Carvana (CVNA) Coverage Initiated by Analysts at Citigroup

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Citigroup initiated coverage on shares of Carvana (NYSE:CVNA) in a report published on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $55.00 price objective on the stock.

Several other equities analysts have also recently weighed in on CVNA. Zacks Investment Research cut shares of Carvana from a hold rating to a sell rating in a research report on Thursday, November 1st. JMP Securities raised their price target on shares of Carvana from $63.00 to $64.00 and gave the company a market outperform rating in a research report on Tuesday, November 13th. Barrington Research reaffirmed a buy rating on shares of Carvana in a research report on Tuesday, November 13th. Bank of America raised their price target on shares of Carvana from $60.00 to $72.00 and gave the company a buy rating in a research report on Thursday, November 8th. Finally, Craig Hallum set a $48.00 price target on shares of Carvana and gave the company a hold rating in a research report on Thursday, August 9th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $56.41.

NYSE CVNA traded down $2.87 during trading hours on Friday, hitting $35.71. The company’s stock had a trading volume of 2,914,667 shares, compared to its average volume of 1,486,690. Carvana has a 52 week low of $16.02 and a 52 week high of $72.59. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of -29.51 and a beta of 2.11. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.30 and a current ratio of 2.04.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, November 7th. The company reported ($0.40) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.03). Carvana had a negative net margin of 5.01% and a negative return on equity of 35.13%. The business had revenue of $535.00 million during the quarter, compared to the consensus estimate of $509.09 million. During the same period in the previous year, the business posted ($0.29) EPS. Carvana’s revenue was up 137.8% compared to the same quarter last year. On average, sell-side analysts predict that Carvana will post -1.63 EPS for the current year.

In other news, Director Michael E. Maroone acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 26th. The stock was purchased at an average price of $43.85 per share, for a total transaction of $43,850.00. Following the purchase, the director now owns 30,000 shares in the company, valued at approximately $1,315,500. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Ddfs Partnership Lp sold 896,542 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $64.93, for a total transaction of $58,212,472.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,084,028 shares of company stock valued at $179,700,231. Company insiders own 21.69% of the company’s stock.

A number of large investors have recently bought and sold shares of CVNA. Global X Management Co LLC purchased a new stake in shares of Carvana during the 2nd quarter worth approximately $124,000. Fifth Third Bancorp purchased a new stake in shares of Carvana during the 3rd quarter worth approximately $157,000. Legal & General Group Plc increased its stake in shares of Carvana by 61.1% during the 2nd quarter. Legal & General Group Plc now owns 4,251 shares of the company’s stock worth $177,000 after purchasing an additional 1,612 shares during the last quarter. Credit Suisse AG purchased a new stake in shares of Carvana during the 3rd quarter worth approximately $201,000. Finally, United Services Automobile Association purchased a new stake in shares of Carvana during the 2nd quarter worth approximately $206,000. Hedge funds and other institutional investors own 26.61% of the company’s stock.

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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Analyst Recommendations for Carvana (NYSE:CVNA)

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