Jefferies Financial Group Lowers Carvana (NYSE:CVNA) Price Target to $475.00

Carvana (NYSE:CVNA) had its price target cut by stock analysts at Jefferies Financial Group from $485.00 to $475.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 28.53% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. DA Davidson cut their price objective on Carvana from $470.00 to $320.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Bank of America restated a “neutral” rating and set a $360.00 target price (down from $400.00) on shares of Carvana in a report on Monday, April 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price target on shares of Carvana in a research note on Monday, March 16th. Evercore cut their price target on shares of Carvana from $430.00 to $390.00 in a report on Thursday, February 19th. Finally, BTIG Research reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Carvana currently has an average rating of “Moderate Buy” and an average target price of $435.14.

Carvana Stock Performance

NYSE:CVNA opened at $369.56 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. Carvana has a fifty-two week low of $194.02 and a fifty-two week high of $486.89. The firm has a market cap of $80.88 billion, a PE ratio of 45.96 and a beta of 3.61. The business has a 50 day moving average price of $329.81 and a 200-day moving average price of $369.92.

Carvana’s stock is set to split on the morning of Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly minted shares will be issued to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. The firm had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company’s revenue for the quarter was up 58.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.56 earnings per share. Equities research analysts predict that Carvana will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $310.35, for a total transaction of $3,956,962.50. Following the sale, the chief financial officer directly owned 197,089 shares in the company, valued at $61,166,571.15. The trade was a 6.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J Danforth Quayle sold 2,900 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $309.97, for a total value of $898,913.00. Following the completion of the sale, the director directly owned 41,913 shares in the company, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 56,170 shares of company stock worth $20,020,204. 15.19% of the stock is owned by insiders.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the business. First Horizon Corp lifted its position in Carvana by 6.4% during the 4th quarter. First Horizon Corp now owns 418 shares of the company’s stock valued at $176,000 after acquiring an additional 25 shares during the period. SJS Investment Consulting Inc. grew its holdings in Carvana by 28.3% in the third quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock worth $51,000 after purchasing an additional 30 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in shares of Carvana by 23.1% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after purchasing an additional 31 shares in the last quarter. Finivi Inc. increased its stake in shares of Carvana by 4.6% during the fourth quarter. Finivi Inc. now owns 698 shares of the company’s stock valued at $295,000 after purchasing an additional 31 shares in the last quarter. Finally, HB Wealth Management LLC lifted its holdings in shares of Carvana by 1.0% during the fourth quarter. HB Wealth Management LLC now owns 3,190 shares of the company’s stock valued at $1,346,000 after purchasing an additional 31 shares during the last quarter. Institutional investors 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.