Carvana (NYSE:CVNA) Price Target Raised to $535.00

Carvana (NYSE:CVNA) had its price target hoisted by BTIG Research from $450.00 to $535.00 in a research report sent to investors on Thursday, Marketbeat reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also issued reports on CVNA. Barclays raised their price target on shares of Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 10th. Evercore ISI boosted their target price on Carvana from $420.00 to $425.00 and gave the company an “in-line” rating in a research note on Tuesday, December 23rd. Argus assumed coverage on Carvana in a research report on Monday, December 15th. They set a “buy” rating and a $500.00 price target on the stock. Stephens reissued an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $465.64.

Carvana Trading Down 3.8%

Shares of Carvana stock opened at $443.34 on Thursday. The firm has a market cap of $96.44 billion, a PE ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. Carvana has a 1 year low of $148.25 and a 1 year high of $485.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The stock has a fifty day moving average price of $406.54 and a 200-day moving average price of $372.21.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.26). The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. Carvana’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. Equities research analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In related news, insider Thomas Taira sold 1,174 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $447.00, for a total transaction of $524,778.00. Following the completion of the transaction, the insider owned 68,252 shares of the company’s stock, valued at approximately $30,508,644. The trade was a 1.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $401.94, for a total transaction of $4,019,400.00. Following the completion of the transaction, the chief operating officer directly owned 99,871 shares of the company’s stock, valued at approximately $40,142,149.74. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 467,626 shares of company stock valued at $192,090,109. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently modified their holdings of the business. Hilltop National Bank purchased a new stake in Carvana in the second quarter valued at approximately $25,000. ORG Partners LLC increased its holdings in shares of Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the last quarter. SJS Investment Consulting Inc. raised its position in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Carvana during the 3rd quarter worth $38,000. Finally, Washington Trust Advisors Inc. purchased a new position in Carvana in the third quarter worth $38,000. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.