Carvana (NYSE:CVNA) Price Target Cut to $335.00 by Analysts at Gordon Haskett

by · The Cerbat Gem

Carvana (NYSE:CVNAGet Free Report) had its price objective lowered by analysts at Gordon Haskett from $350.00 to $335.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a “hold” rating on the stock. Gordon Haskett’s price objective suggests a potential upside of 8.81% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Wells Fargo & Company cut their price target on shares of Carvana from $525.00 to $425.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 24th. DA Davidson dropped their target price on shares of Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday, February 19th. Argus raised shares of Carvana to a “strong-buy” rating in a report on Tuesday, March 3rd. Finally, William Blair reissued an “outperform” rating on shares of Carvana in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and a consensus target price of $437.18.

Check Out Our Latest Analysis on Carvana

Carvana Price Performance

Shares of Carvana stock opened at $307.88 on Monday. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The stock has a 50 day moving average of $339.79 and a 200 day moving average of $371.48. The firm has a market cap of $67.38 billion, a PE ratio of 38.43 and a beta of 3.61. Carvana has a 12 month low of $171.78 and a 12 month high of $486.89.

Carvana’s stock is scheduled to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the closing bell on Wednesday, May 6th.

Carvana (NYSE:CVNAGet Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion during the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm’s revenue was up 58.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.56 earnings per share. On average, research analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity at Carvana

In related news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $317.50, for a total value of $317,500.00. Following the completion of the transaction, the vice president directly owned 33,891 shares of the company’s stock, valued at $10,760,392.50. This represents a 2.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas Taira sold 953 shares of Carvana stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $325.00, for a total value of $309,725.00. Following the transaction, the insider directly owned 64,997 shares in the company, valued at approximately $21,124,025. The trade was a 1.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 53,574 shares of company stock valued at $19,259,412. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. bought a new stake in Carvana in the fourth quarter valued at about $29,000. ORG Partners LLC raised its position in Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in Carvana during the fourth quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC lifted its position in shares of Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana News Roundup

Here are the key news stories impacting Carvana this week:

Carvana Company Profile

(Get Free Report)

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.

Further Reading