ACV Auctions Inc. (NASDAQ:ACVA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of ACV Auctions Inc. (NASDAQ:ACVA) have been given an average rating of “Moderate Buy” by the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $23.05.

Several research analysts have commented on ACVA shares. Stephens raised ACV Auctions to a “hold” rating in a research report on Saturday, February 1st. Bank of America upgraded ACV Auctions from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $22.00 to $20.00 in a research report on Wednesday, March 12th. JMP Securities restated a “market outperform” rating and set a $25.00 price objective on shares of ACV Auctions in a research report on Monday, December 16th. Citigroup boosted their price objective on ACV Auctions from $22.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, B. Riley boosted their price objective on ACV Auctions from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th.

ACV Auctions Stock Down 4.1 %

Shares of ACVA stock opened at $14.10 on Friday. The stock’s 50 day simple moving average is $19.00 and its 200 day simple moving average is $19.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.56 and a current ratio of 1.56. ACV Auctions has a twelve month low of $12.77 and a twelve month high of $23.46. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of -28.78 and a beta of 1.73.

ACV Auctions (NASDAQ:ACVA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. ACV Auctions had a negative return on equity of 12.94% and a negative net margin of 12.51%. The business had revenue of $159.51 million for the quarter, compared to the consensus estimate of $156.77 million. As a group, research analysts predict that ACV Auctions will post -0.07 EPS for the current year.

Insider Activity

In related news, insider Michael Waterman sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $20.27, for a total value of $304,050.00. Following the completion of the sale, the insider now owns 311,354 shares in the company, valued at approximately $6,311,145.58. This represents a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $21.65, for a total value of $703,625.00. Following the completion of the sale, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $10,618,935.30. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 107,662 shares of company stock valued at $2,138,401 over the last 90 days. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On ACV Auctions

Large investors have recently modified their holdings of the business. Moody National Bank Trust Division increased its holdings in shares of ACV Auctions by 64.6% in the fourth quarter. Moody National Bank Trust Division now owns 79,199 shares of the company’s stock worth $1,711,000 after acquiring an additional 31,094 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of ACV Auctions during the third quarter worth about $566,000. TimesSquare Capital Management LLC grew its holdings in shares of ACV Auctions by 6.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,891,627 shares of the company’s stock worth $40,859,000 after buying an additional 118,421 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of ACV Auctions by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 3,167,615 shares of the company’s stock worth $64,398,000 after buying an additional 311,465 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of ACV Auctions during the third quarter worth about $2,035,000. 88.55% of the stock is currently owned by institutional investors.

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.