Brokerages Set Carvana Co. (NYSE:CVNA) Price Target at $217.71

Carvana Co. (NYSE:CVNA) has been assigned an average recommendation of “Hold” from the nineteen brokerages that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $217.71.

Several analysts have recently commented on CVNA shares. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Citigroup increased their price target on shares of Carvana from $125.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. BTIG Research increased their price target on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada raised shares of Carvana to a “sector perform” rating and increased their price target for the company from $166.00 to $170.00 in a research note on Monday, August 19th. Finally, Morgan Stanley upgraded shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $110.00 to $260.00 in a report on Tuesday, November 5th.

Carvana Price Performance

Shares of Carvana stock opened at $259.31 on Friday. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $53.84 billion, a price-to-earnings ratio of 25,931.00 and a beta of 3.37. Carvana has a 1-year low of $29.84 and a 1-year high of $263.61. The firm’s 50-day moving average price is $203.96 and its two-hundred day moving average price is $154.21.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the company posted $0.23 earnings per share. Carvana’s quarterly revenue was up 31.8% compared to the same quarter last year. On average, equities analysts predict that Carvana will post 0.76 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 3,043 shares of Carvana stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total value of $730,320.00. Following the sale, the chief operating officer now directly owns 218,686 shares in the company, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Daniel J. Gill sold 30,000 shares of Carvana stock in a transaction on Friday, September 20th. The shares were sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the sale, the insider now owns 328,329 shares in the company, valued at $57,457,575. The trade was a 8.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,327,249 shares of company stock valued at $421,876,322 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. FMR LLC increased its stake in shares of Carvana by 90.8% during the 3rd quarter. FMR LLC now owns 12,361,790 shares of the company’s stock worth $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Carvana by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 10,290,551 shares of the company’s stock worth $904,642,000 after purchasing an additional 266,972 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Carvana by 39.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Lingotto Investment Management LLP increased its stake in shares of Carvana by 1.4% during the 2nd quarter. Lingotto Investment Management LLP now owns 3,776,747 shares of the company’s stock worth $486,143,000 after purchasing an additional 52,833 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Carvana by 6.1% during the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock worth $326,893,000 after purchasing an additional 107,610 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.