Carvana (NYSE:CVNA) Downgraded by Stifel Nicolaus

Carvana (NYSE:CVNAGet Rating) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Briefing.com reports. They currently have a $40.00 target price on the stock, down from their prior target price of $115.00. Stifel Nicolaus’ target price would suggest a potential upside of 9.05% from the stock’s previous close.

A number of other research analysts have also commented on the company. Truist Financial lowered their price target on Carvana from $230.00 to $160.00 in a research report on Thursday, April 21st. Stephens decreased their target price on Carvana from $200.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, February 28th. Cowen decreased their target price on Carvana from $300.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, April 21st. Morgan Stanley lowered Carvana from an “overweight” rating to an “equal weight” rating and set a $105.00 target price for the company. in a research report on Wednesday, May 4th. Finally, Royal Bank of Canada decreased their target price on Carvana from $138.00 to $85.00 and set a “sector perform” rating for the company in a research report on Thursday, April 21st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Buy” and a consensus target price of $208.54.

CVNA opened at $36.68 on Wednesday. The business has a 50 day simple moving average of $102.66 and a two-hundred day simple moving average of $177.23. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of -9.10 and a beta of 2.56. The company has a debt-to-equity ratio of 6.11, a current ratio of 1.69 and a quick ratio of 0.60. Carvana has a one year low of $35.08 and a one year high of $376.83.

Carvana (NYSE:CVNAGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The company reported ($2.89) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($1.17). The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.37 billion. Carvana had a negative net margin of 2.55% and a negative return on equity of 53.77%. The company’s revenue for the quarter was up 55.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.46) EPS. As a group, sell-side analysts expect that Carvana will post -6.82 EPS for the current fiscal year.

In other news, major shareholder Ernest C. Garcia II purchased 3,362,500 shares of the company’s stock in a transaction dated Tuesday, April 26th. The shares were purchased at an average cost of $80.00 per share, for a total transaction of $269,000,000.00. Following the purchase, the insider now directly owns 3,362,500 shares in the company, valued at approximately $269,000,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $148.73, for a total value of $148,730.00. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,687,500 shares of company stock worth $295,619,250. Company insiders own 17.67% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. boosted its stake in shares of Carvana by 1.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,863 shares of the company’s stock worth $863,000 after buying an additional 39 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in Carvana by 0.3% during the third quarter. United Capital Financial Advisers LLC now owns 12,153 shares of the company’s stock valued at $3,665,000 after purchasing an additional 40 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Carvana by 8.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 740 shares of the company’s stock valued at $223,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank lifted its position in Carvana by 5.1% during the third quarter. Commerce Bank now owns 1,273 shares of the company’s stock valued at $384,000 after purchasing an additional 62 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Carvana by 0.5% during the third quarter. Principal Financial Group Inc. now owns 13,188 shares of the company’s stock valued at $3,976,000 after purchasing an additional 62 shares in the last quarter.

Carvana Company Profile (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.

Recommended Stories

Analyst Recommendations for Carvana (NYSE:CVNA)

Receive News & Ratings for Carvana Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana and related companies with MarketBeat.com's FREE daily email newsletter.