Carvana (NYSE:CVNA) Price Target Raised to $157.00

Carvana (NYSE:CVNA) had its price objective boosted by stock analysts at Evercore ISI from $142.00 to $157.00 in a report released on Monday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective points to a potential upside of 10.64% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Wedbush raised Carvana to a “neutral” rating and raised their target price for the company from $120.00 to $150.00 in a research report on Monday, August 19th. BTIG Research raised their price objective on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $200.00 target price on shares of Carvana in a research note on Monday, September 9th. Needham & Company LLC increased their target price on shares of Carvana from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird assumed coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $151.94.

Carvana Stock Up 1.0 %

Carvana stock opened at $141.90 on Monday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a market cap of $29.36 billion, a PE ratio of 62.24 and a beta of 3.43. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $159.85. The firm’s 50-day simple moving average is $139.71 and its 200 day simple moving average is $112.65.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Research analysts predict that Carvana will post 0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of Carvana stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the completion of the sale, the insider now owns 1,057,500 shares in the company, valued at approximately $115,119,450. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $108.86, for a total transaction of $6,531,600.00. Following the sale, the insider now owns 1,057,500 shares in the company, valued at approximately $115,119,450. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the completion of the transaction, the insider now owns 787,500 shares of the company’s stock, valued at $99,988,875. The disclosure for this sale can be found here. Insiders have sold 2,501,866 shares of company stock worth $340,322,484 in the last ninety days. 17.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Carvana

A number of large investors have recently modified their holdings of the company. Maven Securities LTD bought a new position in Carvana during the second quarter valued at approximately $270,000. Senator Investment Group LP bought a new position in shares of Carvana during the 2nd quarter valued at $63,767,000. Sylebra Capital LLC purchased a new position in Carvana in the 2nd quarter worth $67,686,000. Creative Planning lifted its stake in Carvana by 34.4% in the second quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after purchasing an additional 3,913 shares during the last quarter. Finally, Algert Global LLC boosted its position in Carvana by 135.8% during the second quarter. Algert Global LLC now owns 64,095 shares of the company’s stock valued at $8,250,000 after buying an additional 36,915 shares during the period. 56.71% of the stock is owned by hedge funds and other 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 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.