Carvana (NYSE:CVNA) Coverage Initiated at Deutsche Bank Aktiengesellschaft

Stock analysts at Deutsche Bank Aktiengesellschaft started coverage on shares of Carvana (NYSE:CVNA) in a research report issued on Friday. The brokerage set a “buy” rating and a $395.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 26.11% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Morgan Stanley set a $450.00 price target on Carvana in a research note on Monday, October 20th. Stephens reiterated an “overweight” rating and issued a $440.00 target price on shares of Carvana in a research report on Tuesday, September 23rd. JMP Securities raised their target price on shares of Carvana from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Carvana in a research note on Monday. Finally, Evercore ISI decreased their price objective on shares of Carvana from $425.00 to $395.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Sixteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $413.20.

Carvana Price Performance

NYSE CVNA opened at $313.23 on Friday. The company has a 50-day moving average price of $348.30 and a two-hundred day moving average price of $338.96. Carvana has a 52 week low of $148.25 and a 52 week high of $413.33. The stock has a market cap of $68.14 billion, a price-to-earnings ratio of 71.51, a price-to-earnings-growth ratio of 1.19 and a beta of 3.50. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same period last year, the firm posted $0.64 EPS. The business’s quarterly revenue was up 54.5% on a year-over-year basis. Analysts forecast that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $375.00, for a total transaction of $5,625,000.00. Following the completion of the sale, the insider directly owned 83,018 shares in the company, valued at approximately $31,131,750. This trade represents a 15.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ira J. Platt sold 14,000 shares of Carvana stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $379.14, for a total transaction of $5,307,960.00. Following the completion of the transaction, the director owned 7,231 shares in the company, valued at approximately $2,741,561.34. This trade represents a 65.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 386,452 shares of company stock worth $141,017,032. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC raised its holdings in shares of Carvana by 1,950.7% during the second quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after acquiring an additional 105,768 shares during the period. Berkshire Capital Holdings Inc. boosted its stake in Carvana by 632,200.0% in the 1st quarter. Berkshire Capital Holdings Inc. now owns 63,230 shares of the company’s stock worth $13,220,000 after purchasing an additional 63,220 shares during the period. Charles Schwab Investment Management Inc. grew its position in Carvana by 6.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 490,874 shares of the company’s stock worth $102,632,000 after purchasing an additional 27,912 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in shares of Carvana by 15.0% in the first quarter. Alberta Investment Management Corp now owns 19,900 shares of the company’s stock valued at $4,161,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company’s stock worth $2,620,785,000 after buying an additional 1,109,476 shares during the period. 56.71% of the stock is owned by 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.