Carvana (NYSE:CVNA) Rating Reiterated by Bank of America

Bank of America reissued their buy rating on shares of Carvana (NYSE:CVNA) in a research note published on Tuesday, Marketbeat reports. They currently have a $185.00 price objective on the stock.

CVNA has been the subject of a number of other reports. Piper Sandler raised their price objective on shares of Carvana from $105.00 to $151.00 and gave the company a neutral rating in a research report on Thursday, August 1st. TD Cowen raised their price target on shares of Carvana from $110.00 to $148.00 and gave the company a hold rating in a report on Thursday, August 1st. Evercore ISI upped their price target on shares of Carvana from $142.00 to $157.00 and gave the stock an in-line rating in a report on Monday. Wedbush raised Carvana to a neutral rating and lifted their price objective for the company from $120.00 to $150.00 in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carvana has a consensus rating of Hold and a consensus price target of $153.88.

Carvana Trading Up 5.6 %

NYSE:CVNA opened at $170.72 on Tuesday. The company has a market cap of $34.58 billion, a P/E ratio of 74.88 and a beta of 3.43. Carvana has a 1 year low of $25.09 and a 1 year high of $171.67. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. The stock’s fifty day moving average price is $141.54 and its two-hundred day moving average price is $114.04.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, analysts expect that Carvana will post 0.18 EPS for the current year.

Insider Activity at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the completion of the sale, the chief financial officer now owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $148.68, for a total value of $14,868,000.00. Following the completion of the sale, the insider now owns 690,814 shares of the company’s stock, valued at approximately $102,710,225.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 55,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares of the company’s stock, valued at $23,150,846.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,521,866 shares of company stock valued at $347,083,884. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. Ridgewood Investments LLC bought a new position in shares of Carvana in the second quarter worth approximately $32,000. Parallel Advisors LLC grew its holdings in Carvana by 39.0% in 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 increased its position in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares during the period. Fifth Third Bancorp raised its stake in shares of Carvana by 450.8% during 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, Tidemark LLC purchased a new stake in shares of Carvana during the fourth quarter worth about $50,000. 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.