Carvana Co. (NYSE:CVNA) Receives $262.71 Average Price Target from Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $262.71.

Several equities research analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. JPMorgan Chase & Co. boosted their price target on Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, February 20th. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective for the company in a report on Thursday. Finally, Wedbush set a $250.00 target price on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th.

Insider Activity

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. This represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,784 shares of company stock valued at $27,524,344 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several institutional investors and hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. bought a new stake in Carvana during the third quarter valued at about $50,531,000. Charles Schwab Investment Management Inc. grew its position in shares of Carvana by 9.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock worth $94,148,000 after purchasing an additional 39,089 shares in the last quarter. Plato Investment Management Ltd raised its stake in Carvana by 135.5% during the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,994 shares during the period. Bank of New York Mellon Corp raised its stake in Carvana by 37.7% during the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after purchasing an additional 130,942 shares during the period. Finally, Oak Thistle LLC lifted its holdings in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock worth $658,000 after purchasing an additional 1,738 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

Carvana Trading Up 3.2 %

Carvana stock opened at $191.38 on Friday. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The business’s fifty day simple moving average is $227.57 and its two-hundred day simple moving average is $215.45. The company has a market capitalization of $40.80 billion, a price-to-earnings ratio of 121.90 and a beta of 3.56.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, equities analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Carvana Company Profile

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.