Analysts Set ACV Auctions Inc. (NYSE:ACVA) Price Target at $10.23

Shares of ACV Auctions Inc. (NYSE:ACVA) have earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.2273.

ACVA has been the topic of a number of research analyst reports. Barclays upped their target price on ACV Auctions from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Stephens upgraded ACV Auctions to a “hold” rating in a research report on Monday, June 1st. Barrington Research cut ACV Auctions from an “outperform” rating to a “market perform” rating and set a $7.00 price target on the stock. in a research note on Monday, June 1st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research note on Wednesday, June 24th.

Institutional Trading of ACV Auctions

A number of hedge funds and other institutional investors have recently modified their holdings of ACVA. Iridian Asset Management LLC CT boosted its stake in ACV Auctions by 58.9% during the fourth quarter. Iridian Asset Management LLC CT now owns 2,989,152 shares of the company’s stock worth $23,973,000 after acquiring an additional 1,108,301 shares in the last quarter. True North Advisors LLC purchased a new stake in ACV Auctions in the first quarter worth about $743,000. Tudor Investment Corp ET AL increased its stake in shares of ACV Auctions by 116.3% during the third quarter. Tudor Investment Corp ET AL now owns 982,558 shares of the company’s stock valued at $9,737,000 after purchasing an additional 528,390 shares in the last quarter. UBS Group AG increased its stake in shares of ACV Auctions by 233.8% during the fourth quarter. UBS Group AG now owns 1,527,108 shares of the company’s stock valued at $12,247,000 after purchasing an additional 1,069,644 shares in the last quarter. Finally, Brighton Jones LLC purchased a new position in shares of ACV Auctions during the fourth quarter valued at approximately $392,000. 88.55% of the stock is owned by hedge funds and other institutional investors.

ACV Auctions Stock Performance

Shares of ACVA opened at $7.48 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47. ACV Auctions has a one year low of $4.07 and a one year high of $14.75. The company has a 50-day simple moving average of $6.83 and a two-hundred day simple moving average of $6.23. The firm has a market capitalization of $1.31 billion, a PE ratio of -21.38 and a beta of 1.82.

About ACV Auctions

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.