Carvana (NYSE:CVNA) Given “Outperform” Rating at William Blair

Carvana (NYSE:CVNA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at William Blair in a research report issued on Thursday,RTT News reports.

CVNA has been the subject of a number of other reports. Citigroup upgraded shares of Carvana from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $110.00 to $260.00 in a research report on Tuesday, November 5th. Robert W. Baird increased their price target on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Finally, Needham & Company LLC lifted their price target on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Carvana has a consensus rating of “Moderate Buy” and an average target price of $252.82.

Carvana Stock Down 16.1 %

Carvana stock traded down $45.26 during mid-day trading on Thursday, hitting $236.56. 7,819,467 shares of the company’s stock were exchanged, compared to its average volume of 3,822,197. The stock has a market cap of $49.12 billion, a P/E ratio of 23,727.93 and a beta of 3.37. The stock has a 50 day moving average of $234.84 and a two-hundred day moving average of $206.90. Carvana has a 1-year low of $48.15 and a 1-year high of $292.84. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. As a group, analysts anticipate that Carvana will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Daniel J. Gill sold 44,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the transaction, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $255.07, for a total transaction of $2,550,700.00. Following the completion of the transaction, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. The trade was a 5.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 173,629 shares of company stock worth $44,833,799. 17.12% of the stock is owned by company insiders.

Institutional Trading of Carvana

Large investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC boosted its holdings in shares of Carvana by 3.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after acquiring an additional 51 shares during the period. Bleakley Financial Group LLC boosted its holdings in shares of Carvana by 2.8% in the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC raised its position in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock worth $87,000 after acquiring an additional 74 shares in the last quarter. Forum Financial Management LP raised its position in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC raised its position in Carvana by 2.1% in the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

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.