ACV Auctions (NYSE:ACVA) Earns “Underperform” Rating from Barrington Research

ACV Auctions (NYSE:ACVA)‘s stock had its “underperform” rating reissued by analysts at Barrington Research in a research note issued on Friday, Benzinga reports.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC downgraded shares of ACV Auctions from a “buy” rating to a “hold” rating in a research note on Friday. Citizens Jmp cut ACV Auctions from an “outperform” rating to a “market perform” rating in a research report on Tuesday, August 11th. Stephens upgraded ACV Auctions from an “equal weight” rating to an “overweight” rating and set a $10.50 target price on the stock in a report on Tuesday, August 11th. Bank of America reissued an “underperform” rating on shares of ACV Auctions in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded ACV Auctions from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.50.

ACV Auctions Trading Up 44.4%

Shares of NYSE:ACVA traded up $3.21 on Friday, hitting $10.43. The company had a trading volume of 94,502,816 shares, compared to its average volume of 4,031,416. The firm’s 50-day simple moving average is $7.43 and its two-hundred day simple moving average is $6.16. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -28.96 and a beta of 1.84. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.53. ACV Auctions has a 1 year low of $4.07 and a 1 year high of $10.60.

Hedge Funds Weigh In On ACV Auctions

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in ACV Auctions during the 1st quarter valued at approximately $815,000. Quantinno Capital Management LP boosted its stake in ACV Auctions by 215.8% in the 1st quarter. Quantinno Capital Management LP now owns 425,494 shares of the company’s stock worth $1,804,000 after purchasing an additional 290,739 shares during the period. True North Advisors LLC purchased a new stake in ACV Auctions during the 1st quarter valued at approximately $743,000. Fifth Third Bancorp raised its position in shares of ACV Auctions by 3,753.7% during the first quarter. Fifth Third Bancorp now owns 130,370 shares of the company’s stock valued at $553,000 after buying an additional 126,987 shares during the last quarter. Finally, UBS Group AG raised its position in shares of ACV Auctions by 233.8% during the fourth quarter. UBS Group AG now owns 1,527,108 shares of the company’s stock valued at $12,247,000 after buying an additional 1,069,644 shares during the last quarter. 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.