Carvana (NYSE:CVNA) Reaches New 52-Week High - Should You Buy?

Carvana Co. (NYSE:CVNA - Get Free Report)'s stock price hit a new 52-week high on Monday . The company traded as high as $353.49 and last traded at $352.23, with a volume of 306080 shares. The stock had previously closed at $348.33.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CVNA. Royal Bank Of Canada boosted their price target on shares of Carvana from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. JMP Securities set a $440.00 price target on shares of Carvana and gave the stock a "market outperform" rating in a report on Wednesday, July 2nd. Morgan Stanley upped their price objective on shares of Carvana from $280.00 to $290.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on shares of Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. Finally, Stephens upped their price objective on shares of Carvana from $300.00 to $375.00 and gave the company an "overweight" rating in a report on Monday. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $298.29.

Carvana Price Performance

The company has a quick ratio of 2.70, a current ratio of 3.81 and a debt-to-equity ratio of 2.97. The business's 50-day simple moving average is $308.18 and its 200 day simple moving average is $249.42. The firm has a market capitalization of $74.67 billion, a P/E ratio of 122.33, a PEG ratio of 1.36 and a beta of 3.59.

Carvana (NYSE:CVNA - Get Free Report) last issued 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. The business had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The business's quarterly revenue was up 38.3% on a year-over-year basis. During the same period last year, the business earned $0.23 earnings per share. Sell-side analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Activity

In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of Carvana stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $340.07, for a total value of $17,003,500.00. Following the completion of the transaction, the insider directly owned 36,637,346 shares of the company's stock, valued at approximately $12,459,262,254.22. The trade was a 0.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ernest C. Garcia III sold 5,439 shares of Carvana stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $344.00, for a total transaction of $1,871,016.00. Following the completion of the transaction, the chief executive officer directly owned 691,440 shares of the company's stock, valued at $237,855,360. This trade represents a 0.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,379,861 shares of company stock worth $443,986,545 in the last quarter. Insiders own 16.36% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Amanah Holdings Trust purchased a new position in Carvana in the second quarter worth about $30,703,000. AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Carvana in the first quarter worth approximately $1,448,000. Swedbank AB grew its stake in shares of Carvana by 29.2% in the first quarter. Swedbank AB now owns 69,013 shares of the company's stock worth $14,429,000 after acquiring an additional 15,600 shares during the period. Strs Ohio bought a new stake in shares of Carvana in the first quarter worth approximately $852,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Carvana by 251.4% in the first quarter. Geneos Wealth Management Inc. now owns 253 shares of the company's stock worth $53,000 after acquiring an additional 181 shares during the period. 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.