Jefferies Financial Group Cuts Carvana (NYSE:CVNA) Price Target to $90.00

Carvana (NYSE:CVNA) had its price target trimmed by Jefferies Financial Group from $95.00 to $90.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

CVNA has been the topic of a number of other reports. Citizens Jmp lifted their price target on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research note on Friday, May 1st. Zacks Research raised Carvana from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 8th. BNP Paribas Exane raised their price objective on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th. Argus cut their target price on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $120.00 target price on shares of Carvana in a report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $92.92.

Carvana Trading Down 0.1%

NYSE CVNA opened at $70.54 on Tuesday. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a market cap of $77.37 billion, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 11.89 and a beta of 3.46. The business’s fifty day moving average is $68.06 and its 200 day moving average is $72.43.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. As a group, sell-side analysts expect that Carvana will post 1.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director J Danforth Quayle sold 14,525 shares of Carvana stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $70.00, for a total value of $1,016,750.00. Following the transaction, the director directly owned 214,960 shares of the company’s stock, valued at $15,047,200. The trade was a 6.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the sale, the director owned 186,470 shares in the company, valued at $12,648,260.10. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 396,962 shares of company stock valued at $28,525,088. Corporate insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors bought a new stake in shares of Carvana in the 1st quarter valued at $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Carvana during the fourth quarter worth $29,000. Farmers & Merchants Investments Inc. acquired a new position in Carvana in the fourth quarter valued at $29,000. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after buying an additional 58 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in Carvana during the fourth quarter valued at $33,000. 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.