ACV Auctions Inc. (NYSE:ACVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ACV Auctions Inc. (NYSE:ACVA) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $10.45.

ACVA has been the topic of a number of analyst reports. Barrington Research raised shares of ACV Auctions from a “market perform” rating to an “outperform” rating in a research note on Tuesday, February 24th. CJS Securities upgraded shares of ACV Auctions to a “strong-buy” rating in a research note on Thursday, December 11th. Jefferies Financial Group downgraded ACV Auctions from a “buy” rating to a “hold” rating and set a $9.00 price objective on the stock. in a report on Thursday, December 11th. Wall Street Zen upgraded ACV Auctions from a “sell” rating to a “hold” rating in a research note on Sunday, February 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of ACV Auctions in a report on Monday, December 29th.

ACV Auctions Stock Down 4.5%

ACVA opened at $4.14 on Tuesday. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $17.54. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s fifty day moving average price is $6.22 and its two-hundred day moving average price is $7.69. The company has a market capitalization of $719.78 million, a P/E ratio of -10.88 and a beta of 1.69.

ACV Auctions (NYSE:ACVA) last announced its quarterly earnings data on Monday, February 23rd. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.10). The business had revenue of $183.65 million during the quarter, compared to analyst estimates of $181.96 million. ACV Auctions had a negative net margin of 8.71% and a negative return on equity of 6.17%. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.16) EPS.

Insider Transactions at ACV Auctions

In related news, CEO George Chamoun acquired 24,272 shares of the company’s stock in a transaction on Monday, March 9th. The stock was purchased at an average cost of $5.05 per share, for a total transaction of $122,573.60. Following the completion of the purchase, the chief executive officer directly owned 2,952,977 shares of the company’s stock, valued at $14,912,533.85. The trade was a 0.83% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ACV Auctions

Large investors have recently made changes to their positions in the company. Brighton Jones LLC bought a new position in ACV Auctions during the 4th quarter valued at about $392,000. Royal Bank of Canada grew its stake 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 last quarter. AQR Capital Management LLC acquired a new stake in shares of ACV Auctions during the first quarter worth approximately $197,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of ACV Auctions by 19.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 188,904 shares of the company’s stock worth $2,662,000 after buying an additional 30,299 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of ACV Auctions by 35.7% in the first 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 during the last quarter. Institutional investors own 88.55% of the company’s stock.

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.