Analysts Set ACV Auctions Inc. (NYSE:ACVA) Price Target at $9.70

Shares of ACV Auctions Inc. (NYSE:ACVA – Get Free Report) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $9.70.

Several research firms have recently weighed in on ACVA. Barclays downgraded 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. Barrington Research downgraded shares of ACV Auctions from an “outperform” rating to a “strong sell” rating in a research report on Friday, September 11th. Citigroup lifted their price objective on shares of ACV Auctions from $8.50 to $10.50 and gave the company a “neutral” rating in a research note on Monday. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Finally, Stephens raised ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price objective for the company in a research note on Tuesday, August 11th.

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Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Atreides Management LP grew its position in ACV Auctions by 125.2% during the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock worth $99,543,000 after buying an additional 6,901,010 shares during the period. Arvin Capital Management LP lifted its position in shares of ACV Auctions by 272.8% during the 4th quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock valued at $18,421,000 after acquiring an additional 1,680,723 shares during the period. Senvest Management LLC boosted its stake in shares of ACV Auctions by 9.0% during the 1st quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after acquiring an additional 291,729 shares in the last quarter. Royce & Associates LP increased its position in shares of ACV Auctions by 141.7% in the fourth quarter. Royce & Associates LP now owns 1,736,476 shares of the company’s stock valued at $13,927,000 after buying an additional 1,018,084 shares in the last quarter. Finally, CenterBook Partners LP grew its stake in ACV Auctions by 61.6% in the 4th quarter. CenterBook Partners LP now owns 917,549 shares of the company’s stock valued at $7,359,000 after acquiring an additional 349,750 shares during the last quarter. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Price Performance

Shares of NYSE:ACVA opened at $10.46 on Tuesday. The company’s fifty day moving average price is $7.76 and its 200 day moving average price is $6.35. ACV Auctions has a 12 month low of $4.07 and a 12 month high of $10.55. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $1.78 billion, a P/E ratio of -29.07 and a beta of 1.84.

ACV Auctions Company Profile

(Get Free Report)

ACV Auctions Inc (NYSE: ACVA) operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with sellers, including franchised and independent dealerships, commercial partners and other participants in the wholesale vehicle market, enabling vehicles to be bought and sold through online auctions.

The company provides services designed to support the wholesale transaction process, including vehicle inspections and condition reports, digital auction tools, transportation and logistics coordination, and post-sale protection and arbitration services.

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