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

Carvana (NYSE:CVNA) had its price target lifted by investment analysts at Evercore ISI from $142.00 to $157.00 in a research report issued on Monday, MarketBeat Ratings reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would suggest a potential upside of 0.27% from the stock’s previous close.

A number of other equities research analysts have also issued reports on CVNA. DA Davidson raised their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Needham & Company LLC increased their price objective on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. TD Cowen upped their target price on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Stephens started coverage on shares of Carvana in a report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price target on the stock. Finally, JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. One investment 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, Carvana presently has an average rating of “Hold” and an average target price of $153.88.

Carvana Stock Performance

Carvana stock opened at $156.57 on Monday. The firm has a fifty day simple moving average of $140.31 and a two-hundred day simple moving average of $113.19. Carvana has a twelve month low of $25.09 and a twelve month high of $159.85. The company has a market capitalization of $31.72 billion, a PE ratio of 68.67 and a beta of 3.43. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Research analysts expect that Carvana will post 0.18 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, insider Thomas Taira sold 25,000 shares of Carvana stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now directly owns 161,397 shares in the company, valued at $19,367,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Thomas Taira sold 25,000 shares of Carvana stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.00, for a total transaction of $3,000,000.00. Following the transaction, the insider now owns 161,397 shares in the company, valued at approximately $19,367,640. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the sale, the insider now owns 114,124 shares of the company’s stock, valued at approximately $16,547,980. The disclosure for this sale can be found here. Insiders sold a total of 2,481,866 shares of company stock worth $338,115,484 in the last three months. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

Several hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new position in shares of Carvana during the second quarter valued at approximately $32,000. Parallel Advisors LLC raised its stake in shares of Carvana by 39.0% during the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. Summit Securities Group LLC lifted its holdings in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp lifted its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. Finally, Tidemark LLC purchased a new position in Carvana during the 4th quarter valued at about $50,000. 56.71% of the stock is currently 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.