Carvana (NYSE:CVNA) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Carvana (NYSE:CVNA) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Carvana Co. provide eCommerce platform for buying used cars. Carvana Co. is headquartered in Phoenix, Arizona. “

A number of other equities analysts also recently issued reports on CVNA. Morgan Stanley lowered their price target on Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating on the stock in a research report on Tuesday. B. Riley reiterated a buy rating on shares of Insight Enterprises in a research report on Monday, April 29th. Cowen started coverage on TrueCar in a report on Monday, May 20th. They set a hold rating and a $7.00 target price for the company. Citigroup raised Copa from a neutral rating to a buy rating in a report on Thursday, May 9th. Finally, Robert W. Baird increased their target price on Carvana from $65.00 to $85.00 and gave the company an outperform rating in a report on Thursday, May 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. Carvana presently has an average rating of Hold and a consensus price target of $67.92.



CVNA stock traded up $0.84 during mid-day trading on Tuesday, reaching $65.43. 1,373 shares of the company’s stock were exchanged, compared to its average volume of 1,301,926. The firm has a market capitalization of $10.17 billion, a P/E ratio of -37.78 and a beta of 2.40. The firm has a 50 day moving average of $62.45. The company has a current ratio of 1.39, a quick ratio of 0.56 and a debt-to-equity ratio of 2.73. Carvana has a 12-month low of $28.44 and a 12-month high of $76.85.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.03). The business had revenue of $755.23 million for the quarter, compared to analysts’ expectations of $696.61 million. Carvana had a negative return on equity of 30.85% and a negative net margin of 3.54%. Analysts predict that Carvana will post -1.82 earnings per share for the current year.

In other Carvana news, insider Paul W. Breaux sold 12,500 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $59.05, for a total transaction of $738,125.00. Following the completion of the transaction, the insider now owns 10,628 shares of the company’s stock, valued at $627,583.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Breaux sold 10,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $62.72, for a total value of $627,200.00. Following the transaction, the insider now directly owns 10,628 shares of the company’s stock, valued at approximately $666,588.16. The disclosure for this sale can be found here. Insiders have sold 2,114,002 shares of company stock valued at $136,910,749 in the last three months. Insiders own 13.02% of the company’s stock.

Several large investors have recently bought and sold shares of CVNA. Bank of New York Mellon Corp boosted its stake in shares of Carvana by 59.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,090,063 shares of the company’s stock valued at $35,656,000 after purchasing an additional 404,714 shares during the period. Raymond James & Associates lifted its stake in Carvana by 61.3% in the fourth quarter. Raymond James & Associates now owns 18,410 shares of the company’s stock worth $602,000 after acquiring an additional 7,000 shares during the period. Royce & Associates LP purchased a new stake in Carvana in the fourth quarter worth $621,000. Dimensional Fund Advisors LP lifted its stake in Carvana by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 59,299 shares of the company’s stock worth $1,939,000 after acquiring an additional 7,348 shares during the period. Finally, Natixis Advisors L.P. purchased a new stake in Carvana in the fourth quarter worth $356,000. 35.90% of the stock is owned by hedge funds and other institutional investors.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.

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