Carvana Co. (NYSE:CVNA) Stock Has Average Price Target of $84.14 According to Brokerages

Carvana Co. (NYSE:CVNA) has received an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $84.14.

CVNA has been the subject of several research reports. UBS Group reaffirmed a “buy” rating and issued a $83.00 target price on shares of Carvana in a research report on Friday, July 31st. Barclays lowered their price objective on shares of Carvana from $94.00 to $93.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Wells Fargo & Company set a $80.00 price objective on shares of Carvana and gave the company an “overweight” rating in a report on Thursday, July 30th. Robert W. Baird set a $72.00 target price on shares of Carvana in a research note on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday.

Carvana Trading Up 0.4%

Shares of NYSE CVNA opened at $64.21 on Tuesday. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94. The stock has a fifty day simple moving average of $69.06 and a 200-day simple moving average of $68.45. The stock has a market capitalization of $70.66 billion, a PE ratio of 35.52, a PEG ratio of 1.88 and a beta of 3.49.

Carvana (NYSE:CVNA) last posted its quarterly earnings data 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. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the business earned $1.51 EPS. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. On average, equities analysts forecast that Carvana will post 1.68 earnings per share for the current year.

Insider Buying and Selling at Carvana

In related news, COO Benjamin Huston sold 50,000 shares of Carvana stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total value of $3,577,500.00. Following the completion of the transaction, the chief operating officer directly owned 478,693 shares in the company, valued at approximately $34,250,484.15. This trade represents a 9.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 16,789 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $70.58, for a total value of $1,184,967.62. Following the transaction, the insider directly owned 366,987 shares of the company’s stock, valued at $25,901,942.46. The trade was a 4.37% 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 ninety days, insiders have sold 402,564 shares of company stock valued at $27,689,555. Insiders own 15.19% of the company’s stock.

Institutional Investors Weigh In On Carvana

Hedge funds have recently bought and sold shares of the stock. Sands Capital Management LLC lifted its stake in Carvana by 44.4% during 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 last quarter. Capricorn Fund Managers Ltd purchased a new position in Carvana in the first quarter valued at approximately $29,866,000. Saudi Central Bank raised its holdings in Carvana by 806.1% during the second quarter. Saudi Central Bank now owns 45,043 shares of the company’s stock worth $2,965,000 after purchasing an additional 40,072 shares in the last quarter. Gavilan Investment Partners LLC raised its holdings in Carvana by 24.6% during 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 in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in Carvana by 239.6% during the fourth quarter. Hsbc Holdings PLC now owns 221,727 shares of the company’s stock worth $93,748,000 after purchasing an additional 156,430 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.