Carvana Co. (NYSE:CVNA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $241.94.

CVNA has been the subject of several research analyst reports. Citigroup raised Carvana from a “neutral” rating to a “buy” rating and upped their target price for the stock from $195.00 to $277.00 in a research note on Wednesday. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JMP Securities reissued a “market outperform” rating and set a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $330.00 price target on shares of Carvana in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday.

Carvana Price Performance

NYSE:CVNA opened at $197.00 on Friday. The company has a 50 day moving average price of $234.92 and a 200-day moving average price of $182.79. Carvana has a 1-year low of $40.21 and a 1-year high of $268.34. The firm has a market cap of $40.90 billion, a price-to-earnings ratio of 19,719.72 and a beta of 3.38. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. Carvana’s revenue was up 31.8% on a year-over-year basis. During the same quarter last year, the business earned $0.23 earnings per share. Equities research analysts forecast that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $224.43, for a total transaction of $46,792,532.85. Following the sale, the chief financial officer now directly owns 90,732 shares in the company, valued at $20,362,982.76. This represents a 69.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at $52,484,640. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 951,908 shares of company stock worth $199,569,285 over the last three months. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the 3rd quarter valued at about $32,000. Versant Capital Management Inc purchased a new position in Carvana in the fourth quarter worth approximately $42,000. Capital Performance Advisors LLP acquired a new position in Carvana during the 3rd quarter worth approximately $40,000. First Horizon Advisors Inc. increased its position in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Carvana in the 2nd quarter valued at $51,000. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.