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

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reissued by investment analysts at BTIG Research in a research note issued to investors on Friday, MarketBeat reports. They currently have a $87.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 37.68% from the company’s previous close.

A number of other brokerages also recently commented on CVNA. Citigroup reaffirmed a “market outperform” rating on shares of Carvana in a research note on Monday, August 31st. Wells Fargo & Company set a $80.00 target price on shares of Carvana and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Oppenheimer set a $90.00 target price on shares of Carvana and gave the stock an “outperform” rating in a research note on Wednesday, September 30th. DA Davidson set a $67.00 target price on shares of Carvana in a research note on Thursday, July 30th. Finally, UBS Group reaffirmed a “buy” rating and set a $83.00 target price on shares of Carvana in a research note on Friday, July 31st. One equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.13.

Carvana Stock Performance

NYSE:CVNA opened at $63.19 on Friday. The company’s 50-day moving average price is $68.93 and its 200-day moving average price is $68.57. 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 company has a market cap of $69.54 billion, a P/E ratio of 34.95, a P/E/G ratio of 1.81 and a beta of 3.55. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38.

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

Insider Buying and Selling

In related news, CFO Mark Jenkins sold 63,750 shares of Carvana stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $64.50, for a total value of $4,111,875.00. Following the completion of the transaction, the chief financial officer owned 1,156,534 shares in the company, valued at $74,596,443. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Michael Maroone purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $61.80 per share, with a total value of $1,545,000.00. Following the purchase, the director directly owned 168,573 shares of the company’s stock, valued at $10,417,811.40. The trade was a 17.41% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 352,564 shares of company stock valued at $23,800,480 over the last ninety days. 15.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CVNA. Ascentis Independent Advisors purchased a new position in Carvana in the first quarter worth approximately $26,000. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Carvana by 152.6% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Transamerica Financial Advisors LLC lifted its stake in Carvana by 558.0% in 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 purchased a new position in Carvana in the fourth quarter worth approximately $33,000. Finally, GoalVest Advisory LLC lifted its stake in Carvana by 400.0% in the second quarter. GoalVest Advisory LLC now owns 500 shares of the company’s stock worth $33,000 after acquiring an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.