Robert W. Baird Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA) had its target price lifted by analysts at Robert W. Baird from $200.00 to $250.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 12.04% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Citigroup raised Carvana from a “neutral” rating to a “buy” rating and raised their price target for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price objective on shares of Carvana in a report on Tuesday, January 7th. Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $270.00 to $280.00 in a report on Tuesday, January 7th. Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Thursday, February 6th. Finally, Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $265.06.

Carvana Stock Down 9.9 %

Carvana stock opened at $223.14 on Thursday. The stock’s fifty day moving average is $234.35 and its two-hundred day moving average is $207.79. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana has a 1-year low of $49.38 and a 1-year high of $292.84. The stock has a market cap of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 446.67% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. On average, sell-side analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira J. Platt sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total value of $6,107,500.00. Following the sale, the director now directly owns 5,227 shares in the company, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quent Capital LLC bought a new position in Carvana during the 4th quarter worth $28,000. Global Retirement Partners LLC grew its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth $31,000. ORG Wealth Partners LLC bought a new position in Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana during the 4th quarter worth $42,000. 56.71% of the stock is currently owned by 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.