Carvana (NYSE:CVNA) Price Target Raised to $270.00 at Bank of America

Carvana (NYSE:CVNA) had its price target upped by Bank of America from $252.00 to $270.00 in a research note issued to investors on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts have also recently commented on CVNA. DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday. Needham & Company LLC increased their price target on shares of Carvana from $330.00 to $340.00 and gave the company a “buy” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Wells Fargo & Company cut their price target on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Robert W. Baird increased their price target on shares of Carvana from $200.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carvana presently has a consensus rating of “Moderate Buy” and a consensus price target of $265.06.

Carvana Stock Down 9.9 %

CVNA stock opened at $223.14 on Friday. Carvana has a one year low of $49.38 and a one year high of $292.84. The stock has a market capitalization of $46.33 billion, a PE ratio of 142.13 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. The company has a fifty day moving average of $234.35 and a 200-day moving average of $207.79.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 446.67%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.32 billion. As a group, analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Transactions at Carvana

In other news, CFO Mark W. Jenkins sold 20,000 shares of Carvana stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now directly owns 199,962 shares in the company, valued at $55,125,524.16. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 173,629 shares of company stock worth $44,833,799 over the last ninety days. 17.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. FMR LLC grew its holdings in shares of Carvana by 90.8% during the third quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after buying an additional 5,882,656 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Carvana in the third quarter worth approximately $162,953,000. Norges Bank acquired a new stake in shares of Carvana in the fourth quarter worth approximately $179,364,000. Vanguard Group Inc. boosted its position in shares of Carvana by 5.6% in the fourth quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after acquiring an additional 610,234 shares during the last quarter. Finally, Castle Hook Partners LP acquired a new stake in shares of Carvana in the fourth quarter worth approximately $116,020,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

About Carvana

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.