Carvana (NYSE:CVNA) Upgraded to Overweight at Piper Sandler

Carvana (NYSE:CVNA) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a $225.00 price target on the stock. Piper Sandler’s target price would suggest a potential upside of 27.60% from the stock’s previous close.

CVNA has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Evercore ISI decreased their price objective on shares of 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. raised their target price on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Robert W. Baird raised their target price on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 target price on shares of Carvana in a research report on Friday, March 7th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.71.

Carvana Stock Up 5.9 %

Shares of NYSE CVNA opened at $176.34 on Thursday. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The company has a market cap of $37.59 billion, a P/E ratio of 112.32 and a beta of 3.56. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84. The firm has a 50-day simple moving average of $227.84 and a two-hundred day simple moving average of $214.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data 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. The business had revenue of $3.55 billion during 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%. Research analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’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 value of $2,501,200.00. Following the completion of the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $55,016,895.44. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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. This trade represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 119,784 shares of company stock valued at $27,524,344 over the last ninety days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Carvana by 81.5% during the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock worth $36,859,000 after buying an additional 81,414 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Carvana by 16.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock worth $511,000 after buying an additional 348 shares during the period. Siemens Fonds Invest GmbH acquired a new stake in shares of Carvana during the fourth quarter worth $839,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Carvana during the fourth quarter worth $36,527,000. Finally, Brucke Financial Inc. acquired a new stake in shares of Carvana during the fourth quarter worth $415,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.