Carvana Co. (CVNA) – What Are Investment Firms Saying About This Stock?

Shares of Carvana Co. (NYSE:CVNA) have been given a consensus rating of “Moderate Buy” by the twenty-five research firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $83.04.

CVNA has been the topic of several recent research reports. Oppenheimer set a $90.00 target price on shares of Carvana and gave the company an “outperform” rating in a report on Wednesday, September 30th. Robert W. Baird set a $72.00 target price on shares of Carvana in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price target on shares of Carvana in a research note on Friday, July 31st. Zacks Research lowered shares of Carvana from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd.

Insider Transactions at Carvana

In related news, COO Benjamin Huston sold 50,000 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction 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 represents a 9.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael E. Maroone bought 25,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average price of $61.80 per share, with a total value of $1,545,000.00. Following the completion of the acquisition, the director directly owned 168,573 shares in the company, valued at $10,417,811.40. This trade represents a 17.41% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 358,161 shares of company stock valued at $24,164,285. 15.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State Street Corp raised its position in Carvana by 417.1% during the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock valued at $1,937,436,000 after purchasing an additional 23,742,422 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Carvana by 345.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after buying an additional 2,579,295 shares during the period. Amundi grew its position in shares of Carvana by 379.7% in the 2nd quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after buying an additional 1,916,349 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Carvana by 384.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock worth $124,933,000 after buying an additional 1,506,145 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of Carvana by 372.0% in the 2nd quarter. Bank of America Corp DE now owns 1,791,844 shares of the company’s stock worth $117,939,000 after buying an additional 1,412,188 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

Shares of CVNA stock traded down $1.67 during trading hours on Friday, hitting $58.95. 8,280,909 shares of the company’s stock were exchanged, compared to its average volume of 8,775,124. The company has a market capitalization of $64.87 billion, a PE ratio of 32.60, a PEG ratio of 1.78 and a beta of 3.55. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38. The business’s 50 day simple moving average is $68.05 and its 200-day simple moving average is $68.58. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The firm had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. During the same period in the previous year, the business posted $1.51 EPS. The business’s quarterly revenue was up 52.4% on a year-over-year basis. On average, equities research analysts anticipate that Carvana will post 1.65 earnings per share for the current year.

About Carvana

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.