Carvana (NYSE:CVNA) Receives Overweight Rating from Stephens

Carvana (NYSE:CVNA)‘s stock had its “overweight” rating restated by analysts at Stephens in a report issued on Thursday,Benzinga reports. They presently have a $300.00 price target on the stock. Stephens’ target price would indicate a potential upside of 47.52% from the company’s previous close.

Several other equities research analysts have also weighed in on CVNA. Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Robert W. Baird boosted their target price on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Bank of America increased their target price on shares of Carvana from $185.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on shares of Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Eleven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus price target of $229.18.

Carvana Stock Performance

CVNA opened at $203.36 on Thursday. The stock has a market cap of $42.22 billion, a PE ratio of 20,356.36 and a beta of 3.32. Carvana has a 1 year low of $40.21 and a 1 year high of $268.34. The stock’s 50 day simple moving average is $237.19 and its 200-day simple moving average is $179.84. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to analyst estimates of $3.47 billion. The company’s quarterly revenue was up 31.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. Sell-side analysts forecast that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling

In other Carvana news, insider Daniel J. Gill sold 44,000 shares of Carvana stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the completion of the sale, the insider now owns 191,225 shares of the company’s stock, valued at approximately $49,617,150.75. The trade was a 18.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 3,043 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.00, for a total transaction of $730,320.00. Following the sale, the chief operating officer now owns 218,686 shares of the company’s stock, valued at $52,484,640. The trade was a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,341,908 shares of company stock worth $271,841,785 over the last three months. 17.18% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sugarloaf Wealth Management LLC acquired a new position in shares of Carvana during the 3rd quarter worth about $32,000. Capital Performance Advisors LLP bought a new position in Carvana during the 3rd quarter worth approximately $40,000. First Horizon Advisors Inc. grew its holdings in Carvana by 363.0% during the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock valued at $44,000 after purchasing an additional 196 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Carvana in the second quarter valued at approximately $51,000. Finally, Quest Partners LLC raised its holdings in Carvana by 738.7% in the second quarter. Quest Partners LLC now owns 780 shares of the company’s stock worth $100,000 after purchasing an additional 687 shares during the period. 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.