ACV Auctions (NASDAQ:ACVA) Earns “Outperform” Rating from Barrington Research

Barrington Research reiterated their outperform rating on shares of ACV Auctions (NASDAQ:ACVA) in a research note published on Monday, Benzinga reports. They currently have a $23.00 price target on the stock.

Several other analysts have also recently weighed in on the company. Northcoast Research raised ACV Auctions from a neutral rating to a buy rating and set a $22.00 price target on the stock in a report on Wednesday, January 10th. Needham & Company LLC reiterated a buy rating and set a $23.00 target price on shares of ACV Auctions in a research report on Thursday, February 22nd. Finally, JMP Securities reissued a market outperform rating and issued a $19.00 price target on shares of ACV Auctions in a report on Wednesday, April 17th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $20.21.

ACV Auctions Trading Down 2.5 %

Shares of ACVA opened at $17.32 on Monday. ACV Auctions has a twelve month low of $12.84 and a twelve month high of $19.54. The stock has a market cap of $2.84 billion, a PE ratio of -37.65 and a beta of 1.56. The company has a quick ratio of 2.12, a current ratio of 2.12 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $18.04 and its 200-day moving average price is $15.74.

ACV Auctions (NASDAQ:ACVA) last posted its earnings results on Wednesday, February 21st. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. The business had revenue of $118.38 million for the quarter, compared to analysts’ expectations of $117.62 million. ACV Auctions had a negative net margin of 15.64% and a negative return on equity of 13.97%. On average, equities analysts forecast that ACV Auctions will post -0.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO George Chamoun sold 124,999 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $18.42, for a total transaction of $2,302,481.58. Following the completion of the sale, the chief executive officer now directly owns 597,921 shares in the company, valued at approximately $11,013,704.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO George Chamoun sold 124,999 shares of ACV Auctions stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $18.42, for a total value of $2,302,481.58. Following the transaction, the chief executive officer now directly owns 597,921 shares of the company’s stock, valued at $11,013,704.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William Zerella sold 50,000 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $18.72, for a total transaction of $936,000.00. Following the sale, the chief financial officer now owns 323,286 shares of the company’s stock, valued at $6,051,913.92. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,475,208 shares of company stock valued at $26,669,099. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust bought a new stake in shares of ACV Auctions in the 3rd quarter worth approximately $66,000. Allspring Global Investments Holdings LLC purchased a new position in ACV Auctions during the 3rd quarter valued at $72,000. UMB Bank n.a. bought a new stake in shares of ACV Auctions during the 1st quarter valued at about $114,000. Penn Mutual Asset Management LLC purchased a new position in shares of ACV Auctions during the fourth quarter valued at about $153,000. Finally, Versor Investments LP raised its stake in ACV Auctions by 19.5% in the third quarter. Versor Investments LP now owns 11,974 shares of the company’s stock worth $182,000 after buying an additional 1,950 shares in the last quarter. Hedge funds and other institutional investors own 88.55% of the company’s stock.

About ACV Auctions

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.