Brokerages Set Carvana Co. (NYSE:CVNA) Price Target at $458.18

Shares of Carvana Co. (NYSE:CVNA) have received a consensus recommendation of “Moderate Buy” from the twenty-five brokerages that are covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $465.6364.

A number of brokerages have recently issued reports on CVNA. Zacks Research downgraded shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a research note on Monday, December 29th. Morgan Stanley restated an “overweight” rating on shares of Carvana in a research report on Thursday, January 8th. JPMorgan Chase & Co. upped their price target on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Finally, DA Davidson set a $360.00 price objective on Carvana in a research report on Thursday, October 30th.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 40,000 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total value of $17,580,000.00. Following the sale, the chief operating officer owned 100,758 shares in the company, valued at approximately $44,283,141. The trade was a 28.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ryan S. Keeton sold 32,370 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total value of $9,765,381.60. Following the transaction, the insider directly owned 115,456 shares in the company, valued at approximately $34,830,766.08. The trade was a 21.90% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 467,626 shares of company stock worth $192,090,109. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

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

Carvana Stock Down 3.8%

NYSE CVNA opened at $443.34 on Thursday. The business’s fifty day simple moving average is $406.54 and its 200-day simple moving average is $372.21. 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 firm has a market cap of $96.44 billion, a PE ratio of 101.22, a P/E/G ratio of 1.06 and a beta of 3.54. Carvana has a 52 week low of $148.25 and a 52 week high of $485.33.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share (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 in the previous year, the business posted $0.64 earnings per share. Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

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.