Carvana (NYSE:CVNA) Price Target Raised to $157.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price objective hoisted by Evercore ISI from $142.00 to $157.00 in a report issued on Monday, Marketbeat reports. They currently have an in-line rating on the stock.

Other analysts also recently issued reports about the stock. Wells Fargo & Company raised shares of Carvana from an equal weight rating to an overweight rating and boosted their target price for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. DA Davidson upped their price objective on shares of Carvana from $110.00 to $155.00 and gave the stock a neutral rating in a report on Thursday, August 1st. Robert W. Baird assumed coverage on Carvana in a report on Thursday, August 1st. They set a neutral rating and a $160.00 target price on the stock. BTIG Research upped their price target on Carvana from $155.00 to $188.00 and gave the stock a buy rating in a research note on Thursday, August 1st. Finally, Stephens started coverage on Carvana in a research note on Thursday, September 12th. They issued an overweight rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $153.88.

Carvana Price Performance

CVNA opened at $170.72 on Monday. The stock has a fifty day moving average price of $141.54 and a 200 day moving average price of $114.04. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. Carvana has a 1 year low of $25.09 and a 1 year high of $171.67. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 74.88 and a beta of 3.43.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. Analysts forecast that Carvana will post 0.18 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, major shareholder Ernest C. Garcia II sold 9,186 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $156.95, for a total value of $1,441,742.70. Following the completion of the sale, the insider now owns 41,433,131 shares in the company, valued at $6,502,929,910.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Ernest C. Garcia II sold 9,186 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $156.95, for a total transaction of $1,441,742.70. Following the sale, the insider now directly owns 41,433,131 shares in the company, valued at $6,502,929,910.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $115.77, for a total value of $6,946,200.00. Following the completion of the transaction, the insider now directly owns 937,500 shares of the company’s stock, valued at $108,534,375. The disclosure for this sale can be found here. Insiders sold a total of 2,521,866 shares of company stock worth $347,083,884 in the last ninety days. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after acquiring an additional 2,112,463 shares in the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of Carvana by 1.4% during the second quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the period. First Trust Advisors LP boosted its stake in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after purchasing an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC grew its holdings in shares of Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after purchasing an additional 23,140 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.