Carvana (NYSE:CVNA) had its price target raised by Citigroup from $60.00 to $67.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an average rating on the stock.

Several other brokerages have also recently weighed in on CVNA. Robert W. Baird upped their price target on Carvana from $33.00 to $53.00 and gave the stock an outperform rating in a research note on Monday, July 9th. Wedbush reaffirmed a neutral rating and issued a $40.00 price target (up from $24.00) on shares of Carvana in a research note on Monday, August 6th. Zacks Investment Research cut Carvana from a hold rating to a sell rating in a research note on Tuesday, July 10th. BMO Capital Markets reaffirmed a hold rating and issued a $35.00 price target on shares of Carvana in a research note on Friday, July 13th. Finally, Bank of America upped their price target on Carvana from $35.00 to $45.00 and gave the stock a positive rating in a research note on Wednesday, June 27th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $46.42.

Shares of Carvana stock traded up $2.95 during midday trading on Thursday, reaching $54.06. 1,511,612 shares of the company’s stock traded hands, compared to its average volume of 954,076. The company has a quick ratio of 0.58, a current ratio of 1.47 and a debt-to-equity ratio of 0.29. The company has a market cap of $7.15 billion, a PE ratio of -44.68 and a beta of -2.22. Carvana has a 12 month low of $12.17 and a 12 month high of $56.10.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, August 8th. The company reported ($0.37) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.03). The firm had revenue of $475.29 million during the quarter, compared to analysts’ expectations of $425.16 million. Carvana had a negative return on equity of 33.44% and a negative net margin of 5.30%. Carvana’s revenue for the quarter was up 127.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.28) earnings per share. research analysts anticipate that Carvana will post -1.45 earnings per share for the current year.

In other news, major shareholder Ernest C. Garcia II sold 1,650,000 shares of the stock in a transaction on Monday, May 14th. The stock was sold at an average price of $26.26, for a total value of $43,329,000.00. Following the sale, the insider now directly owns 60,937,458 shares of the company’s stock, valued at $1,600,217,647.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 21.69% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. purchased a new stake in shares of Carvana in the first quarter worth $483,000. Chicago Capital LLC grew its stake in shares of Carvana by 13.6% in the second quarter. Chicago Capital LLC now owns 700,474 shares of the company’s stock worth $29,140,000 after acquiring an additional 84,068 shares during the last quarter. BlackRock Inc. grew its stake in shares of Carvana by 1.2% in the first quarter. BlackRock Inc. now owns 956,715 shares of the company’s stock worth $21,938,000 after acquiring an additional 11,496 shares during the last quarter. Punch Card Management L.P. purchased a new stake in shares of Carvana in the first quarter worth $1,722,000. Finally, Capital Impact Advisors LLC purchased a new stake in shares of Carvana in the second quarter worth $1,934,000. 16.34% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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