Carvana Co. (NYSE:CVNA) Receives Consensus Recommendation of “Hold” from Analysts

Carvana Co. (NYSE:CVNA) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $182.29.

CVNA has been the subject of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a report on Monday, September 9th. Royal Bank of Canada upgraded Carvana to a “sector perform” rating and raised their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Wedbush upped their price target on Carvana from $150.00 to $175.00 and gave the stock a “neutral” rating in a research note on Monday, October 7th. TD Cowen increased their price target on Carvana from $110.00 to $148.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, Evercore ISI boosted their price objective on Carvana from $178.00 to $182.00 and gave the company an “in-line” rating in a report on Tuesday, October 22nd.

Carvana Stock Up 1.3 %

Shares of Carvana stock opened at $205.23 on Tuesday. The stock’s 50-day moving average is $168.96 and its 200 day moving average is $134.44. Carvana has a one year low of $25.09 and a one year high of $208.30. The firm has a market cap of $41.57 billion, a price-to-earnings ratio of 90.01 and a beta of 3.44. 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 (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.23 billion. Equities research analysts anticipate that Carvana will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 15,814 shares of Carvana stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the transaction, the insider now owns 37,442,317 shares of the company’s stock, valued at $7,531,896,487.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $201.16, for a total transaction of $3,181,144.24. Following the completion of the sale, the insider now directly owns 37,442,317 shares of the company’s stock, valued at $7,531,896,487.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark W. Jenkins sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the transaction, the chief financial officer now directly owns 180,609 shares in the company, valued at $26,394,199.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,880,891 shares of company stock worth $479,638,935. 17.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in Carvana during the second quarter valued at $32,000. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana during the 3rd quarter valued at $32,000. Summit Securities Group LLC grew its stake in shares of Carvana by 110.0% during 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 period. Fifth Third Bancorp increased its holdings in 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 Carvana in the 2nd quarter valued at about $51,000. 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.