ACV Auctions (NYSE:ACVA) Downgraded to Hold Rating by Zacks Research

Zacks Research cut shares of ACV Auctions (NYSE:ACVA) from a strong-buy rating to a hold rating in a research note published on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Barclays upgraded ACV Auctions to a “hold” rating in a research report on Tuesday. Barrington Research lowered shares of ACV Auctions from an “outperform” rating to a “hold” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ACV Auctions in a research report on Tuesday, October 14th. Finally, Wall Street Zen lowered shares of ACV Auctions from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

ACV Auctions Trading Down 1.9%

ACVA stock traded down $0.12 during trading on Wednesday, reaching $6.25. 5,389,306 shares of the stock were exchanged, compared to its average volume of 2,649,520. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -14.53 and a beta of 1.63. The stock has a 50 day simple moving average of $9.15. ACV Auctions has a 1 year low of $4.95 and a 1 year high of $23.46.

ACV Auctions (NYSE:ACVA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.10). The firm had revenue of $199.56 million during the quarter. ACV Auctions had a negative net margin of 9.89% and a negative return on equity of 7.95%.

About ACV Auctions

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.