Analysts Set Carvana Co. (NYSE:CVNA) Target Price at $229.18

Carvana Co. (NYSE:CVNA) has received a consensus recommendation of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat reports. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $237.12.

CVNA has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company decreased their target price on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday. Wedbush increased their price target on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a report on Monday, October 7th. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada raised Carvana from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $270.00 to $280.00 in a research note on Tuesday.

Carvana Trading Up 5.2 %

Shares of CVNA stock opened at $198.67 on Friday. 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 has a market capitalization of $41.25 billion, a price-to-earnings ratio of 19,886.89 and a beta of 3.38. Carvana has a 12-month low of $40.21 and a 12-month high of $268.34. The stock’s 50-day moving average price is $236.14 and its 200-day moving average price is $182.59.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. The business’s revenue was up 31.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 EPS. Equities research analysts predict that Carvana will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now directly owns 189,097 shares in the company, valued at $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $190.47, for a total value of $19,047,000.00. Following the completion of the sale, the insider now owns 38,258,131 shares of the company’s stock, valued at $7,287,026,211.57. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,051,908 shares of company stock valued at $218,824,285 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Forum Financial Management LP boosted its stake in shares of Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares in the last quarter. Empirical Asset Management LLC lifted its holdings in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after buying an additional 100 shares during the period. CIBC Asset Management Inc boosted its position in Carvana by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,366 shares of the company’s stock valued at $586,000 after acquiring an additional 115 shares in the last quarter. MML Investors Services LLC increased its holdings in shares of Carvana by 3.0% in the 3rd quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock valued at $726,000 after acquiring an additional 122 shares during the period. Finally, Bleakley Financial Group LLC increased its holdings in shares of Carvana by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after acquiring an additional 130 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.