Carvana (NYSE:CVNA) Earns Buy Rating from BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a report issued on Friday, Marketbeat.com reports. They presently have a $87.00 price target on the stock. BTIG Research’s price target points to a potential upside of 36.08% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank Of Canada set a $82.00 target price on Carvana and gave the company an “outperform” rating in a research note on Thursday, July 30th. Evercore set a $75.00 price objective on Carvana in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 price objective on shares of Carvana in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 target price on shares of Carvana in a research report on Friday, July 31st. Finally, Hovde Group upped their price target on shares of Carvana from $39.50 to $48.00 and gave the company a “market perform” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.13.

Carvana Price Performance

CVNA traded up $0.74 on Friday, hitting $63.94. 3,913,573 shares of the stock were exchanged, compared to its average volume of 13,234,354. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.93 and a quick ratio of 2.33. The firm has a market capitalization of $70.36 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 1.81 and a beta of 3.55. The business has a 50-day moving average of $68.93 and a two-hundred day moving average of $68.57. Carvana has a 12 month low of $54.46 and a 12 month high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The firm’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 EPS. Sell-side analysts forecast that Carvana will post 1.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $3,577,500.00. Following the completion of the transaction, the chief operating officer owned 478,693 shares in the company, valued at $34,250,484.15. This trade represents a 9.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of Carvana stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.00, for a total value of $1,089,375.00. Following the completion of the sale, the director directly owned 214,960 shares in the company, valued at $16,122,000. This trade represents a 6.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 352,564 shares of company stock worth $23,800,480 in the last 90 days. 15.19% of the stock is owned by company insiders.

Institutional Trading of Carvana

Hedge funds have recently modified their holdings of the company. Sands Capital Management LLC increased its stake in Carvana by 44.4% in the fourth quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after purchasing an additional 751,019 shares during the period. Capricorn Fund Managers Ltd purchased a new stake in shares of Carvana during the first quarter valued at $29,866,000. Saudi Central Bank boosted its stake in shares of Carvana by 806.1% during the second quarter. Saudi Central Bank now owns 45,043 shares of the company’s stock valued at $2,965,000 after purchasing an additional 40,072 shares during the period. Gavilan Investment Partners LLC grew its holdings in shares of Carvana by 24.6% in the fourth quarter. Gavilan Investment Partners LLC now owns 86,000 shares of the company’s stock worth $36,294,000 after purchasing an additional 17,000 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new position in Carvana in the 2nd quarter worth about $23,046,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.