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

by · The Cerbat Gem

Shares of Carvana Co. (NYSE:CVNA – Get Free Report) have received an average recommendation of “Hold” from the nineteen analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $155.12.

A number of research analysts recently commented on CVNA shares. Wells Fargo & Company raised shares of Carvana from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $77.00 to $175.00 in a research report on Thursday, August 1st. Stephens began coverage on Carvana in a report on Thursday, September 12th. They set an “overweight” rating and a $190.00 price objective on the stock. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and lifted their target price for the stock from $166.00 to $170.00 in a research report on Monday, August 19th. Needham & Company LLC upped their target price on Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, DA Davidson raised their price target on Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st.

Read Our Latest Research Report on CVNA

Insider Transactions at Carvana

In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $125.72, for a total value of $9,429,000.00. Following the completion of the sale, the insider now owns 337,500 shares in the company, valued at $42,430,500. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Friday, July 5th. The stock was sold at an average price of $125.72, for a total value of $9,429,000.00. Following the completion of the transaction, the insider now owns 337,500 shares in the company, valued at $42,430,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul W. Breaux sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $145.00, for a total transaction of $2,175,000.00. Following the sale, the insider now owns 114,124 shares in the company, valued at $16,547,980. The disclosure for this sale can be found here. Insiders have sold a total of 2,611,866 shares of company stock worth $382,591,784 over the last ninety days. 17.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently modified their holdings of CVNA. Vanguard Group Inc. boosted its position in Carvana by 2.7% during the first quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Carvana by 39.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock valued at $655,727,000 after acquiring an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP increased its holdings in Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock valued at $486,143,000 after acquiring an additional 52,833 shares in the last quarter. First Trust Advisors LP increased its holdings in Carvana by 17.1% during the 4th quarter. First Trust Advisors LP now owns 1,483,944 shares of the company’s stock valued at $78,560,000 after acquiring an additional 216,893 shares in the last quarter. Finally, Goodnow Investment Group LLC raised its position in Carvana by 1.6% during the fourth quarter. Goodnow Investment Group LLC now owns 1,464,528 shares of the company’s stock worth $77,532,000 after acquiring an additional 23,140 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Trading Up 0.9 %

NYSE:CVNA opened at $175.74 on Friday. Carvana has a 1 year low of $25.09 and a 1 year high of $178.40. The stock has a market cap of $35.60 billion, a P/E ratio of 77.08 and a beta of 3.43. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a 50-day simple moving average of $148.52 and a 200-day simple moving average of $120.21.

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

About Carvana

(Get Free Report

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.

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