Carvana (NYSE:CVNA) Stock Price Expected to Rise, Citigroup Analyst Says

Carvana (NYSE:CVNA) had its price objective boosted by Citigroup from $325.00 to $415.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other brokerages have also commented on CVNA. Robert W. Baird upped their price target on Carvana from $200.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen raised shares of Carvana from a “hold” rating to a “buy” rating in a research report on Saturday. Wedbush raised shares of Carvana to a “hold” rating in a research report on Thursday, May 8th. Bank of America lifted their target price on shares of Carvana from $325.00 to $375.00 and gave the company a “buy” rating in a report on Tuesday, June 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $340.00 target price on shares of Carvana in a report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $303.59.

Carvana Price Performance

CVNA opened at $345.90 on Tuesday. The company’s 50 day simple moving average is $310.23 and its 200 day simple moving average is $250.09. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana has a 1 year low of $118.50 and a 1 year high of $364.00. The stock has a market capitalization of $74.07 billion, a PE ratio of 121.37, a P/E/G ratio of 1.39 and a beta of 3.59.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 38.3% on a year-over-year basis. As a group, sell-side analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, insider Daniel J. Gill sold 70,166 shares of the business’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $281.43, for a total value of $19,746,817.38. Following the completion of the sale, the insider owned 201,087 shares of the company’s stock, valued at approximately $56,591,914.41. The trade was a 25.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $346.99, for a total value of $34,699,000.00. Following the transaction, the insider directly owned 37,092,317 shares in the company, valued at approximately $12,870,663,075.83. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,406,961 shares of company stock worth $453,477,396 in the last ninety days. 16.36% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVNA. Yousif Capital Management LLC grew its stake in shares of Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock worth $265,000 after purchasing an additional 50 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Carvana by 5.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after purchasing an additional 60 shares in the last quarter. Commerce Bank grew its stake in shares of Carvana by 1.6% in the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after purchasing an additional 69 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Carvana by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock worth $466,000 after purchasing an additional 72 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after buying an additional 74 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

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.