Evercore ISI Lowers Carvana (NYSE:CVNA) Price Target to $240.00

Carvana (NYSE:CVNA) had its price target lowered by equities researchers at Evercore ISI from $250.00 to $240.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s price target suggests a potential upside of 33.62% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research report on Monday, March 3rd. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. DA Davidson boosted their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $265.65.

Carvana Stock Up 4.3 %

CVNA stock opened at $179.62 on Tuesday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a fifty day simple moving average of $229.54 and a 200 day simple moving average of $213.65. The firm has a market cap of $38.29 billion, a PE ratio of 114.41 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Sell-side analysts anticipate that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now directly owns 199,962 shares in the company, valued at approximately $55,125,524.16. The trade was a 9.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,784 shares of company stock valued at $18,599,844 over the last quarter. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

Several large investors have recently added to or reduced their stakes in CVNA. Sigma Planning Corp bought a new stake in Carvana during the third quarter worth about $228,000. Axxcess Wealth Management LLC bought a new stake in Carvana during the third quarter worth about $784,000. State of New Jersey Common Pension Fund D grew its stake in Carvana by 5.4% during the third quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock worth $6,839,000 after buying an additional 2,004 shares during the last quarter. Entropy Technologies LP grew its stake in Carvana by 428.5% during the third quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock worth $4,099,000 after buying an additional 19,087 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new stake in Carvana during the third quarter worth about $439,000. 56.71% of the stock is 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.