Carvana (NYSE:CVNA) Stock Rating Lowered by Cowen

Cowen downgraded shares of Carvana (NYSE:CVNAGet Rating) from an outperform rating to a market perform rating in a research report report published on Monday morning, MarketBeat Ratings reports.

CVNA has been the topic of several other research reports. JPMorgan Chase & Co. upgraded Carvana from an underweight rating to a neutral rating and set a $20.00 price target on the stock in a research note on Tuesday, November 1st. DA Davidson cut their price target on Carvana from $49.00 to $42.00 in a research note on Monday, August 8th. Morgan Stanley cut their price target on Carvana from $75.00 to $68.00 and set an equal weight rating on the stock in a research note on Tuesday, October 11th. Cowen downgraded Carvana from an outperform rating to a market perform rating in a research note on Monday. Finally, Wells Fargo & Company cut their target price on Carvana from $30.00 to $25.00 and set an equal weight rating on the stock in a research note on Friday, November 4th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of Hold and an average price target of $47.00.

Carvana Stock Up 19.4 %

Shares of NYSE:CVNA opened at $8.12 on Monday. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The firm has a market capitalization of $1.53 billion, a P/E ratio of -0.91 and a beta of 2.48. The stock has a 50 day moving average price of $16.70 and a 200-day moving average price of $26.43. Carvana has a 52-week low of $6.50 and a 52-week high of $296.70.

Carvana (NYSE:CVNAGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($2.67) earnings per share for the quarter, missing the consensus estimate of ($2.02) by ($0.65). The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Carvana had a negative return on equity of 191.74% and a negative net margin of 5.99%. As a group, equities research analysts anticipate that Carvana will post -9.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Daniel J. Gill purchased 133,000 shares of the stock in a transaction dated Monday, November 21st. The shares were purchased at an average cost of $7.62 per share, with a total value of $1,013,460.00. Following the acquisition, the insider now directly owns 263,415 shares of the company’s stock, valued at $2,007,222.30. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Gregory B. Sullivan bought 8,000 shares of the firm’s stock in a transaction that occurred on Monday, November 14th. The shares were bought at an average cost of $10.00 per share, with a total value of $80,000.00. Following the acquisition, the director now owns 17,392 shares in the company, valued at $173,920. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel J. Gill bought 133,000 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was bought at an average cost of $7.62 per share, for a total transaction of $1,013,460.00. Following the completion of the acquisition, the insider now owns 263,415 shares in the company, valued at approximately $2,007,222.30. The disclosure for this purchase can be found here. Insiders have bought 251,000 shares of company stock valued at $2,065,760 in the last ninety days. 10.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carvana

A number of institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD raised its holdings in Carvana by 49.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,100,843 shares of the company’s stock worth $453,877,000 after purchasing an additional 6,670,993 shares during the period. Baillie Gifford & Co. raised its holdings in Carvana by 29.7% during the third quarter. Baillie Gifford & Co. now owns 14,144,058 shares of the company’s stock valued at $287,125,000 after acquiring an additional 3,242,429 shares during the period. Vanguard Group Inc. raised its holdings in Carvana by 46.8% during the first quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after acquiring an additional 2,325,545 shares during the period. Tiger Global Management LLC raised its holdings in Carvana by 17.5% during the first quarter. Tiger Global Management LLC now owns 8,531,177 shares of the company’s stock valued at $1,017,684,000 after acquiring an additional 1,268,272 shares during the period. Finally, Spruce House Investment Management LLC raised its holdings in Carvana by 33.3% during the first quarter. Spruce House Investment Management LLC now owns 5,000,000 shares of the company’s stock valued at $596,450,000 after acquiring an additional 1,250,000 shares during the period.

About Carvana

(Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's platform allows customers to research and identify a vehicle; inspect it using company's 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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