ACV Auctions Inc. (NYSE:ACVA – Get Free Report) has been assigned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $10.00.
A number of brokerages recently issued reports on ACVA. CJS Securities lowered shares of ACV Auctions from a “market outperform” rating to a “market perform” rating in a research report on Tuesday, September 15th. Bank of America restated an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Barclays downgraded shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 price target on the stock. in a research report on Tuesday, August 11th. Wall Street Zen raised shares of ACV Auctions to a “hold” rating in a research note on Saturday, October 17th. Finally, Barrington Research cut ACV Auctions from an “outperform” rating to a “strong sell” rating in a research report on Friday, September 11th.
View Our Latest Research Report on ACV Auctions
ACV Auctions Price Performance
Shares of NYSE ACVA opened at $10.50 on Wednesday. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $10.51. The firm’s 50-day simple moving average is $9.98 and its 200 day simple moving average is $7.21. 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 has a market cap of $1.78 billion, a P/E ratio of -29.17 and a beta of 1.76.
Institutional Investors Weigh In On ACV Auctions
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Senvest Management LLC grew its position in ACV Auctions by 9.0% in the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock worth $14,971,000 after buying an additional 291,729 shares during the last quarter. First Trust Capital Management L.P. acquired a new stake in shares of ACV Auctions during the 3rd quarter valued at $35,866,000. Alberta Investment Management Corp acquired a new stake in shares of ACV Auctions during the 3rd quarter valued at $7,822,000. Bank of New York Mellon Corp bought a new stake in shares of ACV Auctions during the 2nd quarter worth $3,996,000. Finally, Squarepoint Ops LLC boosted its stake in shares of ACV Auctions by 64.6% during the 2nd quarter. Squarepoint Ops LLC now owns 547,529 shares of the company’s stock worth $3,937,000 after acquiring an additional 214,971 shares in the last quarter. 88.55% of the stock is owned by institutional investors and hedge funds.
ACV Auctions Company Profile
ACV Auctions operates a digital wholesale automotive marketplace that connects vehicle dealers and other commercial sellers with buyers. Its online auction platform enables dealers to purchase and sell used vehicles through live and timed auctions. The company supplements its marketplace with services intended to support wholesale transactions, including vehicle condition reports, transportation, title processing and financing solutions. These offerings help customers evaluate vehicles and manage the steps involved in buying and selling them.
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