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

Carvana Co. (NYSE:CVNA) has earned a consensus rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $446.3182.

Several analysts recently issued reports on the stock. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $500.00 price target on shares of Carvana in a research report on Monday, November 17th. Argus started coverage on Carvana in a report on Monday, December 15th. They issued a “buy” rating and a $500.00 price target for the company. Citigroup lifted their price objective on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. Finally, UBS Group started coverage on Carvana in a report on Monday, December 1st. They issued a “buy” rating and a $450.00 target price for the company.

Insider Transactions at Carvana

In related news, COO Benjamin E. Huston sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $475.00, for a total transaction of $9,500,000.00. Following the completion of the sale, the chief operating officer directly owned 100,758 shares in the company, valued at approximately $47,860,050. This trade represents a 16.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 40,000 shares of Carvana stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the transaction, the insider directly owned 191,106 shares in the company, valued at $90,821,215.44. This trade represents a 17.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 544,332 shares of company stock valued at $221,258,662 in the last three months. 17.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Viking Global Investors LP raised its holdings in shares of Carvana by 94.9% in the 3rd quarter. Viking Global Investors LP now owns 2,101,241 shares of the company’s stock valued at $792,672,000 after buying an additional 1,023,265 shares during the period. Sands Capital Management LLC increased its stake in Carvana by 1,374.3% during the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock worth $303,677,000 after purchasing an additional 840,096 shares during the period. Norges Bank acquired a new stake in shares of Carvana during the second quarter worth about $259,468,000. Invesco Ltd. lifted its position in shares of Carvana by 96.8% during the third quarter. Invesco Ltd. now owns 1,445,018 shares of the company’s stock worth $545,119,000 after purchasing an additional 710,582 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Carvana by 5.4% in the third quarter. Vanguard Group Inc. now owns 13,454,986 shares of the company’s stock valued at $5,075,759,000 after purchasing an additional 690,756 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $441.41 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. Carvana has a 1 year low of $148.25 and a 1 year high of $485.33. The firm has a market capitalization of $96.02 billion, a PE ratio of 100.78, a P/E/G ratio of 1.44 and a beta of 3.51. The business’s 50 day moving average price is $370.72 and its 200-day moving average price is $358.15.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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 firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter in the previous year, the business posted $0.64 EPS. The company’s revenue for the quarter was up 54.5% on a year-over-year basis. As a group, equities research analysts expect that Carvana will post 2.85 earnings per share for the current fiscal 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.