ACV Auctions Inc. (NASDAQ:ACVA – Get Rating) has been assigned a consensus recommendation of “Buy” from the twelve analysts that are presently covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $16.42.
ACVA has been the subject of several recent analyst reports. Guggenheim reduced their price objective on shares of ACV Auctions to $22.00 in a research note on Monday, August 15th. Citigroup reduced their price objective on shares of ACV Auctions from $13.00 to $11.00 in a research note on Thursday, November 10th. Jefferies Financial Group reduced their price objective on shares of ACV Auctions from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, October 6th. Needham & Company LLC raised their price objective on shares of ACV Auctions from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, September 7th. Finally, Canaccord Genuity Group reduced their price objective on shares of ACV Auctions from $18.00 to $12.00 in a research note on Thursday, November 10th.
Insiders Place Their Bets
In other news, CEO George Chamoun sold 82,070 shares of the business’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $8.90, for a total value of $730,423.00. Following the completion of the transaction, the chief executive officer now owns 220,559 shares of the company’s stock, valued at $1,962,975.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 11.64% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On ACV Auctions
ACV Auctions Stock Down 2.8 %
Shares of NASDAQ ACVA opened at $8.60 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.14. ACV Auctions has a 52 week low of $6.10 and a 52 week high of $22.82. The firm has a 50-day moving average price of $8.47 and a 200 day moving average price of $8.24. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -12.84 and a beta of 1.49.
ACV Auctions Company Profile
ACV Auctions Inc operates a digital marketplace that connects buyers and sellers for the online auction of wholesale vehicles. It also provides data services that offer insights into the condition and value of used vehicles, as well as offers customer financing services. ACV Auctions Inc was incorporated in 2014 and is headquartered in Buffalo, New York.
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