised ACV Auctions from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, August 5th. Citizens Jmp downgraded ACV Auctions from an "outperform" rating to a "market perform" rating in a research note on Tuesday, August 11th. Barclays lowered shares of ACV Auctions from an "equal weight" rating to an "underweight" rating and set a $8.00 price objective for the company. in a report on Tuesday, August 11th. Bank of America reiterated an "underperform" rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Finally, Needham & Company LLC lowered shares of ACV Auctions from a "buy" rating to a "hold" rating in a report on Friday, September 11th.

Institutional Trading of ACV Auctions

Several institutional investors have recently modified their holdings of ACVA. Versant Capital Management Inc lifted its holdings in ACV Auctions by 28.8% during the 2nd quarter. Versant Capital Management Inc now owns 6,187 shares of the company's stock worth $44,000 after buying an additional 1,382 shares during the period. IFP Advisors Inc increased its stake in shares of ACV Auctions by 6.7% in the second quarter. IFP Advisors Inc now owns 45,834 shares of the company's stock valued at $330,000 after buying an additional 2,866 shares during the period. Diversified Trust Co raised its position in shares of ACV Auctions by 13.7% during the first quarter. Diversified Trust Co now owns 45,520 shares of the company's stock worth $193,000 after acquiring an additional 5,471 shares during the last quarter. Allworth Financial LP raised its position in shares of ACV Auctions by 316.8% during the second quarter. Allworth Financial LP now owns 11,004 shares of the company's stock worth $79,000 after acquiring an additional 8,364 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its stake in shares of ACV Auctions by 15.6% in the second quarter. Baird Financial Group Inc. now owns 62,557 shares of the company's stock worth $450,000 after acquiring an additional 8,426 shares during the period. Institutional investors own 88.55% of the company's stock.

ACV Auctions Trading Up 0.1%

Shares of ACVA stock opened at $10.46 on Friday. The firm has a market capitalization of $1.78 billion, a P/E ratio of -29.04 and a beta of 1.76. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $10.50. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. The stock's fifty day simple moving average is $8.67 and its 200 day simple moving average is $6.95.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers, enabling vehicles to be auctioned online rather than through traditional physical wholesale auctions.

The company provides services intended to support the wholesale vehicle lifecycle, including vehicle listings, digital auctions, condition reports and inspection tools. Its platform also offers related solutions such as transportation coordination, title processing and financing options for eligible dealers.

Founded in 2014 and headquartered in Buffalo, New York, ACV Auctions primarily serves automotive dealers and other participants in the United States wholesale vehicle market.

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.