Carvana Co (NYSE:CVNA) has been given an average recommendation of “Hold” by the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $69.00.
A number of analysts recently issued reports on CVNA shares. B. Riley reissued a “buy” rating and set a $91.00 price objective (up previously from $72.00) on shares of Carvana in a report on Monday, April 29th. Citigroup increased their price objective on Carvana from $80.00 to $90.00 and gave the stock a “positive” rating in a report on Thursday, May 9th. Wells Fargo & Co reissued a “buy” rating and set a $57.00 price objective on shares of Carvana in a report on Thursday, February 28th. Cowen started coverage on Carvana in a report on Monday, May 20th. They set an “outperform” rating and a $81.00 price objective on the stock. Finally, Morgan Stanley dropped their price objective on Carvana from $23.00 to $21.00 and set an “underweight” rating on the stock in a report on Thursday, February 28th.
Shares of CVNA opened at $61.78 on Friday. The stock has a market cap of $9.21 billion, a P/E ratio of -35.71 and a beta of 2.69. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.56 and a current ratio of 1.39. Carvana has a 52-week low of $28.44 and a 52-week high of $76.85.
Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). The company had revenue of $755.23 million for the quarter, compared to analysts’ expectations of $696.61 million. Carvana had a negative return on equity of 30.85% and a negative net margin of 3.54%. As a group, research analysts expect that Carvana will post -1.81 EPS for the current year.
In other Carvana news, major shareholder Ernest C. Garcia II sold 96,747 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $57.56, for a total value of $5,568,757.32. Following the transaction, the insider now directly owns 52,937,458 shares in the company, valued at approximately $3,047,080,082.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 145,513 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $56.39, for a total value of $8,205,478.07. Following the completion of the transaction, the insider now owns 52,937,458 shares in the company, valued at $2,985,143,256.62. The disclosure for this sale can be found here. Insiders sold a total of 3,352,643 shares of company stock worth $210,077,239 over the last 90 days. Corporate insiders own 13.02% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp bought a new position in shares of Carvana during the 1st quarter valued at about $29,000. Valeo Financial Advisors LLC increased its position in shares of Carvana by 100.0% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock valued at $58,000 after purchasing an additional 500 shares during the last quarter. Cambria Investment Management L.P. bought a new position in shares of Carvana during the 1st quarter valued at about $167,000. MML Investors Services LLC bought a new position in shares of Carvana during the 1st quarter valued at about $206,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Carvana during the 1st quarter valued at about $218,000. Institutional investors and hedge funds own 37.08% of the company’s stock.
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 proprietary 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.
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