Carvana (NYSE:CVNA) Price Target Lowered to $220.00 at Bank of America

Carvana (NYSE:CVNA) had its price objective cut by Bank of America from $270.00 to $220.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

CVNA has been the topic of a number of other research reports. Wedbush set a $250.00 price target on shares of Carvana and gave the stock a “neutral” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. increased their price target on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Stephens reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their target price on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Price Performance

Shares of NYSE CVNA opened at $181.37 on Friday. The company has a debt-to-equity ratio of 3.82, a quick ratio of 2.12 and a current ratio of 3.64. The company has a 50 day simple moving average of $228.94 and a two-hundred day simple moving average of $214.28. Carvana has a fifty-two week low of $67.61 and a fifty-two week high of $292.84. The company has a market capitalization of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total value of $2,501,200.00. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,784 shares of company stock worth $18,599,844 in the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CVNA. Siemens Fonds Invest GmbH purchased a new position in Carvana during the fourth quarter valued at approximately $839,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Carvana during the 4th quarter valued at $36,527,000. Brucke Financial Inc. bought a new position in Carvana in the 4th quarter worth $415,000. Mackenzie Financial Corp purchased a new stake in Carvana in the 4th quarter worth $1,153,000. Finally, Toronto Dominion Bank bought a new stake in Carvana during the fourth quarter valued at about $3,124,000. 56.71% of the stock is currently owned by institutional investors.

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.