Carvana (NYSE:CVNA) Given Buy Rating at Bank of America

Bank of America reaffirmed their buy rating on shares of Carvana (NYSE:CVNA) in a report issued on Tuesday morning, MarketBeat.com reports. They currently have a $185.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Evercore ISI boosted their target price on shares of Carvana from $142.00 to $157.00 and gave the company an in-line rating in a research note on Monday. DA Davidson boosted their target price on shares of Carvana from $110.00 to $155.00 and gave the company a neutral rating in a research note on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a sector perform rating and boosted their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. JPMorgan Chase & Co. boosted their target price on shares of Carvana from $150.00 to $155.00 and gave the company an overweight rating in a research note on Friday, July 19th. Finally, Robert W. Baird began coverage on shares of Carvana in a research note on Thursday, August 1st. They set a neutral rating and a $160.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $153.88.

Carvana Trading Up 2.4 %

NYSE:CVNA opened at $156.57 on Tuesday. The company has a market capitalization of $31.72 billion, a PE ratio of 68.67 and a beta of 3.43. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana has a 52-week low of $25.09 and a 52-week high of $159.85. The stock has a fifty day simple moving average of $140.31 and a 200-day simple moving average of $113.19.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, equities research analysts expect that Carvana will post 0.18 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the completion of the sale, the insider now owns 1,057,500 shares in the company, valued at approximately $115,119,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $108.86, for a total value of $6,531,600.00. Following the completion of the transaction, the insider now owns 1,057,500 shares in the company, valued at approximately $115,119,450. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.00, for a total value of $3,000,000.00. Following the completion of the transaction, the insider now owns 161,397 shares of the company’s stock, valued at approximately $19,367,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,481,866 shares of company stock worth $338,115,484. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC boosted its stake in shares of Carvana by 19.5% during the 2nd quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Carvana by 1.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock valued at $1,333,000 after buying an additional 182 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after acquiring an additional 194 shares in the last quarter. American Century Companies Inc. raised its position in shares of Carvana by 2.6% during the 2nd quarter. American Century Companies Inc. now owns 9,365 shares of the company’s stock valued at $1,205,000 after acquiring an additional 241 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Carvana during the 2nd quarter valued at approximately $32,000. 56.71% of the stock is currently owned by hedge funds and other 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.