Carvana (NYSE:CVNA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Carvana (NYSE:CVNA) had its target price hoisted by analysts at Robert W. Baird from $160.00 to $240.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential upside of 15.75% from the company’s current price.

A number of other equities analysts also recently commented on the stock. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and raised their target price for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Evercore ISI raised their target price on shares of Carvana from $186.00 to $190.00 and gave the company an “in-line” rating in a research note on Wednesday. BTIG Research lifted their price target on shares of Carvana from $155.00 to $188.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stephens started coverage on shares of Carvana in a research note on Thursday, September 12th. They set an “overweight” rating and a $190.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Carvana from $185.00 to $230.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $187.47.

Carvana Stock Performance

Shares of CVNA stock opened at $207.34 on Thursday. The company’s fifty day simple moving average is $171.06 and its 200-day simple moving average is $135.88. Carvana has a 52 week low of $25.09 and a 52 week high of $213.98. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20. The company has a market cap of $42.00 billion, a PE ratio of 90.94 and a beta of 3.44.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the business posted $0.23 EPS. The business’s revenue was up 31.8% on a year-over-year basis. As a group, equities research analysts anticipate that Carvana will post 0.29 EPS for the current year.

Insider Transactions at Carvana

In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of Carvana stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the completion of the transaction, the insider now directly owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Ernest C. Garcia II sold 15,814 shares of Carvana stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $201.16, for a total value of $3,181,144.24. Following the completion of the transaction, the insider now directly owns 37,442,317 shares of the company’s stock, valued at approximately $7,531,896,487.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at $4,534,050. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,780,891 shares of company stock valued at $465,902,485. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ridgewood Investments LLC acquired a new position in Carvana during the 2nd quarter valued at about $32,000. Sugarloaf Wealth Management LLC acquired a new position in Carvana during the 3rd quarter valued at about $32,000. Summit Securities Group LLC boosted its stake in Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 3,300 shares during the period. Fifth Third Bancorp boosted its stake in Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the period. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Carvana during the 2nd quarter valued at about $51,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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 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.