ACV Auctions (NYSE:ACVA) Lowered to “Market Perform” Rating by Barrington Research

ACV Auctions (NYSE:ACVA) was downgraded by investment analysts at Barrington Research from an “outperform” rating to a “market perform” rating in a research note issued on Monday. They currently have a $7.00 price target on the stock. Barrington Research’s target price suggests a potential upside of 12.59% from the company’s current price.

A number of other analysts also recently weighed in on the company. Barclays cut their target price on ACV Auctions from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. B. Riley Financial reduced their price target on shares of ACV Auctions from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Citigroup lowered shares of ACV Auctions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $13.00 to $7.00 in a report on Tuesday, February 24th. Wall Street Zen raised shares of ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $9.00 target price on shares of ACV Auctions in a report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.14.

ACV Auctions Stock Performance

Shares of NYSE:ACVA traded down $0.35 on Monday, reaching $6.22. 856,459 shares of the company’s stock were exchanged, compared to its average volume of 3,280,006. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $17.16. The company has a fifty day moving average of $5.18 and a 200-day moving average of $6.48. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -17.96 and a beta of 1.84. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.46.

Insider Transactions at ACV Auctions

In other ACV Auctions news, CEO George Chamoun purchased 24,272 shares of the business’s stock in a transaction on Monday, March 9th. The stock was acquired 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 directly owned 2,952,977 shares in the company, valued at approximately $14,912,533.85. This represents a 0.83% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.40% of the company’s stock.

Institutional Investors Weigh In On ACV Auctions

A number of hedge funds have recently modified their holdings of the business. Amundi bought a new position in shares of ACV Auctions during the first quarter worth $63,000. California State Teachers Retirement System lifted its stake in shares of ACV Auctions by 46.0% in the 1st quarter. California State Teachers Retirement System now owns 234,207 shares of the company’s stock valued at $993,000 after purchasing an additional 73,823 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in shares of ACV Auctions by 215.8% in the 1st 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 period. Wealth Alliance LLC purchased a new position in ACV Auctions during the first quarter worth $60,000. Finally, Senvest Management LLC raised its stake in shares of ACV Auctions by 9.0% during the first quarter. Senvest Management LLC now owns 3,530,785 shares of the company’s stock valued at $14,971,000 after acquiring an additional 291,729 shares in the last quarter. Institutional investors own 88.55% of the company’s stock.

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.