Carvana Co. (NYSE:CVNA) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Carvana Co. (NYSE:CVNA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $275.65.

A number of research analysts have weighed in on the company. Evercore ISI lowered their target price on Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a report on Tuesday, March 11th. Wells Fargo & Company raised their price target on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley raised their price target on Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Stephens reaffirmed an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a research note on Monday, March 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th.

Insider Activity

In other news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction on Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at approximately $35,033,660.22. This trade represents a 20.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 27,593 shares of Carvana stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $225.03, for a total value of $6,209,252.79. Following the completion of the transaction, the insider now owns 179,673 shares in the company, valued at $40,431,815.19. This represents a 13.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,016,196 shares of company stock worth $284,029,665. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new position in shares of Carvana in the 1st quarter valued at $852,000. Geneos Wealth Management Inc. increased its holdings in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock valued at $53,000 after acquiring an additional 181 shares during the period. IFM Investors Pty Ltd increased its holdings in shares of Carvana by 0.6% in the 1st quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock valued at $4,403,000 after acquiring an additional 135 shares during the period. Bayforest Capital Ltd grew its stake in Carvana by 41.5% during the 1st quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock worth $371,000 after buying an additional 520 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Carvana by 27.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock worth $110,728,000 after buying an additional 114,526 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Stock Down 0.6%

CVNA stock traded down $2.06 during midday trading on Wednesday, hitting $343.58. The stock had a trading volume of 3,932,092 shares, compared to its average volume of 3,963,529. The firm has a market cap of $73.58 billion, a price-to-earnings ratio of 218.84 and a beta of 3.61. The business has a 50-day moving average of $253.22 and a two-hundred day moving average of $237.20. Carvana has a 52-week low of $100.05 and a 52-week high of $348.47. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the firm earned $0.23 earnings per share. The firm's revenue for the quarter was up 38.3% on a year-over-year basis. As a group, equities research analysts forecast that Carvana will post 2.85 earnings per share for the current fiscal year.

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.