Citigroup Boosts Carvana (NYSE:CVNA) Price Target to $195.00

Carvana (NYSE:CVNA) had its price target hoisted by equities researchers at Citigroup from $125.00 to $195.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s target price would suggest a potential upside of 10.53% from the stock’s previous close.

A number of other equities analysts have also weighed in on CVNA. Bank of America reissued a “buy” rating and issued a $185.00 target price on shares of Carvana in a research report on Tuesday, September 17th. Evercore ISI reaffirmed an “in-line” rating and set a $178.00 price target on shares of Carvana in a research report on Thursday, September 26th. Needham & Company LLC upped their price target on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BTIG Research upped their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $157.33.

Carvana Stock Down 0.3 %

Carvana stock traded down $0.52 during mid-day trading on Thursday, reaching $176.43. The stock had a trading volume of 1,174,634 shares, compared to its average volume of 4,998,356. The company has a market capitalization of $35.74 billion, a price-to-earnings ratio of 77.74 and a beta of 3.43. The company has a 50-day moving average price of $149.60 and a two-hundred day moving average price of $120.60. Carvana has a one year low of $25.09 and a one year high of $179.93. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02.

Carvana (NYSE:CVNA) last announced 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 during the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts expect that Carvana will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $171.68, for a total value of $17,168,000.00. Following the completion of the transaction, the insider now directly owns 39,258,131 shares in the company, valued at approximately $6,739,835,930.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Mark W. Jenkins sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the transaction, the chief financial officer now directly owns 180,609 shares in the company, valued at approximately $26,394,199.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $171.68, for a total value of $17,168,000.00. Following the transaction, the insider now owns 39,258,131 shares of the company’s stock, valued at $6,739,835,930.08. The disclosure for this sale can be found here. Insiders sold 2,611,866 shares of company stock worth $382,591,784 in the last three months. 17.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Carvana during the 2nd quarter valued at approximately $32,000. Summit Securities Group LLC raised its holdings in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after buying an additional 3,300 shares during the period. Fifth Third Bancorp raised its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after buying an additional 275 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the 2nd quarter valued at $51,000. Finally, GAMMA Investing LLC raised its holdings in Carvana by 127.9% during the 2nd quarter. GAMMA Investing LLC now owns 458 shares of the company’s stock valued at $59,000 after buying an additional 257 shares during the period. 56.71% of the stock is currently owned by institutional investors.

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.