Jefferies Financial Group Cuts Carvana (NYSE:CVNA) Price Target to $485.00

Carvana (NYSE:CVNA) had its target price decreased by Jefferies Financial Group from $550.00 to $485.00 in a research note published on Monday,MarketScreener reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other brokerages also recently issued reports on CVNA. JPMorgan Chase & Co. cut their price target on Carvana from $510.00 to $490.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. BTIG Research cut their target price on Carvana from $535.00 to $455.00 and set a “buy” rating on the stock in a research note on Thursday, February 19th. UBS Group set a $485.00 price target on shares of Carvana in a report on Friday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $519.00 price objective on shares of Carvana in a report on Thursday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and set a $500.00 target price on shares of Carvana in a research note on Thursday, February 19th. Twenty analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average target price of $440.59.

Carvana Stock Up 3.1%

Shares of NYSE:CVNA opened at $335.30 on Monday. The company’s fifty day moving average is $415.71 and its two-hundred day moving average is $381.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. Carvana has a 1-year low of $148.25 and a 1-year high of $486.89. The stock has a market capitalization of $72.94 billion, a price-to-earnings ratio of 41.70 and a beta of 3.57.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating the consensus estimate of $1.10 by $3.12. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The business had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same period in the previous year, the business posted $0.56 EPS. The company’s quarterly revenue was up 58.0% on a year-over-year basis. Equities analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other news, VP Stephen R. Palmer sold 1,000 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the sale, the vice president owned 37,192 shares of the company’s stock, valued at approximately $14,617,943.68. The trade was a 2.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Taira sold 1,047 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $398.54, for a total value of $417,271.38. Following the completion of the sale, the insider owned 66,625 shares of the company’s stock, valued at approximately $26,552,727.50. This trade represents a 1.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 410,351 shares of company stock valued at $176,089,049 over the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its position in shares of Carvana by 1,950.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 111,190 shares of the company’s stock valued at $37,467,000 after purchasing an additional 105,768 shares during the period. Federated Hermes Inc. raised its holdings in Carvana by 124.9% during the 3rd quarter. Federated Hermes Inc. now owns 265,921 shares of the company’s stock worth $100,316,000 after buying an additional 147,683 shares during the period. Hudson Bay Capital Management LP lifted its stake in Carvana by 158.0% during the second quarter. Hudson Bay Capital Management LP now owns 16,478 shares of the company’s stock valued at $5,552,000 after buying an additional 10,090 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Carvana by 11.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 637,462 shares of the company’s stock worth $240,476,000 after buying an additional 64,424 shares during the period. Finally, Strs Ohio increased its position in shares of Carvana by 89.9% in the third quarter. Strs Ohio now owns 37,756 shares of the company’s stock worth $14,243,000 after acquiring an additional 17,878 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

About Carvana

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.