Carvana Co. (NYSE:CVNA) Receives $217.71 Consensus Price Target from Brokerages

Carvana Co. (NYSE:CVNA) has been given a consensus recommendation of “Hold” by the nineteen brokerages that are currently covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $217.71.

A number of equities analysts have recently commented on CVNA shares. Jefferies Financial Group increased their price target on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Bank of America increased their price target on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Needham & Company LLC increased their price target on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, October 31st.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 208,495 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $224.43, for a total value of $46,792,532.85. Following the completion of the transaction, the chief financial officer now directly owns 90,732 shares in the company, valued at $20,362,982.76. This trade represents a 69.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares of the company’s stock, valued at approximately $52,484,640. The trade was a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,527,249 shares of company stock valued at $453,021,322 in the last quarter. Company insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Carvana by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,546 shares of the company’s stock valued at $315,133,000 after purchasing an additional 131,059 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Carvana in the third quarter worth approximately $1,185,000. Abel Hall LLC bought a new stake in shares of Carvana in the third quarter worth approximately $202,000. Luxor Capital Group LP bought a new stake in shares of Carvana in the third quarter worth approximately $5,430,000. Finally, MML Investors Services LLC grew its stake in shares of Carvana by 3.0% in the third quarter. MML Investors Services LLC now owns 4,172 shares of the company’s stock worth $726,000 after acquiring an additional 122 shares during the period. 56.71% of the stock is currently owned by institutional investors.

Carvana Stock Performance

Carvana stock opened at $244.63 on Friday. The firm’s 50 day simple moving average is $194.89 and its 200 day simple moving average is $151.06. 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 firm has a market capitalization of $50.79 billion, a PE ratio of 24,462.50 and a beta of 3.37. Carvana has a 1-year low of $29.84 and a 1-year high of $259.39.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates 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. The business’s revenue was up 31.8% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. As a group, analysts expect that Carvana will post 0.62 earnings per share for the current fiscal year.

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.