Carvana (NYSE:CVNA) Now Covered by Analysts at Stephens

Stephens began coverage on shares of Carvana (NYSE:CVNA) in a research report sent to investors on Thursday morning, MarketBeat.com reports. The firm issued an overweight rating and a $190.00 target price on the stock.

Several other brokerages also recently commented on CVNA. Needham & Company LLC increased their price objective on shares of Carvana from $160.00 to $200.00 and gave the company a buy rating in a research note on Thursday, August 1st. BTIG Research increased their price target on Carvana from $155.00 to $188.00 and gave the company a buy rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on Carvana from $75.00 to $110.00 and gave the stock an underweight rating in a research report on Thursday, August 1st. Evercore ISI dropped their target price on Carvana from $150.00 to $142.00 and set an in-line rating for the company in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. boosted their price target on Carvana from $150.00 to $155.00 and gave the stock an overweight rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $151.00.

Carvana Price Performance

Carvana stock opened at $141.90 on Thursday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. Carvana has a 52 week low of $25.09 and a 52 week high of $159.85. The stock has a market capitalization of $29.36 billion, a P/E ratio of 62.24 and a beta of 3.43. The stock has a fifty day moving average of $139.71 and a 200-day moving average of $112.65.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.23 billion. On average, sell-side analysts expect that Carvana will post 0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Ernest C. Garcia II sold 60,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $108.86, for a total value of $6,531,600.00. Following the transaction, the insider now directly owns 1,057,500 shares of the company’s stock, valued at approximately $115,119,450. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Carvana 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 value of $6,531,600.00. Following the completion of the sale, the insider now directly owns 1,057,500 shares in the company, valued at $115,119,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $126.97, for a total transaction of $9,522,750.00. Following the transaction, the insider now owns 787,500 shares in the company, valued at approximately $99,988,875. The disclosure for this sale can be found here. Insiders sold 2,501,866 shares of company stock valued at $340,322,484 over the last quarter. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in shares of Carvana in the 2nd quarter worth about $32,000. Parallel Advisors LLC increased its holdings in Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Summit Securities Group LLC raised its stake in shares of Carvana by 110.0% in the second quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock worth $39,000 after purchasing an additional 3,300 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares in the last quarter. Finally, Tidemark LLC purchased a new position in shares of Carvana during the fourth quarter valued at approximately $50,000. 56.71% of the stock is owned by institutional investors.

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.