Analysts Set Carvana Co. (NYSE:CVNA) Price Target at $171.76

Shares of Carvana Co. (NYSE:CVNA) have earned a consensus rating of “Hold” from the nineteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $182.29.

A number of analysts have issued reports on the company. Citigroup lifted their price objective on Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler boosted their price target on shares of Carvana from $105.00 to $151.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Jefferies Financial Group boosted their target price on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Robert W. Baird began coverage on shares of Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 price target for the company.

Carvana Stock Performance

CVNA opened at $202.53 on Tuesday. The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The stock has a market capitalization of $41.03 billion, a price-to-earnings ratio of 88.83 and a beta of 3.44. The company has a fifty day moving average of $167.97 and a 200 day moving average of $133.19. Carvana has a fifty-two week low of $25.09 and a fifty-two week high of $203.72.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 earnings per share for the quarter. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. As a group, sell-side analysts forecast that Carvana will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 5,000 shares of Carvana stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the completion of the sale, the chief financial officer now directly owns 180,609 shares in the company, valued at approximately $26,394,199.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Carvana news, CFO Mark W. Jenkins sold 5,000 shares of the company’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 directly owns 180,609 shares in the company, valued at $26,394,199.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $128.81, for a total value of $9,660,750.00. Following the completion of the sale, the insider now owns 1,715,814 shares of the company’s stock, valued at $221,014,001.34. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,955,891 shares of company stock valued at $489,299,685 in the last quarter. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors have recently made changes to their positions in CVNA. Ridgewood Investments LLC bought a new position in Carvana during the 2nd quarter worth about $32,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of Carvana in the 3rd quarter worth approximately $32,000. Summit Securities Group LLC boosted its stake in shares of Carvana by 110.0% during the second 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 in the last quarter. Fifth Third Bancorp boosted its stake in shares of Carvana by 450.8% during 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, Benjamin F. Edwards & Company Inc. purchased a new position in Carvana during the second quarter valued at approximately $51,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.