ACV Auctions (NYSE:ACVA) Rating Increased to Strong-Buy at Barrington Research

ACV Auctions (NYSE:ACVA) was upgraded by research analysts at Barrington Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

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

ACV Auctions Stock Up 4.1%

ACVA opened at $7.80 on Monday. The company has a market cap of $1.36 billion, a PE ratio of -22.27 and a beta of 1.82. ACV Auctions has a twelve month low of $4.07 and a twelve month high of $14.75. The company has a 50-day moving average price of $6.87 and a 200 day moving average price of $6.22. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.46.

Hedge Funds Weigh In On ACV Auctions

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp raised its holdings in ACV Auctions by 72.4% in the 4th quarter. Fifth Third Bancorp now owns 3,383 shares of the company’s stock valued at $27,000 after acquiring an additional 1,421 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in ACV Auctions by 2,573.8% in the 4th 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 in the last quarter. Larson Financial Group LLC lifted its stake in ACV Auctions by 38,076.9% in the 4th 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 in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of ACV Auctions by 12,979.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,755 shares of the company’s stock worth $46,000 after purchasing an additional 5,711 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of ACV Auctions by 28.8% during the 2nd 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 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.