Brokerages Set Carvana Co. (NYSE:CVNA) Price Target at $275.65

Carvana Co. (NYSE:CVNA) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $275.65.

Several research firms have recently weighed in on CVNA. Wells Fargo & Company raised their price objective on shares of Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Robert W. Baird raised their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. JMP Securities reduced their price objective on shares of Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Evercore ISI dropped their target price on shares of Carvana from $250.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, March 11th. Finally, Morgan Stanley lifted their target price on shares of Carvana from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th.

Carvana Stock Performance

Shares of CVNA opened at $341.68 on Wednesday. The firm has a 50-day moving average price of $258.50 and a 200 day moving average price of $238.52. The firm has a market capitalization of $73.17 billion, a PE ratio of 217.63 and a beta of 3.61. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. Carvana has a 52-week low of $100.05 and a 52-week high of $351.43.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm posted $0.23 EPS. The business’s revenue for the quarter was up 38.3% on a year-over-year basis. On average, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $339.58, for a total value of $16,979,000.00. Following the sale, the insider now directly owns 37,242,317 shares in the company, valued at $12,646,746,006.86. This trade represents a 0.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ernest C. Garcia III sold 3,196 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $344.65, for a total transaction of $1,101,501.40. Following the completion of the sale, the chief executive officer now owns 780,000 shares in the company, valued at $268,827,000. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,016,196 shares of company stock worth $284,029,665. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds have recently modified their holdings of CVNA. Yousif Capital Management LLC raised its holdings in Carvana by 4.1% during the 1st quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after buying an additional 50 shares during the period. Fidelis Capital Partners LLC raised its holdings in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Carvana by 5.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after buying an additional 60 shares during the period. Bleakley Financial Group LLC raised its holdings in Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock worth $483,000 after buying an additional 65 shares during the period. Finally, Commerce Bank raised its holdings in Carvana by 1.6% during the 1st quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after buying an additional 69 shares during the period. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.