Carvana (NYSE:CVNA) Price Target Raised to $245.00

Carvana (NYSE:CVNA) had its target price boosted by Evercore ISI from $240.00 to $245.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the stock.

Several other equities research analysts also recently commented on CVNA. Robert W. Baird increased their price objective on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price objective on Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Bank of America increased their price objective on Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Citigroup increased their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Carvana has a consensus rating of “Hold” and a consensus target price of $220.94.

Carvana Trading Down 1.7 %

NYSE:CVNA opened at $255.73 on Tuesday. Carvana has a twelve month low of $36.53 and a twelve month high of $268.34. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The business has a 50 day moving average price of $218.45 and a two-hundred day moving average price of $162.25. The company has a market cap of $53.10 billion, a P/E ratio of 26,033.03 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The company’s revenue was up 31.8% compared to the same quarter last year. During the same period last year, the company earned $0.23 EPS. As a group, analysts expect that Carvana will post 0.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 208,495 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of $224.43, for a total value of $46,792,532.85. Following the transaction, the chief financial officer now owns 90,732 shares in the company, valued at approximately $20,362,982.76. This trade represents a 69.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total value of $15,500,000.00. Following the completion of the transaction, the insider now owns 40,058,131 shares in the company, valued at $6,209,010,305. The trade was a 0.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,097,063 shares of company stock worth $393,287,959 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Optimist Retirement Group LLC bought a new position in shares of Carvana in the third quarter worth $289,000. Wilmington Savings Fund Society FSB bought a new position in Carvana in the third quarter valued at about $241,000. World Investment Advisors LLC bought a new position in Carvana in the third quarter valued at about $2,009,000. Sanctuary Advisors LLC bought a new position in Carvana in the third quarter valued at about $312,000. Finally, Geode Capital Management LLC grew its position in Carvana by 7.8% in the third quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after acquiring an additional 131,059 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

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.