Carvana’s (CVNA) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of Carvana (NYSE:CVNA) in a research note published on Thursday,Benzinga reports. The brokerage currently has a $300.00 target price on the stock.

Several other research firms have also recently issued reports on CVNA. Wedbush raised their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC raised their target price on shares of Carvana from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Finally, Evercore ISI upped their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Carvana presently has an average rating of “Hold” and a consensus target price of $229.18.

Carvana Stock Down 1.9 %

CVNA stock opened at $199.56 on Thursday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company’s 50 day simple moving average is $237.18 and its 200-day simple moving average is $179.97. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34. The firm has a market capitalization of $41.43 billion, a PE ratio of 19,975.98 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the business posted $0.23 EPS. The business’s quarterly revenue was up 31.8% on a year-over-year basis. Equities analysts expect that Carvana will post 0.76 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $180.49, for a total value of $18,049,000.00. Following the sale, the insider now directly owns 38,658,131 shares of the company’s stock, valued at $6,977,406,064.19. This represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the transaction, the chief operating officer now directly owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,241,908 shares of company stock worth $253,935,785 over the last ninety days. Corporate insiders own 17.18% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Raymond James & Associates increased its holdings in shares of Carvana by 154.1% in the 2nd quarter. Raymond James & Associates now owns 10,544 shares of the company’s stock valued at $1,357,000 after acquiring an additional 6,394 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Carvana by 3,218.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,318 shares of the company’s stock worth $427,000 after purchasing an additional 3,218 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Carvana by 5.7% during the second quarter. Commonwealth Equity Services LLC now owns 4,976 shares of the company’s stock worth $641,000 after purchasing an additional 270 shares during the period. Natixis Advisors LLC bought a new position in shares of Carvana in the 2nd quarter worth about $10,147,000. Finally, CIBC Asset Management Inc boosted its holdings in shares of Carvana by 22.3% in the 2nd quarter. CIBC Asset Management Inc now owns 3,251 shares of the company’s stock valued at $418,000 after buying an additional 593 shares during the period. Institutional investors and hedge funds 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.