Carvana (NYSE:CVNA) Now Covered by Gordon Haskett

Gordon Haskett initiated coverage on shares of Carvana (NYSE:CVNA) in a research note published on Monday, Marketbeat.com reports. The brokerage issued a hold rating and a $329.00 target price on the stock.

Several other analysts have also recently commented on CVNA. Stephens lifted their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. Royal Bank Of Canada upped their target price on shares of Carvana from $320.00 to $340.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a research report on Saturday, July 5th. Finally, Robert W. Baird upped their target price on shares of Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $305.00.

Carvana Stock Performance

Shares of NYSE CVNA opened at $347.85 on Monday. The company has a debt-to-equity ratio of 2.97, a current ratio of 3.81 and a quick ratio of 2.70. The firm has a fifty day moving average price of $315.96 and a 200-day moving average price of $252.86. Carvana has a 1 year low of $118.50 and a 1 year high of $364.00. The stock has a market cap of $74.49 billion, a PE ratio of 122.05, a price-to-earnings-growth ratio of 1.34 and a beta of 3.59.

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

Insider Activity at Carvana

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of Carvana stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $347.28, for a total transaction of $3,472,800.00. Following the transaction, the chief executive officer directly owned 661,440 shares in the company, valued at approximately $229,704,883.20. The trade was a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Daniel J. Gill sold 7,100 shares of Carvana stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $350.00, for a total value of $2,485,000.00. Following the completion of the sale, the insider directly owned 197,832 shares in the company, valued at $69,241,200. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,636,961 shares of company stock valued at $534,537,442 in the last three months. Corporate insiders own 16.36% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently modified their holdings of the stock. Yousif Capital Management LLC boosted its stake in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock valued at $265,000 after buying an additional 50 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock valued at $256,000 after purchasing an additional 60 shares during the period. Commerce Bank increased its holdings in Carvana by 1.6% in the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock valued at $930,000 after purchasing an additional 69 shares during the period. PNC Financial Services Group Inc. increased its holdings in Carvana by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after purchasing an additional 72 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 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.