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

Carvana Co. (NYSE:CVNA) has earned an average rating of “Hold” from the nineteen analysts that are currently covering the company, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $229.18.

Several equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Evercore ISI upped their target price on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Bank of America lifted their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Needham & Company LLC increased their price objective on Carvana from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Monday, December 9th.

Carvana Trading Down 11.2 %

Shares of CVNA stock opened at $177.16 on Friday. The company has a market capitalization of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32. Carvana has a 52-week low of $40.21 and a 52-week high of $268.34. The business’s fifty day moving average is $236.67 and its 200 day moving average is $180.94. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. The business’s revenue was up 31.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 EPS. On average, equities research analysts anticipate that Carvana will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total transaction of $19,070,000.00. Following the transaction, the insider now directly owns 38,458,131 shares of the company’s stock, valued at approximately $7,333,965,581.70. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This represents a 14.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,251,908 shares of company stock worth $255,943,285. 17.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of large investors have recently modified their holdings of the stock. Eagle Asset Management Inc. purchased a new stake in Carvana in the third quarter worth about $50,531,000. Driehaus Capital Management LLC raised its position in shares of Carvana by 124.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock worth $74,888,000 after acquiring an additional 323,153 shares in the last quarter. Swiss National Bank lifted its stake in shares of Carvana by 6.9% in the 3rd quarter. Swiss National Bank now owns 207,900 shares of the company’s stock valued at $36,197,000 after purchasing an additional 13,400 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Carvana by 89.2% during the third quarter. Integrated Advisors Network LLC now owns 53,004 shares of the company’s stock valued at $9,229,000 after purchasing an additional 24,996 shares in the last quarter. Finally, Colonial River Investments LLC purchased a new stake in Carvana in the third quarter worth $786,000. Institutional investors own 56.71% of the company’s stock.

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.