Carvana (CVNA) Lifted to “Hold” at ValuEngine
Carvana (NYSE:CVNA) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Friday.
A number of other brokerages also recently issued reports on CVNA. Zacks Investment Research upgraded Carvana from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Monday, October 16th. Barrington Research started coverage on Carvana in a report on Friday, October 27th. They set a “market perform” rating on the stock. Robert W. Baird restated a “buy” rating and set a $17.00 price target on shares of Carvana in a report on Monday, November 20th. Wedbush restated a “neutral” rating and set a $14.00 price target (down previously from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Finally, B. Riley restated a “sell” rating and set a $12.00 price target on shares of Carvana in a report on Monday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Carvana presently has an average rating of “Hold” and an average price target of $19.88.
Carvana (NYSE:CVNA) opened at $18.49 on Friday. Carvana has a twelve month low of $8.14 and a twelve month high of $24.89. The stock has a market capitalization of $2,450.00 and a PE ratio of -14.45. The company has a current ratio of 1.50, a quick ratio of 0.71 and a debt-to-equity ratio of 0.07.
In other Carvana news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 21.69% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in shares of Carvana during the 2nd quarter worth approximately $15,354,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Carvana during the 2nd quarter worth approximately $508,000. FMR LLC purchased a new position in shares of Carvana during the 2nd quarter worth approximately $26,992,000. Rhumbline Advisers purchased a new position in shares of Carvana during the 2nd quarter worth approximately $392,000. Finally, Abrams Bison Investments LLC bought a new stake in shares of Carvana in the 2nd quarter worth approximately $51,175,000. Hedge funds and other institutional investors own 15.18% of the company’s stock.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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