Evercore ISI Boosts Carvana (NYSE:CVNA) Price Target to $190.00

Carvana (NYSE:CVNA) had its price objective hoisted by Evercore ISI from $186.00 to $190.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price suggests a potential downside of 23.17% from the company’s previous close.

Several other research analysts have also issued reports on CVNA. TD Cowen increased their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. raised their price objective on Carvana from $185.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Wells Fargo & Company upped their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 price target for the company. Finally, Morgan Stanley upped their price objective on shares of Carvana from $75.00 to $110.00 and gave the stock an “underweight” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $208.88.

Carvana Stock Up 19.3 %

Shares of NYSE:CVNA opened at $247.31 on Wednesday. The stock’s 50-day moving average is $172.95 and its 200 day moving average is $136.66. The company has a market cap of $50.10 billion, a PE ratio of 108.47 and a beta of 3.44. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana has a 1 year low of $25.09 and a 1 year high of $259.39.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period last year, the firm posted $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% on a year-over-year basis. Sell-side analysts anticipate that Carvana will post 0.29 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the transaction, the insider now directly owns 37,442,317 shares of the company’s stock, valued at $7,531,896,487.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Carvana news, insider Daniel J. Gill sold 41,163 shares of Carvana stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $200.11, for a total value of $8,237,127.93. Following the completion of the sale, the insider now owns 283,287 shares of the company’s stock, valued at approximately $56,688,561.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 15,814 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the transaction, the insider now directly owns 37,442,317 shares in the company, valued at $7,531,896,487.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,705,891 shares of company stock valued at $455,601,985. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Hedge funds have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC bought a new position in Carvana in the third quarter worth approximately $32,000. Ridgewood Investments LLC bought a new position in Carvana in the 2nd quarter worth $32,000. Summit Securities Group LLC lifted its position in Carvana by 110.0% during the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares in the last quarter. Fifth Third Bancorp grew its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana in the second quarter worth about $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.