Carvana Co (NYSE:CVNA) has been given a consensus rating of “Hold” by the sixteen ratings firms that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $20.81.
Several brokerages have recently commented on CVNA. Craig Hallum lowered Carvana from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Wednesday, March 7th. BMO Capital Markets lowered Carvana from an “outperform” rating to a “market perform” rating and set a $19.00 price target on the stock. in a research note on Wednesday, March 7th. Citigroup began coverage on Carvana in a research note on Friday, March 9th. They issued a “buy” rating and a $23.00 price target on the stock. Barrington Research reaffirmed a “hold” rating on shares of Carvana in a research note on Friday, March 2nd. Finally, Zacks Investment Research lowered Carvana from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd.
In related news, major shareholder Goodnow Investment Group, Llc purchased 81,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were bought at an average price of $18.23 per share, for a total transaction of $1,476,630.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 21.41% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Sylebra HK Co Ltd increased its holdings in shares of Carvana by 12.7% in the 4th quarter. Sylebra HK Co Ltd now owns 1,468,304 shares of the company’s stock valued at $28,074,000 after acquiring an additional 165,884 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Carvana by 24.2% in the 4th quarter. Clearbridge Investments LLC now owns 1,345,559 shares of the company’s stock valued at $25,727,000 after acquiring an additional 262,075 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Carvana by 34.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 698,660 shares of the company’s stock valued at $10,255,000 after acquiring an additional 180,631 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Carvana by 15.5% in the 4th quarter. Penserra Capital Management LLC now owns 375,613 shares of the company’s stock valued at $7,181,000 after acquiring an additional 50,470 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Carvana in the 4th quarter valued at about $7,000,000. Institutional investors own 14.86% of the company’s stock.
Shares of Carvana stock traded down $0.58 during trading hours on Friday, hitting $29.52. The company’s stock had a trading volume of 389,350 shares, compared to its average volume of 477,570. Carvana has a twelve month low of $8.14 and a twelve month high of $31.35. The firm has a market cap of $3,588.40 and a PE ratio of -25.04. The company has a quick ratio of 0.86, a current ratio of 1.60 and a debt-to-equity ratio of 0.27.
Carvana (NYSE:CVNA) last announced its quarterly earnings results on Tuesday, March 6th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.02). Carvana had a negative net margin of 11.17% and a negative return on equity of 74.69%. The business had revenue of $265.10 million during the quarter, compared to analyst estimates of $269.60 million. equities analysts expect that Carvana will post -1.33 earnings per share for the current year.
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Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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