Carvana Co. (NYSE:CVNA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned an average rating of “Moderate Buy” from the twenty-four research firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $93.1391.

CVNA has been the subject of several recent analyst reports. Wedbush decreased their target price on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. William Blair reiterated an “outperform” rating on shares of Carvana in a report on Friday, March 13th. Robert W. Baird set a $88.00 target price on shares of Carvana in a report on Friday. Royal Bank Of Canada raised their target price on shares of Carvana from $88.00 to $92.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Finally, BNP Paribas Exane raised their target price on shares of Carvana from $77.60 to $85.80 in a report on Thursday, April 30th.

Insider Buying and Selling

In related news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $79.06, for a total transaction of $395,320.00. Following the transaction, the vice president directly owned 164,455 shares of the company’s stock, valued at approximately $13,002,470.12. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $77.44, for a total transaction of $4,936,672.50. Following the transaction, the chief financial officer directly owned 1,050,635 shares in the company, valued at $81,359,073.13. The trade was a 5.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 281,205 shares of company stock valued at $19,495,895. Company insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors purchased a new position in Carvana during the first quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Carvana during the fourth quarter worth $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Carvana during the fourth quarter worth $29,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC purchased a new stake in shares of Carvana during the fourth quarter worth $33,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Stock Performance

Shares of CVNA opened at $63.38 on Wednesday. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38. The firm’s 50 day moving average is $75.26 and its 200-day moving average is $76.96. The stock has a market capitalization of $69.52 billion, a P/E ratio of 38.55, a P/E/G ratio of 11.21 and a beta of 3.55. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. Equities research analysts anticipate that Carvana will post 1.57 EPS for the current fiscal year.

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.