Carvana (NYSE:CVNA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Carvana (NYSE:CVNA - Get Free Report) had its price target increased by equities research analysts at Evercore ISI from $290.00 to $295.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's price objective would suggest a potential upside of 0.60% from the company's previous close.

Other analysts also recently issued research reports about the stock. Citigroup raised their price target on shares of Carvana from $280.00 to $325.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Bank of America increased their target price on shares of Carvana from $325.00 to $375.00 and gave the company a "buy" rating in a research report on Tuesday, June 10th. JMP Securities reduced their price objective 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. Royal Bank of Canada boosted their price target on shares of Carvana from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, DA Davidson raised their target price on shares of Carvana from $220.00 to $260.00 and gave the company a "neutral" rating in a research note on Thursday, February 20th. 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, Carvana currently has a consensus rating of "Moderate Buy" and an average target price of $283.59.

Carvana Stock Performance

Shares of NYSE:CVNA traded up $3.19 during midday trading on Tuesday, hitting $293.24. The stock had a trading volume of 1,834,252 shares, compared to its average volume of 3,932,559. Carvana has a 1 year low of $100.05 and a 1 year high of $351.43. The stock has a 50 day moving average price of $275.19 and a two-hundred day moving average price of $241.06. The company has a market capitalization of $62.79 billion, a PE ratio of 187.31 and a beta of 3.65. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82.

Carvana (NYSE:CVNA - Get Free Report) last announced its 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 firm had revenue of $4.23 billion for 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%. Carvana's quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, equities analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of Carvana stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $210.35, for a total value of $10,517,500.00. Following the completion of the transaction, the chief operating officer now directly owns 146,278 shares of the company's stock, valued at approximately $30,769,577.30. The trade was a 25.47% 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 10,000 shares of Carvana stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $303.97, for a total transaction of $3,039,700.00. Following the completion of the sale, the chief executive officer now directly owns 845,000 shares of the company's stock, valued at approximately $256,854,650. This trade represents a 1.17% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,336,046 shares of company stock valued at $401,789,783 over the last ninety days. Company insiders own 17.12% of the company's stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CVNA. Strs Ohio bought a new position in Carvana in the 1st quarter worth approximately $852,000. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 181 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Carvana by 0.6% in the first quarter. IFM Investors Pty Ltd now owns 21,061 shares of the company's stock worth $4,403,000 after buying an additional 135 shares in the last quarter. Bayforest Capital Ltd boosted its stake in Carvana by 41.5% during the first quarter. Bayforest Capital Ltd now owns 1,773 shares of the company's stock valued at $371,000 after buying an additional 520 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Carvana by 27.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 529,596 shares of the company's stock valued at $110,728,000 after buying an additional 114,526 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.

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