Citigroup Issues Positive Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price boosted by Citigroup from $277.00 to $320.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $110.00 to $260.00 in a research report on Tuesday, November 5th. William Blair reiterated an “outperform” rating on shares of Carvana in a research report on Thursday. Royal Bank of Canada increased their price objective on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Needham & Company LLC increased their price objective on Carvana from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Trading Down 9.9 %

NYSE:CVNA opened at $223.14 on Friday. The company has a market cap of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37. The stock’s fifty day moving average price is $234.35 and its two-hundred day moving average price is $207.79. Carvana has a 1 year low of $49.38 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. As a group, analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other news, insider Ryan S. Keeton sold 24,845 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the transaction, the insider now directly owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $255.07, for a total value of $2,550,700.00. Following the completion of the sale, the chief financial officer now directly owns 189,761 shares in the company, valued at $48,402,338.27. The trade was a 5.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,629 shares of company stock valued at $44,833,799. 17.12% of the stock is currently owned by insiders.

Institutional Trading of Carvana

Several large investors have recently modified their holdings of the business. Mackenzie Financial Corp bought a new stake in shares of Carvana in the fourth quarter worth about $1,153,000. Toronto Dominion Bank bought a new stake in shares of Carvana in the fourth quarter worth about $3,124,000. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Carvana in the fourth quarter worth about $98,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Carvana by 90.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 415,070 shares of the company’s stock worth $84,409,000 after purchasing an additional 196,776 shares during the last quarter. Finally, USS Investment Management Ltd bought a new stake in shares of Carvana in the fourth quarter worth about $5,065,000. 56.71% of the stock is owned by 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.