Carvana (NYSE:CVNA) Stock Keeps Buy Rating at BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a report issued on Friday, MarketBeat Ratings reports. They currently have a $87.00 price objective on the stock. BTIG Research’s target price points to a potential upside of 36.53% from the company’s current price.

A number of other research analysts also recently issued reports on CVNA. Morgan Stanley set a $90.00 price objective on Carvana and gave the stock an “overweight” rating in a report on Thursday, July 30th. Citizens Jmp reduced their price target on Carvana from $103.00 to $83.00 and set a “market outperform” rating for the company in a research report on Thursday, July 30th. UBS Group reiterated a “buy” rating and issued a $83.00 price objective on shares of Carvana in a report on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 target price on shares of Carvana in a report on Friday, July 31st. Finally, Stephens reissued an “overweight” rating and set a $83.00 price target (down from $91.50) on shares of Carvana in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.13.

Carvana Stock Up 0.8%

NYSE CVNA traded up $0.52 during trading hours on Friday, reaching $63.72. 6,796,713 shares of the company’s stock were exchanged, compared to its average volume of 13,250,105. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The company has a market capitalization of $70.12 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.81 and a beta of 3.55. The company’s 50-day moving average is $68.93 and its two-hundred day moving average is $68.57. Carvana has a one year low of $54.46 and a one year high of $97.38.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS 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 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 quarterly revenue was up 52.4% on a year-over-year basis. During the same period last year, the business posted $1.51 earnings per share. On average, analysts forecast that Carvana will post 1.67 EPS for the current fiscal year.

Insider Transactions at Carvana

In other news, CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $61.64, for a total value of $3,929,550.00. Following the completion of the transaction, the chief financial officer owned 1,142,502 shares of the company’s stock, valued at $70,423,823.28. This trade represents a 5.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the sale, the director owned 214,960 shares of the company’s stock, valued at $16,122,000. This trade represents a 6.33% 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 quarter, insiders have sold 352,564 shares of company stock valued at $23,800,480. 15.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Ascentis Independent Advisors bought a new position in Carvana during the first quarter worth $26,000. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Carvana by 152.6% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Transamerica Financial Advisors LLC lifted its position in Carvana by 558.0% during the second quarter. Transamerica Financial Advisors LLC now owns 454 shares of the company’s stock worth $30,000 after acquiring an additional 385 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Carvana during the fourth quarter worth approximately $33,000. Finally, GoalVest Advisory LLC grew its position in shares of Carvana by 400.0% in the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock valued at $33,000 after purchasing an additional 400 shares during the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.