ACV Auctions Inc. (NYSE:ACVA) Stock Rated “Hold” by Wall Street Analysts

ACV Auctions Inc. (NYSE:ACVA) has been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $9.70.

Several research analysts have recently issued reports on the stock. Needham & Company LLC cut shares of ACV Auctions from a “buy” rating to a “hold” rating in a report on Friday, September 11th. CJS Securities downgraded shares of ACV Auctions from a “market outperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Barclays cut shares of ACV Auctions from an “equal weight” rating to an “underweight” rating and set a $8.00 target price for the company. in a report on Tuesday, August 11th. Citizens Jmp cut ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Finally, Northcoast Research downgraded ACV Auctions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 22nd.

ACV Auctions Stock Up 0.2%

ACV Auctions stock opened at $10.49 on Friday. The firm has a 50-day moving average price of $8.83 and a two-hundred day moving average price of $7.09. ACV Auctions has a 52-week low of $4.07 and a 52-week high of $10.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.52 and a quick ratio of 1.52.

Hedge Funds Weigh In On ACV Auctions

Several institutional investors have recently bought and sold shares of ACVA. Renaissance Technologies LLC bought a new position in ACV Auctions during the 1st quarter valued at about $815,000. Quantinno Capital Management LP grew its holdings in shares of ACV Auctions by 215.8% during the first quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock worth $1,804,000 after purchasing an additional 290,739 shares during the last quarter. True North Advisors LLC bought a new position in shares of ACV Auctions in the first quarter valued at about $743,000. Bank of New York Mellon Corp acquired a new position in ACV Auctions during the 2nd quarter worth about $3,996,000. Finally, Fifth Third Bancorp grew its holdings in ACV Auctions by 3,753.7% during the 1st quarter. Fifth Third Bancorp now owns 130,370 shares of the company’s stock worth $553,000 after acquiring an additional 126,987 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors.

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.