Carvana Co. (NYSE:CVNA) Receives Average Recommendation of “Moderate Buy” from Analysts

Carvana Co. (NYSE:CVNA) has been given a consensus rating of “Moderate Buy” by the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $265.06.

CVNA has been the subject of several research analyst reports. Piper Sandler upped their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Stephens set a $300.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research report on Wednesday. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Carvana from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Citigroup increased their price objective on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday.

Carvana Trading Down 9.9 %

CVNA stock opened at $223.14 on Monday. The company’s 50-day simple moving average is $234.35 and its 200-day simple moving average is $208.84. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana has a 52-week low of $49.38 and a 52-week high of $292.84. The firm has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping 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. As a group, equities analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,629 shares of company stock valued at $44,833,799. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently modified their holdings of CVNA. Raymond James & Associates grew its stake in shares of Carvana by 28.8% in the third quarter. Raymond James & Associates now owns 13,577 shares of the company’s stock worth $2,364,000 after acquiring an additional 3,033 shares in the last quarter. Signaturefd LLC grew its stake in shares of Carvana by 30.9% during the third quarter. Signaturefd LLC now owns 1,842 shares of the company’s stock worth $321,000 after purchasing an additional 435 shares in the last quarter. Private Advisor Group LLC grew its stake in shares of Carvana by 16.7% during the third quarter. Private Advisor Group LLC now owns 30,514 shares of the company’s stock worth $5,313,000 after purchasing an additional 4,372 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Carvana during the third quarter worth $246,000. Finally, Highland Capital Management LLC acquired a new position in shares of Carvana during the third quarter worth $1,314,000. 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.