Analysts Set ACV Auctions Inc. (NYSE:ACVA) Price Target at $9.50

Shares of ACV Auctions Inc. (NYSE:ACVA) have been assigned an average rating of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, six have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have covered the stock in the last year is $9.50.

A number of research analysts recently commented on ACVA shares. Stephens raised ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 price target on the stock in a report on Tuesday, August 11th. Citizens Jmp downgraded shares of ACV Auctions from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 11th. Barclays lowered 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 research report on Tuesday, August 11th. Bank of America reaffirmed an “underperform” rating on shares of ACV Auctions in a research note on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th.

ACV Auctions Stock Performance

NYSE:ACVA opened at $7.43 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50-day simple moving average of $7.31 and a two-hundred day simple moving average of $6.14. The firm has a market capitalization of $1.26 billion, a PE ratio of -20.64 and a beta of 1.82. ACV Auctions has a 52-week low of $4.07 and a 52-week high of $12.21.

Hedge Funds Weigh In On ACV Auctions

A number of hedge funds and other institutional investors have recently made changes to their positions in ACVA. Brighton Jones LLC purchased a new position in ACV Auctions during the fourth quarter valued at approximately $392,000. Royal Bank of Canada lifted its holdings in ACV Auctions by 14.3% during the first quarter. Royal Bank of Canada now owns 83,187 shares of the company’s stock worth $1,173,000 after buying an additional 10,382 shares during the period. AQR Capital Management LLC purchased a new stake in ACV Auctions during the first quarter worth $197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in ACV Auctions by 19.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 188,904 shares of the company’s stock valued at $2,662,000 after acquiring an additional 30,299 shares in the last quarter. Finally, Millennium Management LLC boosted its position in ACV Auctions by 35.7% during the 1st quarter. Millennium Management LLC now owns 728,697 shares of the company’s stock valued at $10,267,000 after acquiring an additional 191,883 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.