Carvana (NYSE:CVNA) Hits New 52-Week High - Still a Buy?

Carvana Co. (NYSE:CVNA - Get Free Report)'s stock price hit a new 52-week high during mid-day 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CVNA shares. JPMorgan Chase & Co. cut their price objective on Carvana from $365.00 to $325.00 and set an "overweight" rating on the stock in a report on Thursday, March 27th. JMP Securities dropped their price target on Carvana from $340.00 to $275.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Stephens restated an "overweight" rating and issued a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Bank of America increased their price target on Carvana from $290.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC restated a "buy" rating and issued a $340.00 target price on shares of Carvana in a research report on Thursday, May 8th. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $275.65.

Carvana Stock Down 0.2%

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 firm has a market cap of $68.43 billion, a price-to-earnings ratio of 203.53 and a beta of 3.61. The firm has a 50-day moving average of $240.94 and a two-hundred day moving average of $234.13.

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, beating the consensus estimate of $0.75 by $0.76. The firm had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $3.94 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company's revenue for the quarter was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. As a group, sell-side analysts predict that Carvana Co. will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, CEO Ernest C. Garcia III sold 10,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $308.55, for a total value of $3,085,500.00. Following the sale, the chief executive officer now owns 810,000 shares of the company's stock, valued at approximately $249,925,500. This represents a 1.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the stock in a transaction that occurred on 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 sale, the chief operating officer now 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 disclosure for this sale can be found here. Insiders sold a total of 630,313 shares of company stock valued at $157,709,272 in the last quarter. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 13.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company's stock worth $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,109,476 shares in the last quarter. Lingotto Investment Management LLP lifted its holdings in shares of 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 purchasing an additional 57,215 shares in the last quarter. Durable Capital Partners LP lifted its holdings in shares of 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 purchasing an additional 129,246 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 75,250 shares in the last quarter. 56.71% of the stock is currently owned by 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.