Carvana Co (NYSE:CVNA) Receives Average Rating of “Hold” from Brokerages

Shares of Carvana Co (NYSE:CVNA) have received an average rating of “Hold” from the seventeen research firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $82.31.

Several research analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Carvana in a research note on Thursday, September 19th. They set an “outperform” rating and a $95.00 price objective on the stock. JPMorgan Chase & Co. began coverage on shares of Carvana in a research report on Thursday, September 26th. They issued a “neutral” rating and a $75.00 price objective for the company. ValuEngine lowered Carvana from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Needham & Company LLC started coverage on Carvana in a research note on Thursday, September 12th. They set a “buy” rating and a $105.00 target price for the company. Finally, Morgan Stanley restated an “underweight” rating and set a $30.00 target price (up from $29.00) on shares of Carvana in a report on Tuesday, October 15th.

Shares of NYSE CVNA traded up $2.67 during mid-day trading on Friday, hitting $94.75. The company’s stock had a trading volume of 1,033,587 shares, compared to its average volume of 1,668,567. The company has a debt-to-equity ratio of 2.78, a current ratio of 2.16 and a quick ratio of 0.92. The stock has a market cap of $13.92 billion, a price-to-earnings ratio of -54.77 and a beta of 2.21. The company’s fifty day simple moving average is $84.68 and its 200-day simple moving average is $72.99. Carvana has a one year low of $28.44 and a one year high of $96.44.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.17). Carvana had a negative net margin of 3.59% and a negative return on equity of 57.46%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $997.46 million. During the same period in the previous year, the business posted ($0.40) earnings per share. Carvana’s revenue was up 104.7% compared to the same quarter last year. On average, sell-side analysts predict that Carvana will post -2.14 EPS for the current year.

In related news, COO Benjamin E. Huston sold 23,199 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $90.04, for a total value of $2,088,837.96. Following the completion of the sale, the chief operating officer now directly owns 11,728 shares in the company, valued at approximately $1,055,989.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira J. Platt sold 734 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $87.50, for a total value of $64,225.00. Following the completion of the transaction, the director now directly owns 23,115 shares in the company, valued at $2,022,562.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,931 shares of company stock worth $7,115,282. Company insiders own 13.02% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Gilder Gagnon Howe & Co. LLC increased its stake in Carvana by 202.8% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 872,918 shares of the company’s stock worth $57,613,000 after acquiring an additional 584,622 shares during the period. JS Capital Management LLC grew its holdings in shares of Carvana by 64.3% during the 3rd quarter. JS Capital Management LLC now owns 402,649 shares of the company’s stock worth $26,575,000 after purchasing an additional 157,649 shares in the last quarter. Lansing Management LP grew its holdings in shares of Carvana by 20.0% during the 3rd quarter. Lansing Management LP now owns 221,140 shares of the company’s stock worth $14,595,000 after purchasing an additional 36,900 shares in the last quarter. Squarepoint Ops LLC increased its position in shares of Carvana by 96.1% in the third quarter. Squarepoint Ops LLC now owns 64,236 shares of the company’s stock worth $4,240,000 after purchasing an additional 31,487 shares during the period. Finally, Voloridge Investment Management LLC bought a new position in shares of Carvana in the third quarter worth $5,829,000. 41.49% of the stock is currently owned by institutional investors.

Carvana Company Profile

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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Analyst Recommendations for Carvana (NYSE:CVNA)

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