Analysts Set Carvana Co. (NYSE:CVNA) Price Target at $420.70

Shares of Carvana Co. (NYSE:CVNA) have received an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $422.0952.

CVNA has been the subject of a number of analyst reports. UBS Group started coverage on shares of Carvana in a research note on Monday. They set a “buy” rating and a $450.00 target price for the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Carvana in a research report on Tuesday, November 25th. Wall Street Zen downgraded Carvana from a “buy” rating to a “hold” rating in a report on Sunday, October 19th. Morgan Stanley set a $450.00 target price on Carvana in a research report on Monday, October 20th. Finally, Wedbush upgraded Carvana from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $380.00 to $400.00 in a research note on Monday, November 24th.

Insider Buying and Selling at Carvana

In other Carvana news, insider Thomas Taira sold 10,000 shares of the company’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $375.01, for a total value of $3,750,100.00. Following the completion of the transaction, the insider owned 106,507 shares in the company, valued at $39,941,190.07. This represents a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Ryan S. Keeton sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $375.04, for a total value of $3,750,400.00. Following the transaction, the insider directly owned 84,958 shares in the company, valued at approximately $31,862,648.32. The trade was a 10.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 376,452 shares of company stock worth $137,631,540. 16.36% of the stock is owned by insiders.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hilltop National Bank purchased a new position in Carvana during the 2nd quarter worth approximately $25,000. ORG Partners LLC lifted its stake in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. Washington Trust Advisors Inc. acquired a new stake in shares of Carvana in the third quarter valued at approximately $38,000. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Carvana during the third quarter worth approximately $38,000. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after acquiring an additional 96 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Up 1.9%

Shares of NYSE:CVNA opened at $382.57 on Wednesday. Carvana has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The firm’s 50 day moving average price is $344.95 and its 200 day moving average price is $344.00. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The stock has a market cap of $83.22 billion, a price-to-earnings ratio of 87.34, a price-to-earnings-growth ratio of 1.36 and a beta of 3.51.

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

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.