Carvana (CVNA) Price Target Cut to $40.00 by Analysts at Craig Hallum

Carvana (NYSE:CVNA) had its price objective lowered by Craig Hallum from $48.00 to $40.00 in a report issued on Tuesday, The Fly reports. The firm currently has a “hold” rating on the stock. Craig Hallum’s price objective suggests a potential upside of 4.17% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup boosted their price target on Carvana from $67.00 to $77.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. Stephens initiated coverage on Carvana in a report on Tuesday, September 4th. They issued an “equal weight” rating for the company. Wells Fargo & Co boosted their price target on Carvana from $60.00 to $72.00 and gave the stock an “outperform” rating in a report on Monday, October 1st. Wolfe Research initiated coverage on Carvana in a report on Tuesday, October 2nd. They issued an “outperform” rating for the company. Finally, Robert W. Baird boosted their price target on Carvana from $53.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 9th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Carvana currently has an average rating of “Buy” and a consensus price target of $58.41.

Shares of CVNA stock opened at $38.40 on Tuesday. The firm has a market cap of $5.53 billion, a P/E ratio of -31.74 and a beta of 2.11. Carvana has a 1 year low of $16.02 and a 1 year high of $72.59. The company has a quick ratio of 1.30, a current ratio of 2.04 and a debt-to-equity ratio of 1.55.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, November 7th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.03). The firm had revenue of $535.00 million for the quarter, compared to analyst estimates of $509.09 million. Carvana had a negative return on equity of 35.13% and a negative net margin of 5.01%. The business’s revenue for the quarter was up 137.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.29) earnings per share. As a group, research analysts predict that Carvana will post -1.61 earnings per share for the current year.

In other Carvana news, major shareholder Ernest C. Garcia II sold 114,274 shares of the business’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $47.47, for a total transaction of $5,424,586.78. Following the completion of the sale, the insider now owns 52,937,458 shares of the company’s stock, valued at $2,512,941,131.26. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael E. Maroone purchased 1,000 shares of the stock in a transaction on Monday, November 26th. The shares were purchased at an average cost of $43.85 per share, with a total value of $43,850.00. Following the transaction, the director now owns 30,000 shares of the company’s stock, valued at approximately $1,315,500. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 3,084,028 shares of company stock valued at $179,700,231. Company insiders own 21.69% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp acquired a new position in shares of Carvana during the third quarter worth about $157,000. Global X Management Co LLC acquired a new position in shares of Carvana during the second quarter worth about $124,000. Credit Suisse AG acquired a new position in shares of Carvana during the third quarter worth about $201,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Carvana during the third quarter worth about $214,000. Finally, Point72 Hong Kong Ltd acquired a new position in shares of Carvana during the third quarter worth about $216,000. 26.61% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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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