Carvana Co. (NYSE:CVNA) Receives Average Recommendation of “Reduce” from Analysts

Shares of Carvana Co. (NYSE:CVNA) have earned an average rating of “Reduce” from the twenty-one ratings firms that are presently covering the company, Marketbeat.com reports. Six investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $39.33.

A number of research firms have recently issued reports on CVNA. Piper Sandler lowered shares of Carvana from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $29.00 to $48.00 in a research report on Thursday, July 20th. Stephens lifted their price target on shares of Carvana to $42.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 25th. Wedbush lifted their price target on shares of Carvana to $40.00 and gave the company an “underperform” rating in a research report on Thursday, July 20th. Morgan Stanley raised their price objective on shares of Carvana from $35.00 to $37.00 and gave the stock an “underweight” rating in a research note on Friday, August 11th. Finally, Wells Fargo & Company lifted their price target on shares of Carvana from $15.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 20th.

Insider Buying and Selling at Carvana

In other Carvana news, insider Paul W. Breaux sold 20,000 shares of Carvana stock in a transaction on Monday, September 11th. The stock was sold at an average price of $49.00, for a total value of $980,000.00. Following the completion of the sale, the insider now owns 165,174 shares of the company’s stock, valued at approximately $8,093,526. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.12% of the stock is owned by company insiders.

Hedge Funds Weigh In On Carvana

Large investors have recently made changes to their positions in the business. Ieq Capital LLC grew its stake in shares of Carvana by 1.6% during the second quarter. Ieq Capital LLC now owns 14,236 shares of the company’s stock valued at $369,000 after buying an additional 229 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Carvana by 17.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock valued at $230,000 after purchasing an additional 280 shares during the last quarter. Mackenzie Financial Corp raised its stake in Carvana by 21.4% in the 1st quarter. Mackenzie Financial Corp now owns 2,428 shares of the company’s stock worth $290,000 after acquiring an additional 428 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in Carvana during the 1st quarter worth about $59,000. Finally, Hexagon Capital Partners LLC grew its position in shares of Carvana by 393.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 1,036 shares of the company’s stock valued at $27,000 after acquiring an additional 826 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Trading Down 6.6 %

Carvana stock opened at $52.20 on Monday. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of -4.23 and a beta of 3.09. Carvana has a 52 week low of $3.55 and a 52 week high of $57.19. The company’s 50-day moving average price is $44.47 and its two-hundred day moving average price is $24.23.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 19th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.20) by $0.65. Carvana had a negative net margin of 11.08% and a negative return on equity of 1,491.81%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.62 billion. Research analysts expect that Carvana will post -3.74 earnings per share for the current fiscal year.

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.