ACV Auctions Inc. (NYSE:ACVA – Get Free Report) gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $8.15, but opened at $5.88. ACV Auctions shares last traded at $5.40, with a volume of 8,401,534 shares.
The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.10). ACV Auctions had a negative net margin of 9.89% and a negative return on equity of 7.95%. The company had revenue of $199.56 million during the quarter.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on ACVA shares. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a report on Tuesday, October 14th. Wall Street Zen cut ACV Auctions from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Zacks Research upgraded ACV Auctions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Barrington Research downgraded ACV Auctions from an “outperform” rating to a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, ACV Auctions presently has a consensus rating of “Hold”.
ACV Auctions Stock Up 5.9%
The business’s fifty day moving average is $9.62. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.59 and a current ratio of 1.62. The stock has a market capitalization of $927.67 million, a PE ratio of -12.53 and a beta of 1.63.
About ACV Auctions
ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.
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