Evercore ISI Boosts Carvana (NYSE:CVNA) Price Target to $157.00

Carvana (NYSE:CVNA) had its target price increased by Evercore ISI from $142.00 to $157.00 in a research note released on Monday morning, MarketBeat reports. They currently have an in-line rating on the stock.

CVNA has been the topic of a number of other reports. TD Cowen lifted their price objective on Carvana from $110.00 to $148.00 and gave the company a hold rating in a report on Thursday, August 1st. Piper Sandler lifted their price objective on Carvana from $105.00 to $151.00 and gave the company a neutral rating in a report on Thursday, August 1st. Morgan Stanley lifted their price objective on Carvana from $75.00 to $110.00 and gave the company an underweight rating in a report on Thursday, August 1st. JMP Securities reaffirmed a market outperform rating and set a $200.00 price objective on shares of Carvana in a report on Monday, September 9th. Finally, Stephens started coverage on Carvana in a report on Thursday, September 12th. They set an overweight rating and a $190.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $153.88.

Carvana Trading Up 3.3 %

Shares of CVNA opened at $161.67 on Monday. Carvana has a 12-month low of $25.09 and a 12-month high of $167.75. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $32.75 billion, a price-to-earnings ratio of 70.91 and a beta of 3.43. The stock’s 50-day moving average price is $140.93 and its 200 day moving average price is $113.71.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. As a group, research analysts predict that Carvana will post 0.18 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $115.77, for a total value of $6,946,200.00. Following the completion of the transaction, the insider now owns 937,500 shares in the company, valued at approximately $108,534,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $115.77, for a total value of $6,946,200.00. Following the completion of the transaction, the insider now owns 937,500 shares in the company, valued at approximately $108,534,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $124.08, for a total transaction of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Insiders sold 2,421,866 shares of company stock worth $331,583,884 in the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock valued at $904,642,000 after acquiring an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP raised its position in shares of Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares during the last quarter. First Trust Advisors LP increased its position in shares of Carvana by 17.1% in the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after buying an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC increased its position in shares of Carvana by 1.6% in the 4th quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock valued at $77,532,000 after buying an additional 23,140 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

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.