ACV Auctions (ACVA) Expected to Announce Earnings on Wednesday

ACV Auctions (NASDAQ:ACVA) is expected to be releasing its earnings data after the market closes on Wednesday, February 19th. Analysts expect ACV Auctions to post earnings of ($0.15) per share and revenue of $156.77 million for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

ACV Auctions Price Performance

Shares of NASDAQ ACVA opened at $21.59 on Tuesday. The business’s 50 day moving average is $21.29 and its two-hundred day moving average is $20.09. The firm has a market cap of $3.62 billion, a price-to-earnings ratio of -45.94 and a beta of 1.69. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.25. ACV Auctions has a 52-week low of $13.66 and a 52-week high of $23.46.

Insider Activity

In related news, CFO William Zerella sold 32,500 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $22.41, for a total transaction of $728,325.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares of the company’s stock, valued at $10,991,701.62. This represents a 6.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Waterman sold 15,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total transaction of $304,050.00. Following the transaction, the insider now directly owns 311,354 shares of the company’s stock, valued at $6,311,145.58. This represents a 4.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 125,162 shares of company stock valued at $2,663,776. Insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ACVA. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of ACV Auctions in a research note on Monday, November 4th. Jefferies Financial Group upped their price objective on shares of ACV Auctions from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley upped their price objective on shares of ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective (up previously from $26.00) on shares of ACV Auctions in a research note on Thursday, December 26th. Finally, Stephens upgraded shares of ACV Auctions to a “hold” rating in a research note on Saturday, February 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.65.

ACV Auctions Company Profile

ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. The company’s marketplace platform includes digital marketplace, which connects buyers and sellers by providing online auction, which facilitates real-time transactions of wholesale vehicles; Run List for pre-filtering and pre-screening of vehicles up to 24 hours prior to an auction taking place; ACV transportation service to enable the buyers to see real-time transportation quotes and status reports of the vehicle; ACV capital, a short-term inventory financing services for buyers to purchase vehicles; and Go Green’s seller assurance service for against claims related to defects in the vehicle.