Robert W. Baird Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA) had its price objective hoisted by investment analysts at Robert W. Baird from $160.00 to $240.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 15.75% from the stock’s previous close.

CVNA has been the topic of a number of other reports. Wells Fargo & Company boosted their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wedbush boosted their price target on shares of Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and set a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. TD Cowen boosted their price target on shares of Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada upgraded shares of Carvana to a “sector perform” rating and boosted their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 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 MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $187.47.

Carvana Trading Down 0.7 %

NYSE CVNA opened at $207.34 on Thursday. 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 firm has a market cap of $42.00 billion, a PE ratio of 90.94 and a beta of 3.44. Carvana has a one year low of $25.09 and a one year high of $213.98. The firm’s fifty day moving average is $171.06 and its two-hundred day moving average is $135.88.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. Analysts expect that Carvana will post 0.29 earnings per share for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the sale, the insider now owns 328,329 shares of the company’s stock, valued at $57,457,575. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Daniel J. Gill sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the transaction, the insider now owns 328,329 shares of the company’s stock, valued at approximately $57,457,575. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel J. Gill sold 41,163 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $200.11, for a total transaction of $8,237,127.93. Following the transaction, the insider now directly owns 283,287 shares in the company, valued at $56,688,561.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,780,891 shares of company stock valued at $465,902,485 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of CVNA. Forum Financial Management LP raised its stake in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after purchasing an additional 76 shares during the period. Empirical Asset Management LLC raised its stake in Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock worth $890,000 after purchasing an additional 100 shares during the period. Bleakley Financial Group LLC raised its stake in Carvana by 6.0% during the third quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock worth $402,000 after purchasing an additional 130 shares during the period. 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 worth $114,000 after purchasing an additional 144 shares during the period. Finally, GAMMA Investing LLC raised its stake in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after purchasing an additional 150 shares during the period. 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.