Carvana’s (CVNA) Overweight Rating Reaffirmed at Stephens

Carvana (NYSE:CVNA)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $300.00 price target on the stock. Stephens’ target price points to a potential upside of 69.34% from the company’s previous close.

CVNA has been the topic of several other research reports. Jefferies Financial Group upped their price objective on Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Bank of America increased their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wedbush raised their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research report on Monday, October 7th. Finally, Citigroup lifted their price target on Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $229.18.

Carvana Trading Down 11.2 %

NYSE CVNA opened at $177.16 on Thursday. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The company has a market capitalization of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32. The company has a fifty day moving average of $236.67 and a 200 day moving average of $180.45.

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

Insider Activity

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 completion of the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. This trade represents a 5.02 % 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 firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $180.49, for a total value of $18,049,000.00. Following the sale, the insider now directly owns 38,658,131 shares of the company’s stock, valued at $6,977,406,064.19. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,251,908 shares of company stock worth $255,943,285 over the last three months. Insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CVNA. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the third quarter worth $32,000. Versant Capital Management Inc purchased a new stake in Carvana during the fourth quarter worth about $42,000. Capital Performance Advisors LLP acquired a new stake in shares of Carvana during the third quarter worth about $40,000. First Horizon Advisors Inc. boosted its stake in shares of Carvana by 363.0% in the third 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. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Carvana in the second quarter valued at approximately $51,000. 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.