JPMorgan Chase & Co. Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $365.00 to $325.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 59.00% from the company’s previous close.

Several other equities analysts also recently weighed in on CVNA. JMP Securities reiterated a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Royal Bank of Canada boosted their target price on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Wedbush set a $250.00 price objective on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $261.53.

Carvana Price Performance

Carvana stock opened at $204.40 on Thursday. The firm’s 50-day moving average is $227.25 and its two-hundred day moving average is $216.89. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market capitalization of $43.57 billion, a P/E ratio of 130.19 and a beta of 3.56. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS 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 analysts’ expectations of $3.32 billion. Equities analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insiders Place Their Bets

In other Carvana news, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now directly owns 179,673 shares of the company’s stock, valued at $40,431,815.19. This represents a 13.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock worth $44,251,096 in the last 90 days. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Quent Capital LLC bought a new stake in shares of Carvana in the fourth quarter worth $28,000. Global Retirement Partners LLC grew its holdings 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 acquiring an additional 78 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana in the 4th quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of Carvana in the 4th quarter valued at about $34,000. Finally, Versant Capital Management Inc bought a new position in shares of Carvana during the fourth quarter worth about $42,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.