Analysts Set Carvana Co. (NYSE:CVNA) PT at $155.12

Shares of Carvana Co. (NYSE:CVNA) have received a consensus rating of “Hold” from the twenty research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $157.33.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company raised Carvana from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $77.00 to $175.00 in a report on Thursday, August 1st. Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and raised their price objective for the company from $166.00 to $170.00 in a report on Monday, August 19th. Piper Sandler raised their price target on shares of Carvana from $105.00 to $151.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Wedbush upgraded shares of Carvana to a “neutral” rating and lifted their price target for the stock from $120.00 to $150.00 in a report on Monday, August 19th. Finally, TD Cowen increased their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st.

Carvana Stock Down 0.1 %

CVNA stock opened at $176.69 on Friday. Carvana has a 1-year low of $25.09 and a 1-year high of $179.93. The business’s 50 day simple moving average is $149.60 and its 200 day simple moving average is $120.60. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The firm has a market capitalization of $35.79 billion, a PE ratio of 77.50 and a beta of 3.43.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The company had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. As a group, research analysts anticipate that Carvana will post 0.27 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total value of $17,464,000.00. Following the sale, the insider now owns 39,058,131 shares of the company’s stock, valued at $6,821,111,997.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.14, for a total value of $730,700.00. Following the completion of the transaction, the chief financial officer now owns 180,609 shares in the company, valued at $26,394,199.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $174.64, for a total transaction of $17,464,000.00. Following the sale, the insider now owns 39,058,131 shares in the company, valued at $6,821,111,997.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,636,866 shares of company stock worth $390,626,784. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Institutional investors and hedge funds have recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in shares of Carvana in the second quarter worth $32,000. Parallel Advisors LLC lifted its holdings in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after acquiring an additional 194 shares during the last quarter. Summit Securities Group LLC grew its position in Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares in the last quarter. Fifth Third Bancorp increased its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new stake in Carvana during the second quarter valued at about $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.