Argus Cuts Carvana (NYSE:CVNA) Price Target to $100.00

Carvana (NYSE:CVNA) had its price target decreased by Argus from $500.00 to $100.00 in a research note released on Monday,MarketScreener reports.

A number of other equities research analysts also recently commented on the company. Robert W. Baird set a $88.00 price objective on Carvana in a research report on Thursday, April 30th. Needham & Company LLC lifted their price objective on Carvana from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company lifted their price objective on Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Jefferies Financial Group lowered their price objective on Carvana from $97.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.75.

Carvana Stock Performance

Carvana stock opened at $69.83 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The stock has a fifty day moving average of $75.08 and a two-hundred day moving average of $77.09. The company has a market capitalization of $76.59 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 14.86 and a beta of 3.55. Carvana has a fifty-two week low of $54.46 and a fifty-two week high of $97.38.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $1.37. The company had revenue of $6.43 billion during the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. On average, analysts anticipate that Carvana will post 1.32 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, Director J Danforth Quayle sold 14,500 shares of Carvana stock in a transaction on Monday, March 9th. The stock was sold at an average price of $61.99, for a total value of $898,913.00. Following the transaction, the director owned 209,565 shares in the company, valued at approximately $12,991,772.61. This trade represents a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction on Friday, May 1st. The shares were sold at an average price of $77.44, for a total value of $4,936,672.50. Following the completion of the transaction, the chief financial officer owned 1,050,635 shares in the company, valued at $81,359,073.13. The trade was a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 281,205 shares of company stock valued at $19,495,895 in the last ninety days. Company insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Ascentis Independent Advisors acquired a new position in shares of Carvana during the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Carvana during the fourth quarter worth about $29,000. Farmers & Merchants Investments Inc. acquired a new position in shares of Carvana during the fourth quarter worth about $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.