Bank of America Issues Positive Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA - Free Report) had its price objective hoisted by Bank of America from $252.00 to $270.00 in a research report released on Friday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on CVNA. Robert W. Baird increased their price target on Carvana from $200.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Wells Fargo & Company dropped their price target on shares of Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Wedbush restated a "neutral" rating and set a $250.00 price objective on shares of Carvana in a research report on Thursday, February 6th. William Blair reiterated an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Finally, JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average price target of $265.06.

Carvana Stock Performance

Shares of NYSE CVNA traded up $5.43 during midday trading on Friday, hitting $221.08. 5,139,031 shares of the company's stock were exchanged, compared to its average volume of 4,161,040. Carvana has a twelve month low of $66.97 and a twelve month high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market cap of $45.90 billion, a P/E ratio of 140.81 and a beta of 3.37. The stock's 50 day moving average price is $233.55 and its 200-day moving average price is $209.42.

Carvana (NYSE:CVNA - Get Free Report) last released its quarterly 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 company had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. Equities research analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total transaction of $2,007,500.00. Following the transaction, the chief financial officer now owns 189,097 shares in the company, valued at approximately $37,961,222.75. This trade represents a 5.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company's stock, valued at $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 173,629 shares of company stock worth $44,833,799 over the last 90 days. 17.18% of the stock is currently owned by corporate insiders.

Institutional Trading of Carvana

A number of institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC grew its position in shares of Carvana by 90.8% in the third quarter. FMR LLC now owns 12,361,790 shares of the company's stock valued at $2,152,311,000 after purchasing an additional 5,882,656 shares during the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Carvana in the third quarter valued at approximately $162,953,000. Norges Bank acquired a new stake in shares of Carvana in the fourth quarter worth $179,364,000. Vanguard Group Inc. raised its stake in Carvana by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company's stock valued at $2,323,463,000 after purchasing an additional 610,234 shares during the last quarter. Finally, Castle Hook Partners LP bought a new stake in Carvana in the 4th quarter valued at $116,020,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.