Carvana Co. (NYSE:CVNA) Receives $155.12 Consensus Price Target from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been given an average recommendation of “Hold” by the nineteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $155.12.

CVNA has been the topic of several research analyst reports. Evercore ISI reiterated an “in-line” rating and set a $178.00 price target on shares of Carvana in a research report on Thursday. Wedbush upgraded Carvana to a “neutral” rating and upped their target price for the stock from $120.00 to $150.00 in a report on Monday, August 19th. Robert W. Baird initiated coverage on Carvana in a research note on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price for the company. Stephens started coverage on Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Finally, TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st.

Insider Activity

In related news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the transaction, the insider now directly owns 114,124 shares in the company, valued at approximately $16,547,980. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the sale, the insider now directly owns 114,124 shares of the company’s stock, valued at $16,547,980. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $170.51, for a total value of $17,051,000.00. Following the completion of the transaction, the insider now directly owns 39,458,131 shares of the company’s stock, valued at approximately $6,728,005,916.81. The disclosure for this sale can be found here. Insiders have sold a total of 2,486,866 shares of company stock worth $357,967,534 over the last 90 days. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC bought a new stake in Carvana in the 2nd quarter worth approximately $32,000. Parallel Advisors LLC lifted its holdings 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 buying an additional 194 shares during the period. Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after buying an additional 3,300 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the second quarter valued at $51,000. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of CVNA stock opened at $169.78 on Friday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a market cap of $34.39 billion, a P/E ratio of 74.46 and a beta of 3.43. The business’s 50 day moving average price is $146.68 and its 200-day moving average price is $118.84. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $176.33.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. On average, equities research analysts anticipate that Carvana will post 0.27 earnings per share for the current year.

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.