Carvana Co. (NYSE:CVNA) Receives $262.71 Consensus Target Price from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have received a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $263.88.

CVNA has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of Carvana from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Evercore ISI decreased their price target on Carvana from $250.00 to $240.00 and set an “in-line” rating for the company in a research note on Tuesday, March 11th. JPMorgan Chase & Co. boosted their price objective on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 target price on shares of Carvana in a research note on Friday, March 7th.

Insiders Place Their Bets

In related news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,784 shares of company stock worth $27,524,344. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Carvana by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock valued at $7,365,000 after acquiring an additional 1,430 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Carvana by 81.5% during the 4th quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock valued at $36,859,000 after purchasing an additional 81,414 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock valued at $511,000 after purchasing an additional 348 shares during the last quarter. Siemens Fonds Invest GmbH bought a new stake in Carvana in the fourth quarter worth $839,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Carvana during the 4th quarter valued at about $36,527,000. 56.71% of the stock is owned by institutional investors and hedge funds.

Carvana Stock Performance

Shares of NYSE CVNA opened at $221.27 on Friday. Carvana has a 12-month low of $67.61 and a 12-month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $47.17 billion, a PE ratio of 140.94 and a beta of 3.56. The stock has a 50 day simple moving average of $228.48 and a 200-day simple moving average of $216.58.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. On average, equities research analysts forecast that Carvana will post 2.85 EPS for the current year.

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.