Evercore ISI Increases Carvana (NYSE:CVNA) Price Target to $182.00

Carvana (NYSE:CVNA) had its target price lifted by equities research analysts at Evercore ISI from $178.00 to $182.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price points to a potential downside of 7.79% from the company’s previous close.

A number of other research firms also recently weighed in on CVNA. Robert W. Baird began coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. Citigroup raised their price objective on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Carvana from $185.00 to $230.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and raised their price target for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Finally, Bank of America increased their target price on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $182.29.

Carvana Trading Up 0.0 %

Shares of CVNA opened at $197.37 on Tuesday. Carvana has a 1 year low of $25.09 and a 1 year high of $200.50. The company has a 50 day simple moving average of $164.96 and a two-hundred day simple moving average of $131.07. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The firm has a market cap of $39.98 billion, a P/E ratio of 86.75 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. On average, equities analysts expect that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now directly owns 180,609 shares of the company’s stock, valued at $26,394,199.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $130.52, for a total transaction of $9,789,000.00. Following the transaction, the insider now owns 1,790,814 shares of the company’s stock, valued at approximately $233,737,043.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now owns 180,609 shares of the company’s stock, valued at approximately $26,394,199.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,859,366 shares of company stock valued at $465,069,909 over the last quarter. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Institutional investors have recently bought and sold shares of the business. Empirical Asset Management LLC boosted its position in Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after acquiring an additional 100 shares in the last quarter. Bleakley Financial Group LLC boosted its position in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after purchasing an additional 130 shares in the last quarter. CWM LLC grew its stake in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after purchasing an additional 144 shares during the last quarter. GAMMA Investing LLC grew its stake in Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock valued at $106,000 after purchasing an additional 150 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in shares of Carvana by 2.9% during the third quarter. Sequoia Financial Advisors LLC now owns 6,122 shares of the company’s stock valued at $1,066,000 after buying an additional 175 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.