ACV Auctions Inc. (NYSE:ACVA) Receives $10.45 Consensus PT from Analysts

Shares of ACV Auctions Inc. (NYSE:ACVA) have earned a consensus rating of “Moderate Buy” from the fifteen research firms that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, five have given a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $10.45.

ACVA has been the subject of several analyst reports. Barclays decreased their target price on shares of ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Weiss Ratings restated a “sell (e+)” rating on shares of ACV Auctions in a research report on Friday, March 27th. The Goldman Sachs Group reduced their price objective on shares of ACV Auctions from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Citigroup cut shares of ACV Auctions from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $13.00 to $7.00 in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada upgraded shares of ACV Auctions to an “outperform” rating in a research report on Tuesday, February 24th.

ACV Auctions Stock Performance

ACVA opened at $5.93 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a fifty day moving average price of $4.99 and a 200 day moving average price of $6.57. ACV Auctions has a 1 year low of $4.07 and a 1 year high of $17.16. The stock has a market cap of $1.03 billion, a P/E ratio of -16.94 and a beta of 1.78.

ACV Auctions (NYSE:ACVA) last posted its earnings results on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.10). ACV Auctions had a negative net margin of 7.97% and a negative return on equity of 5.52%. The firm had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the prior year, the firm earned ($0.16) earnings per share. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. Equities research analysts anticipate that ACV Auctions will post -0.19 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO George Chamoun acquired 24,272 shares of ACV Auctions stock in a transaction on Monday, March 9th. The stock was bought at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the transaction, the chief executive officer owned 2,952,977 shares of the company’s stock, valued at approximately $14,912,533.85. The trade was a 0.83% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 4.40% of the company’s stock.

Hedge Funds Weigh In On ACV Auctions

A number of large investors have recently added to or reduced their stakes in ACVA. Brighton Jones LLC acquired a new position in ACV Auctions during the fourth quarter worth $392,000. Royal Bank of Canada raised its position in shares of ACV Auctions by 14.3% in the first quarter. Royal Bank of Canada now owns 83,187 shares of the company’s stock valued at $1,173,000 after buying an additional 10,382 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of ACV Auctions in the first quarter valued at about $197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of ACV Auctions by 19.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 188,904 shares of the company’s stock valued at $2,662,000 after buying an additional 30,299 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of ACV Auctions by 35.7% in the first quarter. Millennium Management LLC now owns 728,697 shares of the company’s stock valued at $10,267,000 after buying an additional 191,883 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.