JPMorgan Chase & Co. Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price decreased by JPMorgan Chase & Co. from $365.00 to $325.00 in a report released on Thursday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other brokerages have also recently issued reports on CVNA. Citigroup upped their price objective on Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Stephens restated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada raised their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $261.53.

Carvana Stock Performance

Carvana stock opened at $204.45 on Thursday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a 50 day moving average of $227.77 and a 200-day moving average of $216.41. The stock has a market cap of $43.58 billion, a P/E ratio of 130.22 and a beta of 3.56. Carvana has a 52 week low of $67.61 and a 52 week high of $292.84.

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

Insider Activity at Carvana

In other news, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the sale, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,377 shares of company stock worth $44,251,096 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Quent Capital LLC bought a new stake in shares of Carvana in the 4th quarter worth approximately $28,000. Global Retirement Partners LLC increased its holdings in shares of Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Carvana during the 4th quarter valued at $31,000. ORG Wealth Partners LLC bought a new stake in shares of Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc bought a new stake in shares of Carvana during the 4th quarter worth $42,000. 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.