Carvana Co. (NYSE:CVNA) Given Average Rating of “Hold” by Brokerages

Carvana Co. (NYSE:CVNA) has received a consensus recommendation of “Hold” from the seventeen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $143.73.

Several equities research analysts recently issued reports on the stock. Evercore ISI reduced their target price on shares of Carvana from $150.00 to $142.00 and set an “in-line” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC raised their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Wedbush reissued a “neutral” rating and set a $120.00 price target on shares of Carvana in a report on Monday, July 29th. Finally, Royal Bank of Canada upped their price objective on Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 2nd.

Carvana Stock Performance

NYSE:CVNA opened at $133.48 on Thursday. The stock has a 50-day simple moving average of $124.27 and a two-hundred day simple moving average of $96.68. The company has a debt-to-equity ratio of 47.20, a quick ratio of 1.62 and a current ratio of 3.11. Carvana has a 52-week low of $25.09 and a 52-week high of $154.00. The firm has a market capitalization of $27.04 billion, a PE ratio of 58.54 and a beta of 3.37.

Insider Activity

In other Carvana news, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares in the company, valued at $53,905,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.25, for a total transaction of $496,250.00. Following the transaction, the chief financial officer now owns 192,552 shares of the company’s stock, valued at approximately $19,110,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel J. Gill sold 20,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $150.00, for a total transaction of $3,000,000.00. Following the completion of the transaction, the insider now owns 359,370 shares of the company’s stock, valued at $53,905,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,453,234 shares of company stock valued at $300,874,177. 17.12% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of the business. CWM LLC boosted its position in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after acquiring an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Carvana by 1.8% during the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after acquiring an additional 182 shares during the period. Parallel Advisors LLC boosted its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. American Century Companies Inc. grew its holdings in Carvana by 2.6% in the second quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after purchasing an additional 241 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new stake in Carvana in the 2nd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.