Carvana (NYSE:CVNA) Upgraded at Morgan Stanley

Carvana (NYSE:CVNA) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Tuesday, MarketBeat.com reports. The firm presently has a $280.00 price objective on the stock, up from their prior price objective of $260.00. Morgan Stanley’s price target indicates a potential upside of 31.08% from the company’s current price.

Other analysts have also issued reports about the stock. Bank of America reduced their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 14th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $340.00 price target on shares of Carvana in a research report on Friday, March 7th. Robert W. Baird upped their price objective on Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Finally, DA Davidson lifted their target price on Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.88.

Carvana Stock Up 11.9 %

CVNA opened at $213.61 on Tuesday. The stock’s 50 day moving average price is $227.95 and its 200 day moving average price is $215.96. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market cap of $45.53 billion, a P/E ratio of 136.06 and a beta of 3.56. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, research analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock valued at $27,524,344 in the last three months. 17.12% of the stock is currently owned by company insiders.

Institutional Trading of Carvana

A number of institutional investors have recently bought and sold shares of CVNA. Charles Schwab Investment Management Inc. raised its stake in shares of Carvana by 9.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares in the last quarter. Plato Investment Management Ltd increased its holdings in Carvana by 135.5% in the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after buying an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp raised its position in Carvana by 37.7% during the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after acquiring an additional 130,942 shares in the last quarter. Oak Thistle LLC lifted its stake in Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after acquiring an additional 1,738 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Carvana by 33.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 382,607 shares of the company’s stock worth $77,807,000 after acquiring an additional 95,497 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

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.