Carvana’s (CVNA) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Carvana (NYSE:CVNA) in a research report report published on Friday morning, Marketbeat.com reports. The firm currently has a $87.00 target price on the stock.

Other equities research analysts also recently issued reports about the stock. DA Davidson set a $67.00 price objective on shares of Carvana in a research note on Thursday, July 30th. Hovde Group boosted their target price on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. Barclays restated an “overweight” rating and issued a $80.00 target price (down from $93.00) on shares of Carvana in a research report on Tuesday, October 6th. Weiss Ratings downgraded shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 22nd. Finally, Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $83.13.

Carvana Stock Performance

CVNA opened at $63.72 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. Carvana has a 52-week low of $54.46 and a 52-week high of $97.38. The firm has a market cap of $70.12 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 1.84 and a beta of 3.55. The business’s fifty day moving average is $68.96 and its 200-day moving average is $68.62.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Carvana had a return on equity of 37.06% and a net margin of 6.26%. The business had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm earned $1.51 earnings per share. Carvana’s revenue for the quarter was up 52.4% compared to the same quarter last year. Sell-side analysts expect that Carvana will post 1.67 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the completion of the sale, the chief financial officer directly owned 1,156,534 shares in the company, valued at $74,596,443. This represents a 5.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin Huston sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the sale, the chief operating officer directly owned 478,693 shares in the company, valued at $34,250,484.15. This trade represents a 9.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 352,564 shares of company stock worth $23,800,480 in the last three months. Insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sands Capital Management LLC grew its stake in shares of Carvana by 44.4% during the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after buying an additional 751,019 shares during the last quarter. Capricorn Fund Managers Ltd acquired a new position in shares of Carvana during the first quarter worth $29,866,000. Saudi Central Bank increased its holdings in shares of Carvana by 806.1% during the second quarter. Saudi Central Bank now owns 45,043 shares of the company’s stock worth $2,965,000 after buying an additional 40,072 shares in the last quarter. Gavilan Investment Partners LLC lifted its stake in shares of Carvana by 24.6% in the 4th quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock valued at $36,294,000 after acquiring an additional 17,000 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Carvana in the 2nd quarter valued at $23,046,000. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.