Carvana (NYSE:CVNA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Carvana (NYSE:CVNA) from a hold rating to a buy rating in a research note released on Saturday morning.

Several other equities research analysts also recently weighed in on the stock. Oppenheimer raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price objective for the company in a report on Friday, July 25th. Bank of America upped their price objective on shares of Carvana from $375.00 to $425.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. JMP Securities upped their price objective on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Gordon Haskett began coverage on shares of Carvana in a report on Monday, July 14th. They issued a “hold” rating and a $329.00 price objective for the company. Finally, DA Davidson boosted their price target on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $384.06.

Carvana Stock Performance

CVNA stock opened at $391.10 on Friday. The company has a market capitalization of $84.16 billion, a P/E ratio of 98.02, a PEG ratio of 1.28 and a beta of 3.51. The company has a 50-day simple moving average of $357.62 and a 200 day simple moving average of $297.91. Carvana has a fifty-two week low of $148.25 and a fifty-two week high of $413.33. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.19. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.54 billion. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The company’s quarterly revenue was up 41.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 93,376 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $394.16, for a total value of $36,805,084.16. Following the completion of the sale, the insider owned 6,624 shares of the company’s stock, valued at approximately $2,610,915.84. The trade was a 93.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $353.76, for a total value of $35,376,000.00. Following the completion of the sale, the insider directly owned 36,437,346 shares of the company’s stock, valued at approximately $12,890,075,520.96. The trade was a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,366,037 shares of company stock worth $840,850,804 in the last quarter. 16.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of large investors have recently added to or reduced their stakes in CVNA. Hilltop National Bank bought a new stake in Carvana during the second quarter worth approximately $25,000. Brooklyn Investment Group lifted its holdings 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 buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana during the first quarter worth approximately $33,000. SJS Investment Consulting Inc. lifted its holdings in shares of Carvana by 960.0% during the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after buying an additional 96 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana during the second quarter worth approximately $38,000. 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.