Carvana Co. (NYSE:CVNA) Given Average Rating of “Moderate Buy” by Analysts

Shares of Carvana Co. (NYSE:CVNA) have received an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $261.53.

A number of research analysts recently commented on CVNA shares. Needham & Company LLC reissued a “buy” rating and issued a $340.00 target price on shares of Carvana in a research note on Friday, March 7th. Morgan Stanley upgraded Carvana from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $260.00 to $280.00 in a research report on Tuesday. Citigroup boosted their target price on Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Royal Bank of Canada increased their price target on shares of Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Thursday, February 20th. Finally, JMP Securities restated a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of Carvana stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now directly owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the transaction, the insider now owns 179,673 shares of the company’s stock, valued at approximately $40,431,815.19. This represents a 13.31 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,377 shares of company stock worth $44,251,096 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quent Capital LLC bought a new stake in Carvana during the 4th quarter valued at approximately $28,000. Global Retirement Partners LLC boosted its position in shares of Carvana by 109.9% during the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in Carvana in the fourth quarter worth $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the fourth quarter worth $34,000. Finally, Versant Capital Management Inc purchased a new position in Carvana during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of CVNA opened at $204.45 on Friday. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $43.58 billion, a PE ratio of 130.22 and a beta of 3.56. The stock has a 50-day moving average price of $227.77 and a 200-day moving average price of $216.41.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion during 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, equities analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

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.