JMP Securities Reiterates Market Outperform Rating for Carvana (NYSE:CVNA)

Carvana (NYSE:CVNA)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a note issued to investors on Monday,Benzinga reports. They currently have a $320.00 price target on the stock. JMP Securities’ price target points to a potential upside of 26.06% from the stock’s current price.

CVNA has been the topic of a number of other research reports. Robert W. Baird boosted their price objective on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price objective on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their target price on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Citigroup raised their price target on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Carvana has an average rating of “Hold” and a consensus target price of $222.71.

Carvana Stock Down 0.8 %

CVNA opened at $253.84 on Monday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. Carvana has a 12 month low of $40.21 and a 12 month high of $268.34. The stock has a market capitalization of $52.70 billion, a P/E ratio of 25,384.00 and a beta of 3.32. The business has a 50 day simple moving average of $231.41 and a 200-day simple moving average of $171.52.

Carvana (NYSE:CVNA) last released 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 business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the business posted $0.23 EPS. On average, equities analysts anticipate that Carvana will post 0.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.46, for a total value of $16,846,000.00. Following the sale, the insider now directly owns 39,858,131 shares of the company’s stock, valued at approximately $6,714,500,748.26. This trade represents a 0.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 208,495 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the transaction, the chief financial officer now directly owns 90,732 shares of the company’s stock, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,971,908 shares of company stock valued at $379,874,785 in the last quarter. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CVNA. Lord Abbett & CO. LLC increased its stake in Carvana by 1,454.1% during the third quarter. Lord Abbett & CO. LLC now owns 538,473 shares of the company’s stock worth $93,754,000 after acquiring an additional 503,824 shares during the last quarter. Optimist Retirement Group LLC purchased a new stake in shares of Carvana during the 3rd quarter worth about $289,000. Wilmington Savings Fund Society FSB acquired a new stake in Carvana during the 3rd quarter worth approximately $241,000. World Investment Advisors LLC purchased a new position in Carvana in the third quarter valued at approximately $2,009,000. Finally, Sanctuary Advisors LLC acquired a new position in Carvana during the third quarter valued at approximately $312,000. 56.71% of the stock is owned by hedge funds and other 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.