Carvana (NYSE:CVNA) Upgraded at Argus

Argus upgraded shares of Carvana (NYSE:CVNA) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other brokerages have also issued reports on CVNA. Evercore decreased their target price on Carvana from $430.00 to $390.00 in a research report on Thursday, February 19th. DA Davidson decreased their price objective on shares of Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. BTIG Research lowered their price objective on shares of Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Jefferies Financial Group reduced their target price on shares of Carvana from $550.00 to $485.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. Finally, Citigroup lowered their price target on shares of Carvana from $550.00 to $465.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $440.59.

Carvana Price Performance

Carvana stock opened at $331.31 on Tuesday. Carvana has a 52 week low of $148.25 and a 52 week high of $486.89. The company’s 50 day moving average price is $401.84 and its two-hundred day moving average price is $380.31. The stock has a market cap of $72.51 billion, a P/E ratio of 41.21 and a beta of 3.60. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $3.12. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.Carvana’s quarterly revenue was up 58.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.56 earnings per share. On average, equities analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $393.04, for a total value of $393,040.00. Following the sale, the vice president directly owned 37,192 shares in the company, valued at $14,617,943.68. This represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Thomas Taira sold 1,047 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $398.54, for a total transaction of $417,271.38. Following the completion of the transaction, the insider directly owned 66,625 shares of the company’s stock, valued at approximately $26,552,727.50. The trade was a 1.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 300,673 shares of company stock valued at $133,268,531. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in CVNA. Thurston Springer Miller Herd & Titak Inc. bought a new position in Carvana in the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana during the fourth quarter worth about $29,000. ORG Partners LLC increased its position in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Motiv8 Investments LLC bought a new position in shares of Carvana in the fourth quarter worth approximately $33,000. Finally, Salomon & Ludwin LLC raised its stake in Carvana by 112.5% in the fourth quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after purchasing an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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.