Wall Street Zen Upgrades Carvana (NYSE:CVNA) to Buy

Carvana (NYSE:CVNA) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

CVNA has been the subject of several other reports. Royal Bank Of Canada boosted their price target on Carvana from $400.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Wednesday, July 23rd. Piper Sandler boosted their price target on Carvana from $340.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. Finally, Oppenheimer upgraded Carvana from a “market perform” rating to an “outperform” rating and set a $450.00 price target for the company in a research report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $407.44.

Carvana Trading Down 8.2%

Shares of CVNA stock opened at $330.58 on Friday. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58. The company has a market cap of $71.14 billion, a price-to-earnings ratio of 82.85, a PEG ratio of 1.07 and a beta of 3.55. The stock has a 50 day simple moving average of $365.17 and a 200-day simple moving average of $316.10. Carvana has a 1-year low of $148.25 and a 1-year high of $413.33.

Carvana (NYSE:CVNA) last announced its earnings results 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 return on equity of 40.57% and a net margin of 3.46%.The business’s quarterly revenue was up 41.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS. On average, equities research analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $389.27, for a total value of $3,892,700.00. Following the completion of the sale, the chief operating officer directly owned 103,197 shares in the company, valued at $40,171,496.19. This represents a 8.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $398.00, for a total value of $5,970,000.00. Following the completion of the sale, the insider owned 81,716 shares of the company’s stock, valued at approximately $32,522,968. The trade was a 15.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,898,292 shares of company stock worth $685,241,007 over the last quarter. Corporate insiders own 16.36% of the company’s stock.

Hedge Funds Weigh In On Carvana

Hedge funds have recently modified their holdings of the business. Hilltop National Bank purchased a new position in shares of Carvana during the 2nd quarter worth $25,000. SJS Investment Consulting Inc. grew its holdings in shares of Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after purchasing an additional 96 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Carvana during the 2nd quarter worth $38,000. LRI Investments LLC purchased a new position in shares of Carvana during the 2nd quarter worth $42,000. Finally, Brooklyn Investment Group grew its holdings in shares of Carvana by 961.5% during the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock worth $29,000 after purchasing an additional 125 shares during the period. 56.71% of the stock is currently 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.