Carvana (NYSE:CVNA) Price Target Raised to $185.00 at Jefferies Financial Group

Carvana (NYSE:CVNA) had its price target raised by Jefferies Financial Group from $150.00 to $185.00 in a report released on Tuesday, Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

CVNA has been the topic of several other research reports. Wedbush boosted their price target on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Needham & Company LLC lifted their price objective on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI reiterated an “in-line” rating and issued a $178.00 price objective on shares of Carvana in a research report on Thursday, September 26th. Robert W. Baird assumed coverage on Carvana in a research report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price objective for the company. Finally, Stephens assumed coverage on Carvana in a research report on Thursday, September 12th. They issued an “overweight” rating and a $190.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $177.88.

Carvana Price Performance

Shares of CVNA stock opened at $197.35 on Tuesday. The stock’s fifty day simple moving average is $163.94 and its 200 day simple moving average is $130.27. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The firm has a market cap of $39.98 billion, a price-to-earnings ratio of 86.56 and a beta of 3.44. Carvana has a one year low of $25.09 and a one year high of $198.09.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. On average, analysts expect that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares of the company’s stock, valued at $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Carvana news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $191.37, for a total value of $19,137,000.00. Following the completion of the transaction, the insider now directly owns 37,858,131 shares of the company’s stock, valued at approximately $7,244,910,529.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,759,366 shares of company stock valued at $445,990,909 over the last three months. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in Carvana in the second quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the third quarter worth about $32,000. Summit Securities Group LLC boosted its position in shares of Carvana by 110.0% during the second 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 period. Fifth Third Bancorp boosted its position in shares of Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after buying an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana during the second quarter worth about $51,000. 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.