Carvana (NYSE:CVNA) Earns In-Line Rating from Evercore ISI

Carvana (NYSE:CVNA)‘s stock had its “in-line” rating reiterated by Evercore ISI in a research note issued on Thursday, Benzinga reports. They currently have a $178.00 price target on the stock. Evercore ISI’s price objective suggests a potential upside of 4.88% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Piper Sandler lifted their price objective on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and boosted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Stephens initiated coverage on shares of Carvana in a research report on Thursday, September 12th. They set an “overweight” rating and a $190.00 target price on the stock. Finally, Robert W. Baird initiated coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $155.12.

Carvana Trading Down 0.9 %

NYSE:CVNA opened at $169.72 on Thursday. Carvana has a one year low of $25.09 and a one year high of $176.33. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a market cap of $34.38 billion, a P/E ratio of 74.44 and a beta of 3.43. The firm has a 50-day simple moving average of $146.68 and a 200-day simple moving average of $118.27.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Equities analysts anticipate that Carvana will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 15,000 shares of Carvana stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total value of $2,175,000.00. Following the completion of the sale, the insider now owns 114,124 shares in the company, valued at approximately $16,547,980. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the completion of the sale, the insider now owns 114,124 shares in the company, valued at approximately $16,547,980. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares of the company’s stock, valued at approximately $23,150,846.40. The disclosure for this sale can be found here. Insiders sold 2,616,866 shares of company stock worth $374,145,934 in the last 90 days. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently made changes to their positions in CVNA. Price T Rowe Associates Inc. MD raised its position in shares of Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after purchasing an additional 2,112,463 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after purchasing an additional 655,603 shares in the last quarter. Sylebra Capital LLC acquired a new position in shares of Carvana in the 2nd quarter valued at approximately $67,686,000. Senator Investment Group LP acquired a new position in shares of Carvana in the 2nd quarter valued at approximately $63,767,000. Finally, Driehaus Capital Management LLC raised its position in shares of Carvana by 124.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after acquiring an additional 323,153 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Company Profile

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.