Deutsche Bank lowered shares of Carvana (NYSE:CVNA) from a buy rating to a hold rating in a research note released on Friday morning, Marketbeat reports. Deutsche Bank currently has $23.50 target price on the stock, up from their previous target price of $22.00.
Several other research firms also recently issued reports on CVNA. B. Riley reaffirmed a sell rating and set a $12.00 price target on shares of Carvana in a research note on Monday, December 4th. Robert W. Baird lifted their target price on shares of Carvana from $17.00 to $23.00 and gave the stock an outperform rating in a research note on Tuesday, December 5th. Wedbush reissued a neutral rating and set a $18.14 target price (down previously from $20.00) on shares of Carvana in a research note on Friday, September 15th. ValuEngine downgraded shares of Carvana from a hold rating to a sell rating in a research note on Friday, December 1st. Finally, Susquehanna Bancshares reissued a neutral rating and set a $16.00 target price (up previously from $12.00) on shares of Carvana in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Carvana presently has a consensus rating of Hold and a consensus target price of $19.88.
Carvana (NYSE:CVNA) opened at $20.67 on Friday. Carvana has a 52 week low of $8.14 and a 52 week high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50.
Carvana (NYSE:CVNA) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. research analysts expect that Carvana will post -1.2 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Abrams Bison Investments LLC bought a new position in Carvana during the second quarter worth $51,175,000. FMR LLC acquired a new stake in Carvana in the second quarter worth $26,992,000. Sylebra HK Co Ltd grew its holdings in Carvana by 184.4% in the third quarter. Sylebra HK Co Ltd now owns 1,302,420 shares of the company’s stock worth $19,120,000 after purchasing an additional 844,516 shares during the period. Goodnow Investment Group LLC grew its holdings in Carvana by 45.0% in the third quarter. Goodnow Investment Group LLC now owns 829,142 shares of the company’s stock worth $12,172,000 after purchasing an additional 257,297 shares during the period. Finally, Royal Bank of Canada acquired a new stake in Carvana in the second quarter worth $15,354,000. 15.20% of the stock is owned by institutional investors and hedge funds.
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Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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