Carvana’s (CVNA) “Overweight” Rating Reaffirmed at Stephens

Carvana (NYSE:CVNA)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $300.00 target price on the stock. Stephens’ price target indicates a potential upside of 47.52% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CVNA. Piper Sandler lifted their price objective on shares of Carvana from $151.00 to $225.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities restated a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Wedbush increased their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Jefferies Financial Group boosted their target price on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $229.18.

Carvana Trading Down 3.4 %

Shares of NYSE CVNA opened at $203.36 on Thursday. Carvana has a 12-month low of $40.21 and a 12-month high of $268.34. The company has a market cap of $42.22 billion, a price-to-earnings ratio of 20,356.36 and a beta of 3.32. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock’s 50 day simple moving average is $237.19 and its 200 day simple moving average is $179.84.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. The firm’s revenue was up 31.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 EPS. Equities research analysts expect that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction on Friday, October 4th. The shares were sold at an average price of $179.06, for a total value of $17,906,000.00. Following the completion of the sale, the insider now owns 38,858,131 shares of the company’s stock, valued at approximately $6,957,936,936.86. The trade was a 0.26 % decrease in their position. 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 44,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,341,908 shares of company stock worth $271,841,785 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of CVNA. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter worth $32,000. Capital Performance Advisors LLP acquired a new position in shares of Carvana during the 3rd quarter worth about $40,000. First Horizon Advisors Inc. boosted its stake in Carvana by 363.0% during 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 period. Benjamin F. Edwards & Company Inc. bought a new position in Carvana in the 2nd quarter worth approximately $51,000. Finally, BOCHK Asset Management Ltd acquired a new position in shares of Carvana during the third quarter worth approximately $104,000. 56.71% of the stock is owned by 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.