Brokerages Set Carvana Co. (NYSE:CVNA) PT at $93.14

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average rating of “Moderate Buy” from the twenty-four research firms that are covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $93.1391.

CVNA has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price target on Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Wedbush lowered their target price on Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Citizens Jmp boosted their target price on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $107.40 target price on shares of Carvana in a research note on Thursday, April 30th. Finally, Jefferies Financial Group lowered their target price on Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, April 14th.

Carvana Stock Performance

Shares of Carvana stock opened at $70.27 on Wednesday. The business’s fifty day simple moving average is $68.99 and its 200 day simple moving average is $74.74. The firm has a market capitalization of $77.07 billion, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 11.60 and a beta of 3.55. Carvana has a 12 month low of $54.46 and a 12 month high of $97.38. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. As a group, analysts anticipate that Carvana will post 1.57 EPS for the current year.

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $79.06, for a total value of $395,320.00. Following the sale, the vice president directly owned 164,455 shares in the company, valued at $13,002,470.12. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,500 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $61.99, for a total value of $898,913.00. Following the completion of the sale, the director owned 209,565 shares in the company, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 281,205 shares of company stock valued at $19,495,895. 15.19% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. grew its position in shares of Carvana by 124.9% in the third quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock valued at $100,316,000 after purchasing an additional 147,683 shares in the last quarter. Gavilan Investment Partners LLC purchased a new position in shares of Carvana in the third quarter valued at $26,030,000. Massachusetts Financial Services Co. MA grew its position in shares of Carvana by 11.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock valued at $240,476,000 after purchasing an additional 64,424 shares in the last quarter. Strs Ohio grew its position in shares of Carvana by 89.9% in the third quarter. Strs Ohio now owns 37,756 shares of the company’s stock valued at $14,243,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of Carvana by 301.4% in the third quarter. Intech Investment Management LLC now owns 7,230 shares of the company’s stock valued at $2,727,000 after purchasing an additional 5,429 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Company Profile

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.