Carvana (NYSE:CVNA) Receives “In-Line” Rating from Evercore ISI

Evercore ISI reiterated their in-line rating on shares of Carvana (NYSE:CVNA) in a research note published on Thursday morning, Benzinga reports. They currently have a $178.00 target price on the stock.

Other research analysts have also recently issued research reports about the company. Bank of America restated a buy rating and issued a $185.00 target price on shares of Carvana in a research note on Tuesday, September 17th. JPMorgan Chase & Co. upped their target price on shares of Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a research report on Friday, July 19th. Royal Bank of Canada raised shares of Carvana to a sector perform rating and boosted their price objective for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. Morgan Stanley lifted their target price on shares of Carvana from $75.00 to $110.00 and gave the company an underweight rating in a report on Thursday, August 1st. Finally, TD Cowen upped their price target on Carvana from $110.00 to $148.00 and gave the stock a hold rating in a research note on Thursday, August 1st. 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 stock. According to MarketBeat.com, Carvana presently has a consensus rating of Hold and an average price target of $155.12.

Carvana Stock Down 0.8 %

Shares of NYSE:CVNA opened at $169.78 on Thursday. The company has a market cap of $34.39 billion, a PE ratio of 74.46 and a beta of 3.43. Carvana has a 1 year low of $25.09 and a 1 year high of $176.33. The stock’s 50-day moving average is $146.68 and its 200 day moving average is $118.84. 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 released its quarterly earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The company had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Sell-side analysts anticipate that Carvana will post 0.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ira J. Platt sold 664 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total value of $99,600.00. Following the transaction, the director now owns 30,227 shares of the company’s stock, valued at $4,534,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $127.09, for a total transaction of $9,531,750.00. Following the sale, the insider now owns 412,500 shares in the company, valued at approximately $52,424,625. The disclosure for this sale can be found here. Insiders sold 2,486,866 shares of company stock valued at $357,967,534 over the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Carvana by 7.0% during the fourth quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock valued at $530,648,000 after buying an additional 655,603 shares during the last quarter. Rafferty Asset Management LLC grew its position in shares of Carvana by 38.6% during the fourth quarter. Rafferty Asset Management LLC now owns 43,792 shares of the company’s stock valued at $2,318,000 after purchasing an additional 12,193 shares in the last quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV grew its position in shares of Carvana by 17.6% during the fourth quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 500,000 shares of the company’s stock valued at $26,470,000 after purchasing an additional 75,000 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Carvana in the first quarter worth about $1,783,000. Finally, US Bancorp DE lifted its position in shares of Carvana by 724.5% in the first quarter. US Bancorp DE now owns 5,549 shares of the company’s stock worth $488,000 after buying an additional 4,876 shares in 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.