Carvana (NYSE:CVNA) Price Target Raised to $430.00 at Evercore ISI

Carvana (NYSE:CVNA) had its price target upped by Evercore ISI from $425.00 to $430.00 in a research report report published on Tuesday,MarketScreener reports.

Several other analysts also recently weighed in on CVNA. JPMorgan Chase & Co. lifted their target price on Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a research report on Monday, December 29th. Wells Fargo & Company raised their target price on shares of Carvana from $500.00 to $525.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $460.00 price target on shares of Carvana in a research note on Thursday, October 30th. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Carvana has an average rating of “Moderate Buy” and an average target price of $473.36.

Carvana Stock Up 0.9%

CVNA stock opened at $477.90 on Tuesday. The stock has a market cap of $103.96 billion, a PE ratio of 109.11, a price-to-earnings-growth ratio of 1.14 and a beta of 3.54. The firm’s 50-day simple moving average is $426.27 and its 200 day simple moving average is $378.06. Carvana has a fifty-two week low of $148.25 and a fifty-two week high of $486.89. The company has a quick ratio of 2.55, a current ratio of 4.05 and a debt-to-equity ratio of 1.63.

Carvana (NYSE:CVNA) last posted 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). The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.Carvana’s revenue for the quarter was up 54.5% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. As a group, sell-side analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In related news, insider Ryan S. Keeton sold 32,370 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $301.68, for a total value of $9,765,381.60. Following the sale, the insider directly owned 115,456 shares in the company, valued at $34,830,766.08. The trade was a 21.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Benjamin E. Huston sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the sale, the chief operating officer owned 100,758 shares of the company’s stock, valued at $44,283,141. The trade was a 28.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 467,626 shares of company stock worth $192,090,109. 16.36% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently modified their holdings of the stock. Los Angeles Capital Management LLC increased its holdings in shares of Carvana by 1,950.7% during 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 during the period. Hudson Bay Capital Management LP lifted its stake in shares of Carvana by 158.0% in the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after buying an additional 10,090 shares during the period. Massachusetts Financial Services Co. MA grew its position in Carvana by 11.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after buying an additional 64,424 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Carvana by 14.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 193,879 shares of the company’s stock valued at $76,662,000 after acquiring an additional 24,129 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Carvana in the 2nd quarter valued at approximately $183,102,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.