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

Shares of Carvana Co. (NYSE:CVNA) have been assigned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $93.1391.

A number of equities research analysts have recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of Carvana in a report on Friday, March 13th. Wells Fargo & Company increased their price target on shares of Carvana from $85.00 to $95.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Citigroup reissued an “outperform” rating on shares of Carvana in a report on Friday, May 1st. Wedbush lowered their price target on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Finally, Jefferies Financial Group lowered their price target on shares of Carvana from $97.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, April 14th.

Carvana Trading Down 5.5%

Shares of Carvana stock opened at $64.09 on Friday. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38. The company has a market cap of $70.30 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 10.82 and a beta of 3.45. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $71.20 and its 200-day moving average price is $75.23.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. On average, equities analysts expect that Carvana will post 1.58 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $70.40, for a total value of $4,488,000.00. Following the sale, the chief financial officer directly owned 1,036,594 shares of the company’s stock, valued at $72,976,217.60. This trade represents a 5.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Danforth Quayle sold 14,525 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total transaction of $1,016,750.00. Following the completion of the sale, the director directly owned 214,960 shares in the company, valued at $15,047,200. This 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. In the last 90 days, insiders sold 400,812 shares of company stock valued at $28,039,446. Company insiders own 15.19% of the company’s stock.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in Carvana by 24.1% in the first quarter. Parallel Advisors LLC now owns 933 shares of the company’s stock valued at $294,000 after purchasing an additional 181 shares in the last quarter. NewEdge Advisors LLC raised its stake in Carvana by 22.5% in the first quarter. NewEdge Advisors LLC now owns 22,356 shares of the company’s stock valued at $7,028,000 after purchasing an additional 4,106 shares in the last quarter. Alpha Capital Advisors Inc. ADV raised its stake in Carvana by 40.0% in the first quarter. Alpha Capital Advisors Inc. ADV now owns 700 shares of the company’s stock valued at $220,000 after purchasing an additional 200 shares in the last quarter. Glenmede Trust Co. NA raised its stake in Carvana by 146.5% in the first quarter. Glenmede Trust Co. NA now owns 1,743 shares of the company’s stock valued at $548,000 after purchasing an additional 1,036 shares in the last quarter. Finally, Groupama Asset Managment purchased a new stake in Carvana in the first quarter valued at approximately $249,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Company Profile

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.