Carvana (NYSE:CVNA) Downgraded by Zacks Research to “Hold”

Zacks Research downgraded shares of Carvana (NYSE:CVNA) from a strong-buy rating to a hold rating in a research report report published on Wednesday morning,Zacks.com reports.

Several other equities analysts have also issued reports on CVNA. Gordon Haskett lifted their price target on Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Argus cut their price objective on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. BTIG Research restated a “buy” rating and set a $97.00 price objective on shares of Carvana in a research note on Friday, June 5th. Barclays set a $93.00 target price on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company increased their price target on shares of Carvana from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.92.

Carvana Stock Down 0.1%

CVNA stock opened at $70.54 on Wednesday. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The firm has a market cap of $77.37 billion, a PE ratio of 42.91, a price-to-earnings-growth ratio of 11.89 and a beta of 3.46. The business has a 50 day moving average of $68.06 and a 200 day moving average of $72.43.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. On average, research analysts forecast that Carvana will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, insider Thomas Taira sold 5,597 shares of the company’s stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $67.15, for a total transaction of $375,838.55. Following the transaction, the insider owned 315,075 shares in the company, valued at approximately $21,157,286.25. This represents a 1.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the sale, the director directly owned 214,960 shares in the company, valued at approximately $15,047,200. The trade was a 6.33% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 396,962 shares of company stock worth $28,525,088 in the last quarter. Insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Horizon Corp boosted its holdings in Carvana by 6.4% in the fourth quarter. First Horizon Corp now owns 418 shares of the company’s stock worth $176,000 after purchasing an additional 25 shares during the last quarter. Finivi Inc. raised its stake in Carvana by 4.6% during the 4th quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after buying an additional 31 shares during the last quarter. HB Wealth Management LLC raised its stake in Carvana by 1.0% during the 4th quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after buying an additional 31 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of Carvana by 1.7% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock valued at $622,000 after buying an additional 31 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in shares of Carvana by 4.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 696 shares of the company’s stock valued at $294,000 after buying an additional 32 shares during the period. Institutional investors own 56.71% of the company’s stock.

About Carvana

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.