Carvana Co. (NYSE:CVNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Carvana Co. (NYSE:CVNA) have been given an average recommendation of “Moderate Buy” by the twenty-four analysts that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $92.9217.

A number of research firms have recently commented on CVNA. Citigroup restated an “outperform” rating on shares of Carvana in a report on Friday, May 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Carvana in a research report on Thursday, June 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $92.00 target price on shares of Carvana in a research note on Friday, June 12th. Argus reduced their target price on shares of Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Finally, UBS Group reaffirmed a “buy” rating and set a $104.00 price target (up from $97.00) on shares of Carvana in a research note on Thursday, April 30th.

Carvana Trading Up 0.3%

Shares of NYSE CVNA opened at $70.59 on Thursday. Carvana has a fifty-two week low of $54.46 and a fifty-two week high of $97.38. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. The company has a market cap of $77.43 billion, a price-to-earnings ratio of 42.94, a PEG ratio of 11.88 and a beta of 3.46. The business’s 50 day moving average price is $68.21 and its 200-day moving average price is $72.55.

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

Insider Buying and Selling at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $68.55, for a total value of $3,427,500.00. Following the completion of the sale, the chief operating officer directly owned 458,755 shares in the company, valued at approximately $31,447,655.25. This represents a 9.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $68.53, for a total value of $342,650.00. Following the transaction, the vice president owned 144,934 shares in the company, valued at approximately $9,932,327.02. This represents a 3.33% 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 sold a total of 396,962 shares of company stock worth $28,525,088 over the last quarter. Insiders own 15.19% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of the business. Trust Asset Management LLC boosted its stake in shares of Carvana by 400.0% during the second quarter. Trust Asset Management LLC now owns 7,785 shares of the company’s stock valued at $512,000 after purchasing an additional 6,228 shares in the last quarter. Annex Advisory Services LLC lifted its holdings in Carvana by 405.8% during the second quarter. Annex Advisory Services LLC now owns 10,643 shares of the company’s stock worth $701,000 after buying an additional 8,539 shares during the period. Tema ETFs LLC lifted its holdings in Carvana by 451.0% during the second quarter. Tema ETFs LLC now owns 13,919 shares of the company’s stock worth $916,000 after buying an additional 11,393 shares during the period. E. Ohman J or Asset Management AB boosted its position in Carvana by 400.0% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 21,000 shares of the company’s stock valued at $1,382,000 after acquiring an additional 16,800 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in shares of Carvana by 277.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 345,837 shares of the company’s stock valued at $22,763,000 after acquiring an additional 254,114 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.