Carvana Co. (NYSE:CVNA) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $262.71.

Several brokerages have issued reports on CVNA. William Blair reaffirmed an “outperform” rating on shares of Carvana in a report on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a research note on Monday, December 16th. Royal Bank of Canada raised their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Piper Sandler upgraded Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research report on Thursday. Finally, Stephens reiterated an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd.

Carvana Stock Performance

NYSE CVNA opened at $185.41 on Friday. The business has a 50 day moving average price of $227.61 and a 200 day moving average price of $214.18. The company has a market capitalization of $39.52 billion, a P/E ratio of 118.10 and a beta of 3.56. Carvana has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. Sell-side analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at $35,033,660.22. The trade was a 20.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the sale, the insider now directly owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 in the last ninety days. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors have recently bought and sold shares of the business. Eagle Asset Management Inc. acquired a new position in shares of Carvana during the 3rd quarter valued at $50,531,000. Charles Schwab Investment Management Inc. raised its position in Carvana by 9.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after purchasing an additional 39,089 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Carvana by 135.5% during the fourth quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock worth $1,062,000 after purchasing an additional 2,994 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Carvana by 37.7% in the fourth quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock worth $97,305,000 after buying an additional 130,942 shares during the period. Finally, Oak Thistle LLC grew its stake in shares of Carvana by 115.9% in the fourth quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after buying an additional 1,738 shares in the last quarter. 56.71% of the stock is currently 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.