Carvana’s (CVNA) “Buy” Rating Reaffirmed at BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a note issued to investors on Friday,Benzinga reports. They presently have a $450.00 price target on the stock. BTIG Research’s price target suggests a potential downside of 3.35% from the stock’s previous close.

A number of other analysts have also issued reports on the stock. Wedbush upgraded shares of Carvana from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $380.00 to $400.00 in a research report on Monday, November 24th. Barclays raised their price objective on Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a report on Wednesday, December 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $460.00 target price on shares of Carvana in a research note on Thursday, October 30th. Argus started coverage on Carvana in a research note on Monday. They issued a “buy” rating and a $500.00 price target on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Carvana in a report on Monday. Nineteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $441.55.

Carvana Trading Up 4.3%

Carvana stock opened at $465.58 on Friday. The stock has a 50-day moving average price of $360.94 and a 200 day moving average price of $354.65. Carvana has a 52 week low of $148.25 and a 52 week high of $485.33. The stock has a market cap of $101.28 billion, a PE ratio of 106.30, a P/E/G ratio of 1.62 and a beta of 3.51. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a net margin of 3.44% and a return on equity of 30.62%. The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same quarter last year, the company posted $0.64 earnings per share. Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. Equities research analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity

In other Carvana news, insider Paul W. Breaux sold 1,527 shares of the company’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.00, for a total transaction of $725,325.00. Following the completion of the sale, the insider directly owned 69,289 shares in the company, valued at $32,912,275. This represents a 2.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.00, for a total value of $4,750,000.00. Following the completion of the transaction, the insider owned 69,880 shares in the company, valued at approximately $33,193,000. This trade represents a 12.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 594,332 shares of company stock valued at $240,118,193 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Large investors have recently made changes to their positions in the business. Hilltop National Bank purchased a new stake in Carvana during the 2nd quarter worth $25,000. Brooklyn Investment Group lifted its stake in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares in the last quarter. ORG Partners LLC boosted its position in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the period. SJS Investment Consulting Inc. grew its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Carvana during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds 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.