Evercore ISI Boosts Carvana (NYSE:CVNA) Price Target to $182.00

Carvana (NYSE:CVNA) had its target price lifted by Evercore ISI from $178.00 to $182.00 in a report released on Tuesday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

Other equities analysts have also issued research reports about the stock. Bank of America upped their target price on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $77.00 to $175.00 in a report on Thursday, August 1st. Citigroup lifted their target price on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Robert W. Baird began coverage on Carvana in a research note on Thursday, August 1st. They set a “neutral” rating and a $160.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $182.29.

Carvana Trading Up 1.4 %

Shares of CVNA stock opened at $200.19 on Tuesday. The stock has a fifty day simple moving average of $167.04 and a two-hundred day simple moving average of $132.01. Carvana has a 52-week low of $25.09 and a 52-week high of $203.24. The firm has a market capitalization of $40.55 billion, a PE ratio of 87.80 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11.

Carvana (NYSE:CVNA) last issued its 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 for the quarter, compared to the consensus estimate of $3.23 billion. On average, analysts predict that Carvana will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the transaction, the insider now owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $133.41, for a total value of $10,005,750.00. Following the completion of the sale, the insider now directly owns 1,565,814 shares of the company’s stock, valued at $208,895,245.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the transaction, the insider now owns 690,814 shares in the company, valued at $102,710,225.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,840,077 shares of company stock valued at $466,398,541 in the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of CVNA. Sugarloaf Wealth Management LLC bought a new stake in Carvana during the 3rd quarter valued at $32,000. Ridgewood Investments LLC bought a new stake in shares of Carvana in the second quarter valued at about $32,000. Summit Securities Group LLC lifted its stake in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the period. Fifth Third Bancorp grew its holdings in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Carvana during the 2nd quarter worth about $51,000. Hedge funds and other institutional investors 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.