Carvana Co. (NYSE:CVNA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average recommendation of “Moderate Buy” from the nineteen analysts that are presently covering the stock, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $241.94.

Several equities research analysts recently commented on CVNA shares. Jefferies Financial Group increased their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada raised shares of Carvana from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $280.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. raised their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th.

Carvana Stock Performance

Shares of Carvana stock opened at $245.10 on Thursday. The business has a fifty day simple moving average of $230.89 and a two-hundred day simple moving average of $192.84. The firm has a market capitalization of $50.89 billion, a P/E ratio of 24,534.43 and a beta of 3.38. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the firm earned $0.23 EPS. The company’s revenue was up 31.8% on a year-over-year basis. On average, equities analysts forecast that Carvana will post 0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory B. Sullivan sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $235.00, for a total value of $1,175,000.00. Following the completion of the transaction, the director now owns 53,407 shares in the company, valued at $12,550,645. The trade was a 8.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 347,340 shares of company stock valued at $81,044,588. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently added to or reduced their stakes in CVNA. Quent Capital LLC bought a new position in shares of Carvana during the fourth quarter worth $28,000. Sugarloaf Wealth Management LLC bought a new position in shares of Carvana during the 3rd quarter valued at about $32,000. ORG Wealth Partners LLC bought a new position in shares of Carvana during the 4th quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new position in shares of Carvana during the third quarter valued at about $40,000. Finally, Versant Capital Management Inc bought a new stake in shares of Carvana in the fourth quarter worth about $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.