Carvana (NYSE:CVNA) Stock Rating Upgraded by Morgan Stanley

Carvana (NYSE:CVNA) was upgraded by research analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research report issued on Tuesday, Briefing.com reports. The firm currently has a $260.00 price objective on the stock, up from their previous price objective of $110.00. Morgan Stanley’s price objective suggests a potential upside of 15.00% from the company’s current price.

CVNA has been the topic of a number of other research reports. Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research report on Monday, October 7th. Jefferies Financial Group lifted their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Evercore ISI lifted their price objective on Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. TD Cowen increased their target price on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC upped their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research note 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, the stock has an average rating of “Hold” and a consensus price target of $217.71.

Carvana Stock Down 1.3 %

Shares of Carvana stock opened at $226.08 on Tuesday. The company has a market capitalization of $46.78 billion, a P/E ratio of 22,630.63 and a beta of 3.37. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The company has a 50 day moving average of $174.33 and a 200 day moving average of $138.72. Carvana has a 52-week low of $27.75 and a 52-week high of $259.39.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analysts’ expectations of $3.47 billion. The firm’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, research analysts forecast that Carvana will post 0.53 EPS for the current fiscal year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $131.19, for a total transaction of $9,839,250.00. Following the transaction, the insider now owns 1,090,814 shares of the company’s stock, valued at $143,103,888.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Carvana 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 transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of Carvana stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $131.19, for a total value of $9,839,250.00. Following the completion of the transaction, the insider now directly owns 1,090,814 shares in the company, valued at $143,103,888.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,663,934 shares of company stock valued at $453,200,905 over the last 90 days. Insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Forum Financial Management LP boosted its holdings in Carvana by 3.8% in the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the period. Empirical Asset Management LLC raised its stake in shares of Carvana by 2.0% in the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares in the last quarter. Bleakley Financial Group LLC increased its holdings in Carvana by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after buying an additional 130 shares during the last quarter. CWM LLC raised its stake in Carvana by 19.5% during the second quarter. CWM LLC now owns 883 shares of the company’s stock valued at $114,000 after buying an additional 144 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Carvana by 32.8% during the 3rd quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

About Carvana

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.