Jefferies Financial Group Increases ACV Auctions (NASDAQ:ACVA) Price Target to $25.00

ACV Auctions (NASDAQ:ACVA) had its price objective hoisted by Jefferies Financial Group from $22.00 to $25.00 in a research note released on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

ACVA has been the subject of several other reports. JMP Securities raised their price objective on ACV Auctions from $21.00 to $24.00 and gave the company a “market outperform” rating in a research note on Tuesday, September 17th. Raymond James began coverage on ACV Auctions in a research report on Friday, September 27th. They set a “market perform” rating and a $22.00 price target for the company. Finally, Barrington Research reissued an “outperform” rating and issued a $23.00 price target on shares of ACV Auctions in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

ACV Auctions Stock Down 1.1 %

ACVA opened at $17.56 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $19.17 and a 200-day simple moving average of $18.28. The stock has a market capitalization of $2.90 billion, a P/E ratio of -36.58 and a beta of 1.56. ACV Auctions has a 12 month low of $12.84 and a 12 month high of $21.10.

ACV Auctions (NASDAQ:ACVA) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.09) by $0.02. The business had revenue of $160.62 million during the quarter, compared to analysts’ expectations of $156.33 million. ACV Auctions had a negative return on equity of 13.20% and a negative net margin of 14.53%. On average, equities analysts anticipate that ACV Auctions will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at ACV Auctions

In related news, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now directly owns 490,482 shares in the company, valued at approximately $9,216,156.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, COO Vikas Mehta sold 154,324 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $19.19, for a total value of $2,961,477.56. Following the completion of the transaction, the chief operating officer now directly owns 432,457 shares in the company, valued at approximately $8,298,849.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William Zerella sold 32,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $18.79, for a total value of $610,675.00. Following the completion of the transaction, the chief financial officer now owns 490,482 shares of the company’s stock, valued at $9,216,156.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 741,926 shares of company stock valued at $14,285,765 over the last three months. 8.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ACV Auctions

A number of institutional investors have recently added to or reduced their stakes in ACVA. Park Place Capital Corp boosted its position in shares of ACV Auctions by 34.1% in the third quarter. Park Place Capital Corp now owns 2,779 shares of the company’s stock worth $56,000 after buying an additional 706 shares during the period. MCF Advisors LLC boosted its position in shares of ACV Auctions by 107.0% in the third quarter. MCF Advisors LLC now owns 1,480 shares of the company’s stock worth $30,000 after buying an additional 765 shares during the period. Amalgamated Bank boosted its position in shares of ACV Auctions by 18.0% in the second quarter. Amalgamated Bank now owns 5,120 shares of the company’s stock worth $93,000 after buying an additional 782 shares during the period. Blue Trust Inc. boosted its position in shares of ACV Auctions by 165.2% in the third quarter. Blue Trust Inc. now owns 1,419 shares of the company’s stock worth $29,000 after buying an additional 884 shares during the period. Finally, Blair William & Co. IL boosted its position in shares of ACV Auctions by 14.7% in the first quarter. Blair William & Co. IL now owns 12,691 shares of the company’s stock worth $238,000 after buying an additional 1,626 shares during the period. Hedge funds and other institutional investors own 88.55% of the company’s stock.

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.