Carvana (NYSE:CVNA) Upgraded to Hold at Wedbush

Wedbush upgraded shares of Carvana (NYSE:CVNA - Free Report) to a hold rating in a research note released on Thursday morning,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. JMP Securities decreased their target price on Carvana from $340.00 to $275.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Stephens restated an "overweight" rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. JPMorgan Chase & Co. cut 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. Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $275.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, William Blair reiterated an "outperform" rating on shares of Carvana in a report on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Carvana presently has an average rating of "Moderate Buy" and a consensus price target of $268.59.

Carvana Stock Up 4.3%

CVNA traded up $12.13 during trading on Thursday, reaching $291.75. 1,222,520 shares of the stock traded hands, compared to its average volume of 4,679,527. Carvana has a fifty-two week low of $97.55 and a fifty-two week high of $293.62. The stock's 50-day simple moving average is $211.21 and its two-hundred day simple moving average is $227.94. The stock has a market cap of $62.19 billion, a price-to-earnings ratio of 185.83 and a beta of 3.61. 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 announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.51 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.94 billion. During the same period in the prior year, the business posted $0.23 EPS. Carvana's revenue was up 38.3% on a year-over-year basis. As a group, equities research analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $150.90, for a total value of $7,545,000.00. Following the completion of the sale, the chief operating officer now directly owns 123,803 shares in the company, valued at approximately $18,681,872.70. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas Taira sold 27,593 shares of the firm's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $225.03, for a total transaction of $6,209,252.79. Following the transaction, the insider now directly owns 179,673 shares of the company's stock, valued at approximately $40,431,815.19. This trade represents a 13.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 441,353 shares of company stock valued at $99,768,424. Company insiders own 17.12% of the company's stock.

Institutional Investors Weigh In On Carvana

Large investors have recently modified their holdings of the business. Quent Capital LLC purchased a new position in Carvana during the fourth quarter worth about $28,000. Global Retirement Partners LLC lifted its holdings in shares of Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company's stock valued at $30,000 after purchasing an additional 78 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in Carvana during the 4th quarter worth approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in shares of Carvana in the 1st quarter valued at $33,000. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Carvana in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 56.71% of the company's stock.

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.