Carvana Co. (NYSE:CVNA) Receives Average Rating of “Hold” from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $222.71.

A number of equities research analysts have weighed in on the company. JMP Securities raised their price target on Carvana from $200.00 to $320.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Wedbush raised their price objective on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Evercore ISI lifted their price target on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st.

Insider Buying and Selling at Carvana

In other news, insider Ryan S. Keeton sold 24,845 shares of Carvana stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the sale, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. The trade was a 14.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,071,908 shares of company stock valued at $395,374,785 in the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Carvana during the second quarter worth about $32,000. Sugarloaf Wealth Management LLC bought a new stake in shares of Carvana in the 3rd quarter worth approximately $32,000. Summit Securities Group LLC grew 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. Capital Performance Advisors LLP bought a new position in Carvana during the 3rd quarter valued at approximately $40,000. Finally, Fifth Third Bancorp raised its stake in Carvana by 450.8% during the second 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 last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Up 0.2 %

CVNA stock opened at $248.25 on Wednesday. The company’s 50 day moving average is $228.64 and its 200 day moving average is $169.36. The stock has a market cap of $51.54 billion, a price-to-earnings ratio of 24,825.00 and a beta of 3.32. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana has a 1-year low of $40.21 and a 1-year high of $268.34.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the company earned $0.23 EPS. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts predict that Carvana will post 0.76 EPS for the current fiscal 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.