Carvana (NYSE:CVNA) Earns Overweight Rating from Stephens

Stephens reissued their overweight rating on shares of Carvana (NYSE:CVNA) in a report released on Thursday,Benzinga reports. Stephens currently has a $300.00 price target on the stock.

Several other analysts also recently weighed in on CVNA. JPMorgan Chase & Co. lifted their price objective on Carvana from $230.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Evercore ISI boosted their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Bank of America upped their target price on Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird lifted their price target on Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Carvana presently has a consensus rating of “Hold” and an average target price of $229.18.

Carvana Stock Performance

Shares of NYSE:CVNA opened at $177.16 on Thursday. The firm’s 50 day simple moving average is $236.67 and its 200-day simple moving average is $180.94. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a one year low of $40.21 and a one year high of $268.34. The firm has a market cap of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, equities analysts predict that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. The trade was a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total value of $11,416,680.00. Following the completion of the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,251,908 shares of company stock worth $255,943,285 in the last three months. Corporate insiders own 17.18% of the company’s stock.

Institutional Trading of Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the third quarter valued at $32,000. Capital Performance Advisors LLP acquired a new position in shares of Carvana in the 3rd quarter valued at about $40,000. Versant Capital Management Inc purchased a new stake in shares of Carvana in the fourth quarter worth about $42,000. First Horizon Advisors Inc. grew its holdings in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after acquiring an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in Carvana during the second quarter valued at approximately $51,000. Institutional investors and hedge funds 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.