ACV Auctions (NYSE:ACVA) Upgraded by Barrington Research to Strong-Buy Rating

Barrington Research upgraded shares of ACV Auctions (NYSE:ACVA) from a hold rating to a strong-buy rating in a research note published on Monday,Zacks.com reports.

A number of other research analysts have also recently commented on ACVA. Barclays increased their price target on ACV Auctions from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 22nd. Stephens raised ACV Auctions to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of ACV Auctions in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, ACV Auctions currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.23.

ACV Auctions Stock Performance

Shares of ACV Auctions stock opened at $7.80 on Monday. The company’s 50 day moving average price is $6.87 and its two-hundred day moving average price is $6.22. The firm has a market capitalization of $1.36 billion, a P/E ratio of -22.27 and a beta of 1.82. ACV Auctions has a fifty-two week low of $4.07 and a fifty-two week high of $14.75. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.47 and a quick ratio of 1.47.

Hedge Funds Weigh In On ACV Auctions

Large investors have recently modified their holdings of the business. Versant Capital Management Inc grew its holdings in ACV Auctions by 28.8% in the second quarter. Versant Capital Management Inc now owns 6,187 shares of the company’s stock worth $44,000 after purchasing an additional 1,382 shares during the period. Fifth Third Bancorp raised its holdings in shares of ACV Auctions by 72.4% during the fourth quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after purchasing an additional 1,421 shares during the period. State of Wisconsin Investment Board boosted its position in shares of ACV Auctions by 3.1% during the 4th quarter. State of Wisconsin Investment Board now owns 55,897 shares of the company’s stock worth $448,000 after purchasing an additional 1,692 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of ACV Auctions by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 30,706 shares of the company’s stock valued at $246,000 after buying an additional 1,982 shares during the period. Finally, Hsbc Holdings PLC grew its stake in shares of ACV Auctions by 13.6% in the 2nd quarter. Hsbc Holdings PLC now owns 19,508 shares of the company’s stock valued at $318,000 after buying an additional 2,342 shares during the period. 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.