Zacks Research Upgrades ACV Auctions (NYSE:ACVA) to Strong-Buy

ACV Auctions (NYSE:ACVA) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on ACVA. Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research note on Tuesday, October 14th. Wall Street Zen cut shares of ACV Auctions from a “buy” rating to a “hold” rating in a report on Friday, July 18th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, ACV Auctions presently has an average rating of “Moderate Buy”.

ACV Auctions Stock Up 0.6%

Shares of ACVA opened at $9.39 on Wednesday. The stock has a market capitalization of $1.62 billion, a P/E ratio of -24.08 and a beta of 1.64. ACV Auctions has a 52 week low of $8.33 and a 52 week high of $23.46. The business has a 50-day moving average of $10.33. The company has a quick ratio of 1.59, a current ratio of 1.60 and a debt-to-equity ratio of 0.42.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.02. ACV Auctions had a negative return on equity of 10.21% and a negative net margin of 9.09%.The company had revenue of $193.70 million during the quarter, compared to the consensus estimate of $196.09 million.

About ACV Auctions

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.