ACV Auctions Inc. (NYSE:ACVA) Stock Has Consensus Price Target of $9.70

by · The Markets Daily

ACV Auctions Inc. (NYSE:ACVA – Get Free Report) has received a consensus rating of “Hold” from the fifteen ratings firms that are covering the stock, Marketbeat Ratings reports. Four 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 12-month price objective among brokers that have covered the stock in the last year is $10.00.

Several research firms have recently issued reports on ACVA. Bank of America reaffirmed an “underperform” rating on shares of ACV Auctions in a research note on Tuesday, August 11th. CJS Securities downgraded ACV Auctions from a “market outperform” rating to a “market perform” rating in a report on Tuesday, September 15th. Wall Street Zen upgraded ACV Auctions to a “hold” rating in a research report on Saturday, October 17th. Stephens upgraded ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price target on the stock in a research report on Tuesday, August 11th. Finally, Citizens Jmp cut ACV Auctions from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 11th.

Check Out Our Latest Stock Analysis on ACVA

ACV Auctions Price Performance

ACV Auctions stock opened at $10.50 on Wednesday. The stock has a 50-day moving average price of $9.85 and a two-hundred day moving average price of $7.19. ACV Auctions has a 12 month low of $4.07 and a 12 month high of $10.51. The company has a market capitalization of $1.78 billion, a PE ratio of -29.17 and a beta of 1.76. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.53.

Institutional Trading of ACV Auctions

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Capital Management L.P. bought a new stake in shares of ACV Auctions in the 3rd quarter valued at $35,866,000. ProShare Advisors LLC increased its position in shares of ACV Auctions by 154.0% during the third quarter. ProShare Advisors LLC now owns 56,872 shares of the company’s stock worth $593,000 after buying an additional 34,480 shares during the period. Transmarket Holdings LP bought a new position in ACV Auctions during the third quarter worth $2,810,000. Sterling Capital Management LLC raised its stake in ACV Auctions by 200.1% during the third quarter. Sterling Capital Management LLC now owns 4,820 shares of the company’s stock worth $50,000 after buying an additional 3,214 shares during the last quarter. Finally, Sequoia Financial Advisors LLC acquired a new position in ACV Auctions in the second quarter valued at $114,000. 88.55% of the stock is currently owned by institutional investors.

About ACV Auctions

(Get Free Report)

ACV Auctions Inc operates a digital marketplace for wholesale vehicle transactions. Its platform connects automotive dealers with buyers and sellers of used vehicles, enabling auctions to be conducted online rather than through traditional physical auction facilities.

The company provides tools and services intended to support the wholesale vehicle lifecycle, including online auctions, vehicle condition reports, inspections, transportation and logistics coordination, and transaction-related services.

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