Carvana Co. (NYSE:CVNA) Given Average Rating of “Hold” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been assigned a consensus rating of “Hold” from the nineteen brokerages that are covering the stock, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $217.71.

Several brokerages have recently issued reports on CVNA. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their price target on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Bank of America increased their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, DA Davidson increased their price target on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $154.95, for a total value of $15,495,000.00. Following the transaction, the insider now directly owns 490,814 shares in the company, valued at $76,051,629.30. This represents a 16.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $135.73, for a total value of $10,179,750.00. Following the completion of the sale, the insider now directly owns 40,583,131 shares of the company’s stock, valued at $5,508,348,370.63. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,627,249 shares of company stock worth $468,516,322 over the last three months. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the company. Driehaus Capital Management LLC boosted its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after acquiring an additional 323,153 shares during the period. Integrated Advisors Network LLC boosted its holdings in shares of Carvana by 89.2% in the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after acquiring an additional 24,996 shares during the period. Colonial River Investments LLC acquired a new stake in shares of Carvana in the third quarter valued at approximately $786,000. Highland Capital Management LLC acquired a new stake in shares of Carvana during the third quarter worth $1,314,000. Finally, Legacy Capital Group California Inc. acquired a new stake in shares of Carvana during the third quarter worth $1,248,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Trading Up 0.2 %

NYSE CVNA opened at $241.03 on Friday. The firm’s 50-day moving average is $192.70 and its two-hundred day moving average is $149.25. Carvana has a 12 month low of $29.84 and a 12 month high of $259.39. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The stock has a market capitalization of $50.05 billion, a P/E ratio of 24,127.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, sell-side analysts anticipate that Carvana will post 0.62 earnings per share for the current year.

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.