Carvana Co. (NYSE:CVNA) Receives Average Rating of “Buy” from Analysts

Carvana Co. (NYSE:CVNAGet Rating) has been assigned an average rating of “Buy” from the twenty-six ratings firms that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $228.13.

A number of equities research analysts have issued reports on CVNA shares. Cowen lowered their price target on Carvana from $300.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. DA Davidson decreased their target price on Carvana from $355.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, February 28th. TheStreet downgraded Carvana from a “c-” rating to a “d+” rating in a report on Thursday, January 13th. Bank of America cut their price objective on Carvana from $277.00 to $225.00 in a research note on Thursday, April 21st. Finally, Robert W. Baird cut their price objective on Carvana from $200.00 to $125.00 in a research note on Friday, April 22nd.

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.73, for a total transaction of $148,730.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II acquired 3,362,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The shares were purchased at an average price of $80.00 per share, with a total value of $269,000,000.00. Following the completion of the acquisition, the insider now owns 3,362,500 shares of the company’s stock, valued at approximately $269,000,000. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 3,687,500 shares of company stock valued at $295,619,250 and have sold 1,026 shares valued at $153,014. 10.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CVNA. Assetmark Inc. bought a new position in Carvana during the third quarter valued at about $30,000. OLD Second National Bank of Aurora bought a new position in Carvana during the third quarter valued at about $30,000. Sandy Cove Advisors LLC bought a new position in Carvana during the fourth quarter valued at about $33,000. Lloyd Advisory Services LLC. raised its holdings in Carvana by 66.3% during the fourth quarter. Lloyd Advisory Services LLC. now owns 173 shares of the company’s stock valued at $40,000 after buying an additional 69 shares in the last quarter. Finally, HM Payson & Co. bought a new position in Carvana during the fourth quarter valued at about $45,000. Institutional investors own 97.61% of the company’s stock.

Shares of CVNA stock opened at $64.37 on Friday. The stock has a fifty day moving average price of $115.97 and a 200 day moving average price of $191.26. The stock has a market cap of $11.14 billion, a PE ratio of -15.97 and a beta of 2.30. Carvana has a 1 year low of $58.23 and a 1 year high of $376.83. The company has a debt-to-equity ratio of 6.11, a quick ratio of 0.60 and a current ratio of 1.69.

Carvana (NYSE:CVNAGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The company reported ($2.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.72) by ($1.17). The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.37 billion. Carvana had a negative return on equity of 53.77% and a negative net margin of 2.55%. The business’s revenue was up 55.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.46) earnings per share. As a group, equities research analysts predict that Carvana will post -5.62 earnings per share for the current year.

About Carvana (Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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