Bank of America Issues Pessimistic Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price decreased by analysts at Bank of America from $270.00 to $220.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target points to a potential upside of 21.30% from the company’s previous close.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. DA Davidson lifted their price objective on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Finally, Citigroup lifted their price objective on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Stock Up 8.8 %

Shares of NYSE:CVNA opened at $181.37 on Friday. The firm has a fifty day moving average price of $228.94 and a two-hundred day moving average price of $213.86. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana has a one year low of $67.61 and a one year high of $292.84. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 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 firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Analysts anticipate that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 189,097 shares of the company’s stock, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,784 shares of company stock valued at $18,599,844. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC boosted its stake in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after acquiring an additional 51 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after buying an additional 77 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after buying an additional 78 shares in the last quarter. Institutional investors 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.