Carvana (NYSE:CVNA) Price Target Raised to $295.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price target increased by Evercore ISI from $290.00 to $295.00 in a report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

A number of other equities analysts also recently weighed in on CVNA. Robert W. Baird boosted their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Stephens reissued an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company raised their target price on shares of Carvana from $290.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price target on Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $283.59.

Carvana Stock Up 1.2%

Carvana stock opened at $293.61 on Tuesday. The company has a current ratio of 3.81, a quick ratio of 2.70 and a debt-to-equity ratio of 2.97. Carvana has a 1-year low of $106.32 and a 1-year high of $351.43. The company has a fifty day simple moving average of $276.67 and a 200 day simple moving average of $241.43. The company has a market cap of $62.87 billion, a P/E ratio of 103.02, a price-to-earnings-growth ratio of 1.15 and a beta of 3.65.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.76. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $3.94 billion. Carvana had a return on equity of 44.86% and a net margin of 2.68%. Carvana’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 earnings per share. Research analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $325.16, for a total value of $16,258,000.00. Following the completion of the transaction, the insider now directly owns 37,342,317 shares in the company, valued at approximately $12,142,227,795.72. This trade represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the sale, the insider now directly owns 179,673 shares in the company, valued at $40,431,815.19. The trade was a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,343,166 shares of company stock worth $403,944,081 over the last quarter. Corporate insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Brooklyn Investment Group raised its stake in shares of Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Carvana by 109.9% in the fourth quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after purchasing an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth $31,000. N.E.W. Advisory Services LLC acquired a new position in Carvana during the 1st quarter worth about $33,000. Finally, Venturi Wealth Management LLC lifted its holdings in Carvana by 79.2% during the 4th quarter. Venturi Wealth Management LLC now owns 224 shares of the company’s stock worth $46,000 after buying an additional 99 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.