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

Carvana Co. (NYSE:CVNA - Get Free Report) has received an average recommendation of "Moderate Buy" from the eighteen research firms that are presently covering the company, MarketBeat.com reports. Six investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $383.4706.

A number of research analysts recently issued reports on CVNA shares. Wedbush upgraded Carvana to a "hold" rating in a research note on Thursday, May 8th. DA Davidson increased their price target on shares of Carvana from $260.00 to $380.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. JMP Securities upped their target price on shares of Carvana from $440.00 to $460.00 and gave the company a "market outperform" rating in a report on Thursday, July 31st. Wells Fargo & Company raised their price target on Carvana from $390.00 to $425.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC increased their price objective on Carvana from $340.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st.

Carvana Trading Up 0.5%

NYSE:CVNA traded up $1.6870 during trading hours on Monday, reaching $340.2970. 997,608 shares of the stock were exchanged, compared to its average volume of 4,134,280. The business has a 50-day moving average of $338.48 and a two-hundred day moving average of $277.57. Carvana has a twelve month low of $124.39 and a twelve month high of $413.33. The company has a market capitalization of $73.23 billion, a price-to-earnings ratio of 85.31, a PEG ratio of 1.14 and a beta of 3.57. The company has a quick ratio of 2.58, a current ratio of 4.00 and a debt-to-equity ratio of 2.51.

Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a net margin of 3.46% and a return on equity of 40.57%. The business had revenue of $4.84 billion for the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter in the prior year, the company earned ($0.05) earnings per share. The business's quarterly revenue was up 41.9% on a year-over-year basis. On average, equities analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Activity

In other Carvana news, CEO Ernest C. Garcia III sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $347.99, for a total value of $3,479,900.00. Following the sale, the chief executive officer directly owned 531,440 shares in the company, valued at approximately $184,935,805.60. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 95,087 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $349.09, for a total transaction of $33,193,920.83. Following the sale, the insider directly owned 34,442,317 shares of the company's stock, valued at approximately $12,023,468,441.53. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,036,140 shares of company stock valued at $1,057,170,571. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hilltop National Bank acquired a new stake in Carvana in the 2nd quarter worth $25,000. Brooklyn Investment Group grew its stake in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Carvana during the first quarter worth approximately $33,000. SJS Investment Consulting Inc. raised its stake in shares of Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company's stock valued at $36,000 after acquiring an additional 96 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Carvana in the 2nd quarter worth approximately $38,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.