Carvana Co. (NYSE:CVNA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned an average rating of “Hold” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $155.12.

A number of research analysts have weighed in on the company. Wedbush raised Carvana to a “neutral” rating and increased their price target for the stock from $120.00 to $150.00 in a research note on Monday, August 19th. Wells Fargo & Company upgraded Carvana from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $77.00 to $175.00 in a report on Thursday, August 1st. Robert W. Baird initiated coverage on shares of Carvana in a report on Thursday, August 1st. They set a “neutral” rating and a $160.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $185.00 price target on shares of Carvana in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th.

Insider Activity

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the transaction, the insider now owns 690,814 shares in the company, valued at $102,710,225.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares in the company, valued at $102,710,225.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul W. Breaux sold 15,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the transaction, the insider now owns 114,124 shares in the company, valued at $16,547,980. The disclosure for this sale can be found here. Insiders have sold 2,611,866 shares of company stock worth $382,591,784 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Cambridge Investment Research Advisors Inc. increased its stake in Carvana by 525.7% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 48,272 shares of the company’s stock valued at $2,556,000 after purchasing an additional 40,557 shares during the last quarter. Commerce Bank bought a new stake in shares of Carvana during the 4th quarter valued at about $249,000. Hsbc Holdings PLC raised its stake in Carvana by 107.4% during the fourth quarter. Hsbc Holdings PLC now owns 30,580 shares of the company’s stock worth $1,612,000 after acquiring an additional 15,832 shares during the period. Parallel Advisors LLC lifted its holdings in Carvana by 39.0% in the fourth quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Finally, RV Capital AG boosted its stake in Carvana by 12.5% in the fourth quarter. RV Capital AG now owns 715,412 shares of the company’s stock valued at $37,874,000 after acquiring an additional 79,277 shares during the period. 56.71% of the stock is owned by institutional investors.

Carvana Stock Up 0.9 %

Shares of NYSE:CVNA opened at $175.74 on Friday. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. The company has a market capitalization of $35.60 billion, a P/E ratio of 77.08 and a beta of 3.43. Carvana has a 52-week low of $25.09 and a 52-week high of $178.40. The stock’s fifty day simple moving average is $148.52 and its 200-day simple moving average is $120.21.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. As a group, equities research analysts forecast that Carvana will post 0.27 earnings per share for the current fiscal year.

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.