Carvana (NYSE:CVNA) Rating Reiterated by Evercore ISI

Evercore ISI reiterated their in-line rating on shares of Carvana (NYSE:CVNA) in a report issued on Thursday, Benzinga reports. Evercore ISI currently has a $178.00 target price on the stock.

Other analysts have also recently issued reports about the company. TD Cowen boosted their price target on Carvana from $110.00 to $148.00 and gave the stock a hold rating in a research report on Thursday, August 1st. BTIG Research increased their target price on shares of Carvana from $155.00 to $188.00 and gave the company a buy rating in a research report on Thursday, August 1st. Wells Fargo & Company upgraded shares of Carvana from an equal weight rating to an overweight rating and boosted their price target for the stock from $77.00 to $175.00 in a research report on Thursday, August 1st. Stephens assumed coverage on shares of Carvana in a report on Thursday, September 12th. They issued an overweight rating and a $190.00 price objective for the company. Finally, DA Davidson boosted their target price on Carvana from $110.00 to $155.00 and gave the stock a neutral rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $155.12.

Carvana Stock Up 0.9 %

Shares of NYSE CVNA opened at $171.22 on Thursday. The firm has a market cap of $34.68 billion, a price-to-earnings ratio of 75.10 and a beta of 3.43. The company’s 50-day simple moving average is $145.89 and its 200-day simple moving average is $117.64. The company has a quick ratio of 2.02, a current ratio of 3.11 and a debt-to-equity ratio of 47.20. Carvana has a 52-week low of $25.09 and a 52-week high of $176.33.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.23 billion. Equities analysts predict that Carvana will post 0.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Mark W. Jenkins sold 55,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $124.08, for a total value of $6,824,400.00. Following the transaction, the chief financial officer now directly owns 186,580 shares in the company, valued at approximately $23,150,846.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Mark W. Jenkins sold 55,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $124.08, for a total value of $6,824,400.00. Following the sale, the chief financial officer now owns 186,580 shares in the company, valued at approximately $23,150,846.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark W. Jenkins sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $146.14, for a total value of $730,700.00. Following the transaction, the chief financial officer now owns 180,609 shares of the company’s stock, valued at $26,394,199.26. The disclosure for this sale can be found here. Insiders sold a total of 2,516,866 shares of company stock valued at $357,094,934 over the last 90 days. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Several large investors have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Carvana during the second quarter worth $37,728,000. Maven Securities LTD purchased a new stake in Carvana during the 2nd quarter worth about $270,000. Senator Investment Group LP acquired a new stake in Carvana in the 2nd quarter valued at about $63,767,000. Sylebra Capital LLC purchased a new position in shares of Carvana in the 2nd quarter valued at about $67,686,000. Finally, Creative Planning grew its position in shares of Carvana by 34.4% during the second quarter. Creative Planning now owns 15,296 shares of the company’s stock worth $1,969,000 after buying an additional 3,913 shares in the last quarter. 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.