Carvana (NYSE:CVNA) Price Target Raised to $270.00 at Bank of America

Carvana (NYSE:CVNA) had its price target hoisted by Bank of America from $252.00 to $270.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on CVNA. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Carvana in a report on Thursday, February 6th. Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. Robert W. Baird upped their price objective on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Stock Performance

NYSE:CVNA opened at $223.14 on Friday. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm has a market capitalization of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The company’s 50-day moving average is $234.35 and its two-hundred day moving average is $207.79. Carvana has a 1-year low of $49.38 and a 1-year high of $292.84.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 446.67%. Analysts forecast that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Mark W. Jenkins sold 20,000 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the transaction, the chief financial officer now directly owns 199,962 shares in the company, valued at $55,125,524.16. This trade represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,629 shares of company stock valued at $44,833,799. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Quent Capital LLC acquired a new stake in Carvana during the 4th quarter worth $28,000. Global Retirement Partners LLC boosted its stake in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC acquired a new stake in Carvana during the 4th quarter worth $31,000. ORG Wealth Partners LLC acquired a new stake in Carvana during the 4th quarter worth $34,000. Finally, Versant Capital Management Inc acquired a new stake in Carvana during the 4th quarter worth $42,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.