ACV Auctions’ (ACVA) “Outperform” Rating Reaffirmed at Barrington Research

Barrington Research restated their outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a report issued on Monday morning, Benzinga reports. They currently have a $23.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upgraded shares of ACV Auctions from a neutral rating to an overweight rating and set a $21.00 target price for the company in a research note on Monday, June 10th. Needham & Company LLC reissued a buy rating and issued a $23.00 target price on shares of ACV Auctions in a research report on Monday, June 3rd. JMP Securities reaffirmed a market outperform rating and set a $21.00 price target on shares of ACV Auctions in a research report on Wednesday, July 10th. Finally, Piper Sandler increased their price objective on ACV Auctions from $15.00 to $16.00 and gave the company a neutral rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $21.00.

ACV Auctions Stock Up 21.7 %

ACV Auctions stock opened at $18.05 on Monday. ACV Auctions has a 1-year low of $12.84 and a 1-year high of $19.63. The business has a fifty day moving average price of $17.63 and a 200-day moving average price of $17.23. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of -37.60 and a beta of 1.54.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.01). ACV Auctions had a negative return on equity of 13.50% and a negative net margin of 15.28%. The business had revenue of $145.69 million during the quarter, compared to analyst estimates of $144.14 million. Equities research analysts forecast that ACV Auctions will post -0.37 EPS for the current fiscal year.

Insider Transactions at ACV Auctions

In related news, Director Brian Hirsch sold 8,221 shares of ACV Auctions stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $18.29, for a total transaction of $150,362.09. Following the completion of the transaction, the director now directly owns 95,520 shares in the company, valued at $1,747,060.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Brian Hirsch sold 8,221 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $18.29, for a total transaction of $150,362.09. Following the sale, the director now directly owns 95,520 shares of the company’s stock, valued at $1,747,060.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William Zerella sold 32,500 shares of ACV Auctions stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $15.19, for a total transaction of $493,675.00. Following the completion of the transaction, the chief financial officer now directly owns 503,077 shares of the company’s stock, valued at approximately $7,641,739.63. The disclosure for this sale can be found here. Insiders have sold 711,869 shares of company stock worth $12,671,967 over the last quarter. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ACV Auctions

Large investors have recently bought and sold shares of the business. John G Ullman & Associates Inc. increased its position in shares of ACV Auctions by 1.5% in the fourth quarter. John G Ullman & Associates Inc. now owns 66,284 shares of the company’s stock valued at $1,004,000 after buying an additional 1,000 shares in the last quarter. Arizona State Retirement System increased its holdings in ACV Auctions by 4.1% in the 4th quarter. Arizona State Retirement System now owns 38,400 shares of the company’s stock worth $582,000 after acquiring an additional 1,500 shares in the last quarter. Blair William & Co. IL increased its holdings in ACV Auctions by 14.7% in the 1st quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after acquiring an additional 1,626 shares in the last quarter. ProShare Advisors LLC lifted its holdings in ACV Auctions by 8.5% during the first quarter. ProShare Advisors LLC now owns 22,843 shares of the company’s stock valued at $429,000 after purchasing an additional 1,798 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of ACV Auctions by 6.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 77,547 shares of the company’s stock valued at $1,456,000 after purchasing an additional 4,621 shares during the period. Institutional investors and hedge funds own 88.55% of the company’s stock.

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.