Carvana (NYSE:CVNA) Given Buy Rating at BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating restated by equities researchers at BTIG Research in a report issued on Friday, Marketbeat Ratings reports. They presently have a $87.00 price target on the stock. BTIG Research’s target price points to a potential upside of 36.55% from the stock’s current price.

A number of other brokerages have also recently weighed in on CVNA. Morgan Stanley set a $90.00 price objective on shares of Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Zacks Research cut shares of Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Citizens Jmp cut their price objective on shares of Carvana from $103.00 to $83.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Barclays restated an “overweight” rating and issued a $80.00 price objective (down from $93.00) on shares of Carvana in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Carvana in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and a consensus target price of $83.13.

Carvana Stock Up 0.8%

CVNA traded up $0.51 during midday trading on Friday, reaching $63.71. The company’s stock had a trading volume of 2,959,951 shares, compared to its average volume of 13,229,530. The firm has a market capitalization of $70.11 billion, a price-to-earnings ratio of 35.21, a PEG ratio of 1.81 and a beta of 3.55. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. Carvana has a 1 year low of $54.46 and a 1 year high of $97.38. The stock’s 50-day moving average is $68.93 and its 200-day moving average is $68.57.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. The business had revenue of $7.38 billion for the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.51 earnings per share. As a group, research analysts expect that Carvana will post 1.67 EPS for the current year.

Insider Activity at Carvana

In related news, Director Ira Platt sold 15,000 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the transaction, the director owned 186,470 shares in the company, valued at $14,078,485. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Taira sold 16,789 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $70.58, for a total transaction of $1,184,967.62. Following the transaction, the insider owned 366,987 shares in the company, valued at approximately $25,901,942.46. This trade represents a 4.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 352,564 shares of company stock valued at $23,800,480 over the last quarter. 15.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SJS Investment Consulting Inc. grew its position in shares of Carvana by 29.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 183 shares of the company’s stock worth $58,000 after buying an additional 42 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Meeder Advisory Services Inc. grew its position in shares of Carvana by 3.9% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,993 shares of the company’s stock worth $627,000 after buying an additional 75 shares during the last quarter. Motiv8 Investments LLC purchased a new position in shares of Carvana in the 4th quarter worth approximately $33,000. Finally, Ascentis Independent Advisors purchased a new position in shares of Carvana in the 1st quarter worth approximately $26,000. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.