Carvana (NYSE:CVNA) Price Target Lowered to $220.00 at Bank of America

Carvana (NYSE:CVNA) had its price objective trimmed by Bank of America from $270.00 to $220.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CVNA has been the topic of a number of other research reports. Stephens reissued an “overweight” rating and set a $300.00 price objective on shares of Carvana in a research report on Monday, March 3rd. Royal Bank of Canada increased their price objective on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. William Blair reissued an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. JMP Securities reissued a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research report on Monday, December 16th. Finally, Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a research report on Wednesday, February 19th. Eight 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 currently has an average rating of “Moderate Buy” and an average target price of $262.71.

Carvana Stock Performance

Shares of CVNA opened at $181.37 on Friday. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a market capitalization of $38.66 billion, a P/E ratio of 115.52 and a beta of 3.56. The firm’s fifty day simple moving average is $228.94 and its two-hundred day simple moving average is $213.48. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 69,784 shares of company stock worth $18,599,844. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the stock. Quent Capital LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $28,000. Global Retirement Partners LLC increased its stake in shares of Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc bought a new position in Carvana in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.