Evercore ISI Cuts Carvana (NYSE:CVNA) Price Target to $240.00

Carvana (NYSE:CVNA) had its target price reduced by Evercore ISI from $250.00 to $240.00 in a research report released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup upped their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company decreased their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. William Blair reaffirmed an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research note on Monday, December 16th. Finally, Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Carvana has an average rating of “Moderate Buy” and a consensus target price of $265.65.

Carvana Trading Down 7.6 %

Carvana stock opened at $165.67 on Tuesday. The stock has a market cap of $35.32 billion, a P/E ratio of 105.52 and a beta of 3.56. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84. The firm’s 50 day moving average price is $229.54 and its 200-day moving average price is $213.65.

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, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. On average, equities analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 28,422 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares of the company’s stock, valued at $63,536,023.70. This represents a 11.44 % 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, insider Paul W. Breaux sold 1,362 shares of the company’s stock in a transaction dated 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 directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,784 shares of company stock worth $18,599,844. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after acquiring an additional 5,882,656 shares during the period. Vanguard Group Inc. lifted its position in shares of Carvana by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock valued at $2,323,463,000 after buying an additional 610,234 shares during the last quarter. Lingotto Investment Management LLP lifted its position in shares of Carvana by 1.5% during the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Durable Capital Partners LP lifted its position in shares of Carvana by 6.3% during the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock valued at $440,932,000 after buying an additional 129,246 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Carvana by 4.2% during the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company’s stock valued at $381,592,000 after buying an additional 75,250 shares during the last quarter. 56.71% of the stock is 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.