Carvana (NYSE:CVNA) Reaches New 12-Month High - Time to Buy?

Carvana Co. (NYSE:CVNA - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $312.75 and last traded at $310.69, with a volume of 644802 shares traded. The stock had previously closed at $304.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CVNA. Bank of America raised their price objective on shares of Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. 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 research note on Thursday, March 27th. Citigroup lifted their price target on shares of Carvana from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research note on Tuesday, March 11th. Finally, Wedbush raised shares of Carvana to a "hold" rating in a research note on Thursday, May 8th. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $275.65.

Carvana Stock Up 2.3%

The business has a fifty day simple moving average of $245.17 and a two-hundred day simple moving average of $235.17. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The company has a market cap of $70.01 billion, a PE ratio of 208.22 and a beta of 3.61.

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

Insider Activity

In other Carvana news, CEO Ernest C. Garcia III sold 3,086 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $324.54, for a total value of $1,001,530.44. Following the transaction, the chief executive officer now owns 795,000 shares of the company's stock, valued at $258,009,300. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Benjamin E. Huston sold 50,000 shares of the company's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the completion of the transaction, the chief operating officer now directly owns 196,278 shares in the company, valued at $35,033,660.22. The trade was a 20.30% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 702,813 shares of company stock valued at $180,971,479. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock valued at $3,125,749,000 after buying an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its position in Carvana by 9.7% in the first quarter. Vanguard Group Inc. now owns 12,534,843 shares of the company's stock valued at $2,620,785,000 after buying an additional 1,109,476 shares during the last quarter. Lingotto Investment Management LLP lifted its position in Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company's stock valued at $810,827,000 after buying an additional 57,215 shares during the last quarter. Durable Capital Partners LP lifted its position in Carvana by 6.3% in the fourth quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company's stock valued at $440,932,000 after buying an additional 129,246 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Carvana by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,878,796 shares of the company's stock valued at $381,592,000 after buying an additional 75,250 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company's stock.

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.