Jefferies Financial Group Lowers Carvana (NYSE:CVNA) to Hold

Carvana (NYSE:CVNAGet Rating) was downgraded by equities research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday, The Fly reports.

A number of other research firms have also recently commented on CVNA. Wedbush cut their price target on shares of Carvana from $120.00 to $90.00 in a research note on Tuesday, May 3rd. Raymond James assumed coverage on shares of Carvana in a report on Tuesday. They issued an “underperform” rating for the company. Needham & Company LLC lowered their price target on shares of Carvana from $173.00 to $121.00 and set a “buy” rating for the company in a report on Thursday, April 21st. Northcoast Research assumed coverage on shares of Carvana in a report on Monday, April 11th. They issued a “neutral” rating for the company. Finally, Stephens decreased their price objective on shares of Carvana from $200.00 to $167.00 and set an “equal weight” rating for the company in a report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $198.70.

CVNA stock opened at $37.40 on Friday. 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 $28.35 and a one year high of $376.83. The stock has a market cap of $6.47 billion, a PE ratio of -9.28 and a beta of 2.56. The firm has a 50 day simple moving average of $100.79 and a two-hundred day simple moving average of $176.21.

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). Carvana had a negative return on equity of 53.77% and a negative net margin of 2.55%. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.37 billion. During the same period in the prior year, the firm earned ($0.46) EPS. Carvana’s quarterly revenue was up 55.8% on a year-over-year basis. On average, research analysts expect that Carvana will post -6.68 EPS for the current fiscal year.

In other Carvana 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 value of $148,730.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II purchased 3,362,500 shares of the business’s stock in a transaction on Tuesday, April 26th. The stock was acquired at an average price of $80.00 per share, with a total value 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 disclosure for this purchase can be found here. Insiders have bought a total of 3,687,500 shares of company stock worth $295,619,250 over the last three months. Insiders own 10.70% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec lifted its holdings in shares of Carvana by 155.3% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 82,200 shares of the company’s stock valued at $24,787,000 after acquiring an additional 50,000 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in Carvana by 9.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 7,127 shares of the company’s stock worth $1,652,000 after purchasing an additional 628 shares during the last quarter. Corient Capital Partners LLC lifted its stake in Carvana by 15.1% in the third quarter. Corient Capital Partners LLC now owns 852 shares of the company’s stock worth $257,000 after purchasing an additional 112 shares during the last quarter. NN Investment Partners Holdings N.V. lifted its stake in Carvana by 11.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 20,811 shares of the company’s stock worth $4,824,000 after purchasing an additional 2,188 shares during the last quarter. Finally, RV Capital GmbH bought a new stake in Carvana in the fourth quarter worth about $30,836,000.

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.

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