Brokerages Set ACV Auctions Inc. (NYSE:ACVA) PT at $10.23

ACV Auctions Inc. (NYSE:ACVA) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $10.2273.

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

ACV Auctions Trading Down 1.6%

Shares of NYSE:ACVA opened at $8.05 on Monday. The company’s 50-day moving average price is $6.76 and its two-hundred day moving average price is $6.24. 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 stock has a market capitalization of $1.41 billion, a PE ratio of -23.01 and a beta of 1.82.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors have recently added to or reduced their stakes in ACVA. Fifth Third Bancorp increased its stake in shares of ACV Auctions by 72.4% during the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock worth $27,000 after purchasing an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in ACV Auctions by 2,573.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock worth $30,000 after purchasing an additional 3,629 shares during the period. Larson Financial Group LLC grew its holdings in ACV Auctions by 38,076.9% during the fourth quarter. Larson Financial Group LLC now owns 4,963 shares of the company’s stock worth $40,000 after purchasing an additional 4,950 shares during the period. Farther Finance Advisors LLC increased its position in ACV Auctions by 12,979.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock worth $46,000 after buying an additional 5,711 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in ACV Auctions by 28.8% during the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after buying an additional 1,382 shares during the last quarter. 88.55% of the stock is currently owned by institutional investors and hedge funds.

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.