Carvana Co. (NYSE:CVNA) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Carvana Co. (NYSE:CVNA) have received an average recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. One equities 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 company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $155.12.

A number of research analysts recently commented on CVNA shares. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $77.00 to $175.00 in a research report on Thursday, August 1st. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Needham & Company LLC upped their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $125.72, for a total value of $9,429,000.00. Following the completion of the sale, the insider now owns 337,500 shares in the company, valued at $42,430,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $125.72, for a total value of $9,429,000.00. Following the completion of the transaction, the insider now owns 337,500 shares in the company, valued at $42,430,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 114,124 shares in the company, valued at $16,547,980. The disclosure for this sale can be found here. Insiders have sold a total of 2,611,866 shares of company stock worth $382,591,784 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Vanguard Group Inc. boosted its position in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares in the last quarter. First Trust Advisors LP increased its holdings in Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC raised its position in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 0.9 %

NYSE:CVNA opened at $175.74 on Friday. Carvana has a 1 year low of $25.09 and a 1 year high of $178.40. The stock has a market cap of $35.60 billion, a P/E ratio of 77.08 and a beta of 3.43. 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 stock has a 50-day simple moving average of $148.52 and a 200-day simple moving average of $120.21.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, analysts anticipate that Carvana will post 0.27 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.