Carvana’s (CVNA) “Neutral” Rating Reaffirmed at Bank of America

Carvana (NYSE:CVNA)‘s stock had its “neutral” rating reiterated by stock analysts at Bank of America in a research note issued on Monday,Benzinga reports. They currently have a $360.00 price target on the stock, down from their prior price target of $400.00. Bank of America‘s target price would suggest a potential upside of 14.65% from the stock’s current price.

CVNA has been the topic of a number of other reports. Wells Fargo & Company cut their price objective on Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Barclays reduced their price objective on shares of Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. UBS Group set a $485.00 price objective on shares of Carvana in a research report on Friday, February 20th. Needham & Company LLC reissued a “buy” rating and set a $500.00 target price on shares of Carvana in a research note on Monday, March 16th. Finally, Stephens restated an “overweight” rating and issued a $519.00 target price on shares of Carvana in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average target price of $438.77.

Carvana Stock Performance

Shares of Carvana stock opened at $313.99 on Monday. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. Carvana has a twelve month low of $148.25 and a twelve month high of $486.89. The stock has a market cap of $68.72 billion, a price-to-earnings ratio of 39.05 and a beta of 3.61. The company’s fifty day moving average is $342.93 and its 200 day moving average is $371.92.

Shares of Carvana are set to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be payable to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping the consensus estimate of $1.10 by $3.12. Carvana had a return on equity of 50.96% and a net margin of 6.92%.The firm had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same period in the previous year, the business earned $0.56 EPS. The business’s quarterly revenue was up 58.0% compared to the same quarter last year. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $317.50, for a total transaction of $317,500.00. Following the transaction, the vice president owned 33,891 shares in the company, valued at $10,760,392.50. The trade was a 2.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $310.35, for a total transaction of $3,956,962.50. Following the completion of the sale, the chief financial officer owned 197,089 shares of the company’s stock, valued at $61,166,571.15. The trade was a 6.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 53,574 shares of company stock worth $19,259,412 over the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CVNA. Hsbc Holdings PLC grew its stake in Carvana by 239.6% in the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock valued at $93,748,000 after acquiring an additional 156,430 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of Carvana by 26.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,588 shares of the company’s stock valued at $1,092,000 after acquiring an additional 534 shares in the last quarter. World Investment Advisors raised its position in shares of Carvana by 14.8% during the fourth quarter. World Investment Advisors now owns 793 shares of the company’s stock worth $335,000 after purchasing an additional 102 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in shares of Carvana in the 4th quarter worth $106,000. Finally, AG Campbell Advisory LLC acquired a new stake in Carvana in the 4th quarter valued at $319,000. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.