Carvana (NYSE:CVNA) Rating Reiterated by Evercore ISI

Carvana (NYSE:CVNA)‘s stock had its “in-line” rating reiterated by stock analysts at Evercore ISI in a research note issued on Thursday, Benzinga reports. They currently have a $178.00 target price on the stock. Evercore ISI’s target price suggests a potential upside of 4.88% from the company’s current price.

Several other equities research analysts have also commented on the stock. DA Davidson increased their price objective on shares of Carvana from $110.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Robert W. Baird assumed coverage on shares of Carvana in a research report on Thursday, August 1st. They set a “neutral” rating and a $160.00 target price for the company. TD Cowen increased their target price on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. BTIG Research increased their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their target price for the company from $166.00 to $170.00 in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $155.12.

Carvana Trading Down 0.9 %

CVNA opened at $169.72 on Thursday. The company has a debt-to-equity ratio of 47.20, a current ratio of 3.11 and a quick ratio of 2.02. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $176.33. The firm has a market capitalization of $34.38 billion, a PE ratio of 74.44 and a beta of 3.43. The company’s 50-day moving average is $146.68 and its 200 day moving average is $118.27.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share 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, research analysts predict that Carvana will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total value of $17,051,000.00. Following the completion of the transaction, the insider now directly owns 39,458,131 shares in the company, valued at $6,728,005,916.81. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $170.51, for a total transaction of $17,051,000.00. Following the completion of the transaction, the insider now owns 39,458,131 shares in the company, valued at $6,728,005,916.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $124.72, for a total transaction of $9,354,000.00. Following the transaction, the insider now owns 562,500 shares of the company’s stock, valued at approximately $70,155,000. The disclosure for this sale can be found here. Insiders sold a total of 2,616,866 shares of company stock worth $374,145,934 over the last three months. 17.12% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in shares of Carvana in the 2nd quarter worth about $32,000. Parallel Advisors LLC lifted its holdings in shares of 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 lifted its holdings in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after acquiring an additional 3,300 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Carvana by 450.8% in the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Carvana in the 2nd quarter worth about $51,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.