Carvana (NYSE:CVNA) Raised to Overweight at Piper Sandler

Carvana (NYSE:CVNA) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has a $225.00 target price on the stock. Piper Sandler’s target price would indicate a potential upside of 17.57% from the company’s previous close.

Other analysts have also issued reports about the company. Citigroup boosted their price objective on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Royal Bank of Canada boosted their price objective on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Evercore ISI decreased their price objective on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a report on Tuesday, March 11th. Wedbush set a $250.00 price objective on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Finally, Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Stock Up 3.2 %

CVNA stock opened at $191.38 on Thursday. The stock’s 50 day simple moving average is $227.57 and its 200 day simple moving average is $214.47. Carvana has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a market cap of $40.80 billion, a P/E ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts expect that Carvana will post 2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 over the last ninety days. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

A number of large investors have recently bought and sold shares of CVNA. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC boosted its holdings 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 acquiring an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in shares of Carvana in the fourth quarter worth $31,000. ORG Wealth Partners LLC bought a new position in shares of Carvana in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana in the fourth quarter worth $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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.