Carvana Co. (NYSE:CVNA) Receives Consensus Rating of “Hold” from Analysts

Carvana Co. (NYSE:CVNA) has received a consensus rating of “Hold” from the seventeen research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.44.

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised Carvana from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $130.00 in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Carvana in a research note on Thursday. Evercore ISI cut their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 16th. Wells Fargo & Company lifted their price target on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Robert W. Baird increased their price objective on shares of Carvana from $65.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total value of $4,771,800.00. Following the transaction, the chief financial officer now owns 178,156 shares in the company, valued at approximately $15,456,814.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Carvana news, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the transaction, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $86.76, for a total transaction of $4,771,800.00. Following the sale, the chief financial officer now owns 178,156 shares of the company’s stock, valued at approximately $15,456,814.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 442,233 shares of company stock worth $38,200,169. Insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently bought and sold shares of CVNA. Parallel Advisors LLC lifted its position in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock valued at $37,000 after buying an additional 194 shares during the last quarter. Diversified Trust Co boosted its position in Carvana by 6.0% during the fourth quarter. Diversified Trust Co now owns 5,659 shares of the company’s stock worth $300,000 after purchasing an additional 319 shares during the period. Arizona State Retirement System increased its stake in shares of Carvana by 1.5% in the third quarter. Arizona State Retirement System now owns 25,698 shares of the company’s stock worth $1,079,000 after purchasing an additional 377 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Carvana by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,687 shares of the company’s stock worth $412,000 after buying an additional 500 shares during the period. Finally, Blue Trust Inc. purchased a new position in Carvana in the 4th quarter valued at approximately $29,000. 56.71% of the stock is owned by institutional investors.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $121.67 on Tuesday. The firm has a market cap of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. Carvana has a 52 week low of $6.92 and a 52 week high of $124.20. The firm’s fifty day moving average is $81.81 and its 200-day moving average is $55.88.

Carvana (NYSE:CVNA) last released its earnings results on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter last year, the firm posted ($0.97) EPS. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. Sell-side analysts forecast that Carvana will post -3.32 EPS for the current year.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.