Carvana (NYSE:CVNA) Price Target Raised to $375.00 at Stephens

Carvana (NYSE:CVNA - Free Report) had its price target upped by Stephens from $300.00 to $375.00 in a report released on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on Carvana from $280.00 to $290.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Wells Fargo & Company increased their price objective on Carvana from $290.00 to $310.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $340.00 price objective on shares of Carvana in a research note on Thursday, May 8th. Robert W. Baird raised their price target on Carvana from $200.00 to $275.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Bank of America increased their price objective on Carvana from $325.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, June 10th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $298.29.

Carvana Trading Down 1.5%

Shares of Carvana stock traded down $5.19 on Monday, reaching $352.13. 420,634 shares of the company's stock were exchanged, compared to its average volume of 3,849,641. The company has a market capitalization of $75.40 billion, a P/E ratio of 123.95, a price-to-earnings-growth ratio of 1.36 and a beta of 3.59. Carvana has a 52 week low of $118.50 and a 52 week high of $363.38. The firm's 50-day moving average is $308.18 and its two-hundred day moving average is $249.42. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81.

Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.75 by $0.76. Carvana had a return on equity of 44.86% and a net margin of 2.68%. The company had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. During the same period last year, the business earned $0.23 EPS. Carvana's quarterly revenue was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Carvana will post 2.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, CFO Mark W. Jenkins sold 12,750 shares of Carvana stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $338.36, for a total value of $4,314,090.00. Following the sale, the chief financial officer owned 211,020 shares of the company's stock, valued at $71,400,727.20. The trade was a 5.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $338.02, for a total value of $3,380,200.00. Following the completion of the sale, the chief operating officer directly owned 126,855 shares in the company, valued at approximately $42,879,527.10. The trade was a 7.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,379,861 shares of company stock worth $443,986,545 over the last quarter. Company insiders own 16.36% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Brooklyn Investment Group grew its stake in Carvana by 961.5% in the 1st quarter. Brooklyn Investment Group now owns 138 shares of the company's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of Carvana during the 4th quarter worth $31,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Carvana during the first quarter valued at $33,000. Transce3nd LLC acquired a new position in Carvana in the 4th quarter worth approximately $48,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Carvana by 251.4% during the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after purchasing an additional 181 shares during the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.