Carvana Co. (NYSE:CVNA) Receives $171.76 Average PT from Analysts

Carvana Co. (NYSE:CVNA) has earned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $182.29.

A number of analysts recently issued reports on CVNA shares. Morgan Stanley lifted their target price on Carvana from $75.00 to $110.00 and gave the company an “underweight” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their price objective on Carvana from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Evercore ISI raised their target price on shares of Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a research note on Tuesday. Wedbush upped their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday.

Carvana Price Performance

Shares of CVNA opened at $200.19 on Tuesday. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana has a twelve month low of $25.09 and a twelve month high of $203.24. The stock has a market capitalization of $40.55 billion, a P/E ratio of 87.80 and a beta of 3.44. The company has a 50 day moving average of $167.04 and a 200-day moving average of $132.01.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. As a group, equities research analysts forecast that Carvana will post 0.29 EPS for the current fiscal year.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $128.81, for a total value of $9,660,750.00. Following the completion of the sale, the insider now directly owns 1,715,814 shares in the company, valued at $221,014,001.34. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $128.81, for a total transaction of $9,660,750.00. Following the transaction, the insider now directly owns 1,715,814 shares of the company’s stock, valued at approximately $221,014,001.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $148.68, for a total transaction of $14,868,000.00. Following the completion of the sale, the insider now directly owns 690,814 shares of the company’s stock, valued at $102,710,225.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,840,077 shares of company stock worth $466,398,541. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in CVNA. Wellington Management Group LLP acquired a new stake in shares of Carvana during the 4th quarter worth $4,703,000. Vanguard Group Inc. increased its holdings in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the period. PNC Financial Services Group Inc. increased its holdings in Carvana by 63.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,481 shares of the company’s stock valued at $131,000 after buying an additional 965 shares during the period. Diversified Trust Co raised its position in shares of Carvana by 53.3% in the 1st quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock valued at $763,000 after buying an additional 3,019 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Carvana by 9.2% during the 1st quarter. Principal Financial Group Inc. now owns 12,702 shares of the company’s stock worth $1,117,000 after acquiring an additional 1,068 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

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.