Carvana (NYSE:CVNA) Price Target Lowered to $435.00 at Gordon Haskett

Carvana (NYSE:CVNA) had its price target trimmed by Gordon Haskett from $445.00 to $435.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage currently has a hold rating on the stock.

CVNA has been the topic of several other reports. Argus initiated coverage on shares of Carvana in a research report on Monday, December 15th. They issued a “buy” rating and a $500.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Carvana in a report on Monday, December 29th. UBS Group initiated coverage on shares of Carvana in a research report on Monday, December 1st. They set a “buy” rating and a $450.00 price objective for the company. Citigroup upped their target price on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Finally, Jefferies Financial Group lifted their price target on Carvana from $475.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $451.14.

Carvana Price Performance

Shares of NYSE CVNA opened at $430.43 on Monday. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average price is $382.17 and its two-hundred day moving average price is $364.18. The company has a market cap of $93.64 billion, a PE ratio of 98.27, a price-to-earnings-growth ratio of 0.95 and a beta of 3.54. Carvana has a twelve month low of $148.25 and a twelve month high of $485.33.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 29th. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.04 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The business’s revenue was up 54.5% compared to the same quarter last year. On average, analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Activity

In related news, insider Thomas Taira sold 30,952 shares of the firm’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $435.96, for a total value of $13,493,833.92. Following the transaction, the insider owned 69,880 shares in the company, valued at approximately $30,464,884.80. This trade represents a 30.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan S. Keeton sold 32,370 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $301.68, for a total transaction of $9,765,381.60. Following the sale, the insider directly owned 115,456 shares of the company’s stock, valued at $34,830,766.08. This represents a 21.90% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 469,332 shares of company stock worth $192,588,278. 16.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC increased its holdings in Carvana by 1,950.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock worth $37,467,000 after purchasing an additional 105,768 shares in the last quarter. Hudson Bay Capital Management LP grew its holdings in shares of Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock worth $5,552,000 after purchasing an additional 10,090 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Carvana by 14.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock valued at $76,662,000 after buying an additional 24,129 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Carvana in the 2nd quarter valued at approximately $183,102,000. Finally, Sheets Smith Wealth Management acquired a new stake in Carvana during the 2nd quarter worth approximately $557,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.