Carvana Co. (NYSE:CVNA) Receives Consensus Recommendation of “Hold” from Analysts

Carvana Co. (NYSE:CVNA) has been assigned an average rating of “Hold” from the seventeen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $100.93.

CVNA has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of Carvana in a report on Thursday, May 2nd. BTIG Research started coverage on shares of Carvana in a research note on Friday, July 12th. They issued a “buy” rating and a $155.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Carvana from $60.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Evercore ISI lifted their price objective on shares of Carvana from $135.00 to $140.00 and gave the company an “in-line” rating in a research note on Tuesday, July 16th.

Insiders Place Their Bets

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $85.71, for a total transaction of $428,550.00. Following the transaction, the vice president now directly owns 56,872 shares of the company’s stock, valued at approximately $4,874,499.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $136.18, for a total value of $10,213,500.00. Following the transaction, the insider now directly owns 2,315,814 shares of the company’s stock, valued at approximately $315,367,550.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $85.71, for a total transaction of $428,550.00. Following the completion of the transaction, the vice president now directly owns 56,872 shares in the company, valued at $4,874,499.12. The disclosure for this sale can be found here. Insiders have sold 2,376,446 shares of company stock valued at $274,746,431 in the last three months. 17.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clay Northam Wealth Management LLC purchased a new position in shares of Carvana in the 2nd quarter worth about $225,000. Raymond James & Associates raised its stake in Carvana by 154.1% in the 2nd quarter. Raymond James & Associates now owns 10,544 shares of the company’s stock valued at $1,357,000 after acquiring an additional 6,394 shares during the period. Blue Trust Inc. bought a new stake in Carvana in the 2nd quarter valued at about $106,000. Assenagon Asset Management S.A. bought a new stake in Carvana in the 2nd quarter valued at about $39,997,000. Finally, J.Safra Asset Management Corp raised its stake in Carvana by 570.6% in the 2nd quarter. J.Safra Asset Management Corp now owns 684 shares of the company’s stock valued at $88,000 after acquiring an additional 582 shares during the period. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Carvana stock opened at $130.06 on Friday. Carvana has a 52-week low of $25.09 and a 52-week high of $147.25. The firm has a 50 day moving average price of $117.60 and a two-hundred day moving average price of $86.55. The firm has a market cap of $26.35 billion, a price-to-earnings ratio of 57.04 and a beta of 3.37.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.35. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities research analysts predict that Carvana will post -0.75 EPS for the current fiscal year.

Carvana Company Profile

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 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.