Carvana (NYSE:CVNA) Upgraded at Citigroup

Citigroup upgraded shares of Carvana (NYSE:CVNA) from a neutral rating to a buy rating in a research report report published on Wednesday, MarketBeat reports. Citigroup currently has $277.00 target price on the stock, up from their previous target price of $195.00.

Other equities analysts also recently issued research reports about the stock. Wedbush upped their price objective on shares of Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Bank of America raised their price target on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada upgraded Carvana from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $270.00 to $280.00 in a research note on Tuesday. Stephens restated an “overweight” rating and set a $300.00 target price on shares of Carvana in a research report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $241.94.

Carvana Trading Down 1.8 %

NYSE CVNA opened at $193.40 on Wednesday. Carvana has a 52 week low of $40.21 and a 52 week high of $268.34. The firm has a 50 day moving average of $234.92 and a two-hundred day moving average of $182.79. The stock has a market capitalization of $40.16 billion, a PE ratio of 19,359.36 and a beta of 3.38. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

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 the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same period in the prior year, the company posted $0.23 earnings per share. The company’s revenue was up 31.8% compared to the same quarter last year. As a group, research analysts expect that Carvana will post 0.76 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now directly owns 191,225 shares in the company, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’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 sale, the insider now owns 38,258,131 shares in the company, valued at $7,287,026,211.57. This trade represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 951,908 shares of company stock worth $199,569,285. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the 3rd quarter worth about $32,000. ORG Wealth Partners LLC purchased a new position in Carvana during the fourth quarter worth approximately $34,000. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the 3rd quarter valued at $40,000. Versant Capital Management Inc acquired a new stake in shares of Carvana during the 4th quarter worth $42,000. Finally, First Horizon Advisors Inc. raised its position in shares of Carvana by 363.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after buying an additional 196 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.