Carvana Co. (NASDAQ:CVNA) PT Lowered to $17.00

Carvana Co. (NYSE:CVNA) had its price objective lowered by Robert W. Baird from $22.00 to $17.00 in a research note issued to investors on Wednesday, November 8th. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts also recently commented on CVNA. Wedbush began coverage on Carvana in a report on Monday, July 17th. They set a neutral rating and a $25.00 target price on the stock. Zacks Investment Research downgraded Carvana from a buy rating to a sell rating in a report on Thursday, November 2nd. B. Riley assumed coverage on Carvana in a report on Friday, September 22nd. They set a sell rating and a $12.00 target price on the stock. Barrington Research assumed coverage on Carvana in a report on Friday, October 27th. They issued a market perform rating on the stock. Finally, BMO Capital Markets cut their price target on Carvana from $25.00 to $19.00 and set an outperform rating on the stock in a report on Wednesday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $19.31.

Shares of Carvana (NYSE:CVNA) opened at $15.74 on Wednesday. Carvana has a 12 month low of $8.14 and a 12 month high of $23.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.01. The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. sell-side analysts predict that Carvana will post -1.19 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors acquired a new stake in shares of Carvana in the second quarter worth $177,000. Nordea Investment Management AB acquired a new stake in Carvana during the second quarter valued at $190,000. ClariVest Asset Management LLC acquired a new stake in Carvana during the second quarter valued at $190,000. JPMorgan Chase & Co. boosted its position in Carvana by 2,272.3% during the third quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock valued at $165,000 after purchasing an additional 10,589 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Carvana during the third quarter valued at $185,000. 15.20% of the stock is owned by institutional investors and hedge funds.

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About Carvana

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

Analyst Recommendations for Carvana (NYSE:CVNA)

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