Evercore ISI Cuts Carvana (NYSE:CVNA) Price Target to $240.00

Carvana (NYSE:CVNA) had its price target lowered by Evercore ISI from $250.00 to $240.00 in a report issued on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other analysts also recently issued reports about the stock. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Robert W. Baird increased their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Bank of America increased their price objective on shares of Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Finally, Citigroup raised their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a report on Friday, February 21st. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.65.

Carvana Stock Down 7.6 %

Shares of Carvana stock opened at $165.67 on Tuesday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a 50-day moving average of $229.54 and a 200 day moving average of $213.65. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 105.52 and a beta of 3.56. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84.

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

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares in the company, 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 Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC raised its position in shares of Carvana by 109.9% during 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 during the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $31,000. ORG Wealth Partners LLC bought a new stake in shares of Carvana during the fourth quarter valued at approximately $34,000. Finally, Versant Capital Management Inc bought a new stake in shares of Carvana during the fourth quarter valued at approximately $42,000. 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.