ACV Auctions Inc. (NYSE:ACVA) Receives $10.14 Consensus Price Target from Brokerages

ACV Auctions Inc. (NYSE:ACVA) has been assigned a consensus rating of “Hold” from the fifteen research firms that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.1364.

A number of research analysts have weighed in on the stock. Barrington Research cut shares of ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 target price on the stock. in a research note on Monday, June 1st. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research note on Friday, March 27th. Royal Bank Of Canada raised shares of ACV Auctions to an “outperform” rating in a report on Tuesday, February 24th. Stephens upgraded ACV Auctions to a “hold” rating in a research note on Monday, June 1st. Finally, B. Riley Financial reduced their price objective on ACV Auctions from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, February 24th.

Institutional Investors Weigh In On ACV Auctions

Several large investors have recently added to or reduced their stakes in the company. Atreides Management LP lifted its holdings in ACV Auctions by 125.2% during the fourth quarter. Atreides Management LP now owns 12,411,800 shares of the company’s stock valued at $99,543,000 after purchasing an additional 6,901,010 shares during the last quarter. Wasatch Advisors LP increased its stake in shares of ACV Auctions by 301.0% in the second quarter. Wasatch Advisors LP now owns 7,295,400 shares of the company’s stock worth $118,331,000 after purchasing an additional 5,475,874 shares in the last quarter. Sunriver Management LLC bought a new stake in shares of ACV Auctions in the fourth quarter valued at approximately $23,768,000. SG Capital Management LLC purchased a new stake in shares of ACV Auctions during the 3rd quarter valued at approximately $17,103,000. Finally, Arvin Capital Management LP boosted its holdings in ACV Auctions by 272.8% in the 4th quarter. Arvin Capital Management LP now owns 2,296,913 shares of the company’s stock worth $18,421,000 after buying an additional 1,680,723 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

ACV Auctions Price Performance

Shares of NYSE:ACVA opened at $6.45 on Friday. The company has a market capitalization of $1.13 billion, a P/E ratio of -18.44 and a beta of 1.84. The company’s 50-day moving average is $5.45 and its 200 day moving average is $6.47. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.47 and a current ratio of 1.47. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $16.83.

ACV Auctions Company Profile

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.