Carvana Co. (NYSE:CVNA) Receives $37.27 Average PT from Brokerages

Shares of Carvana Co. (NYSE:CVNAGet Free Report) have been assigned an average recommendation of “Reduce” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $37.27.

A number of research analysts have weighed in on the company. BNP Paribas downgraded Carvana from an “outperform” rating to a “neutral” rating and set a $37.00 price target for the company. in a research note on Thursday, October 12th. Royal Bank of Canada reaffirmed an “underperform” rating and set a $24.00 price target on shares of Carvana in a research report on Friday, December 1st. Morgan Stanley cut their target price on shares of Carvana from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, November 17th. Wedbush reissued a “neutral” rating and set a $40.00 price target on shares of Carvana in a research report on Friday, December 1st. Finally, William Blair reaffirmed a “market perform” rating on shares of Carvana in a research report on Friday, November 17th.

Read Our Latest Stock Analysis on CVNA

Insider Activity at Carvana

In related news, VP Stephen R. Palmer sold 4,515 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $49.57, for a total transaction of $223,808.55. Following the completion of the sale, the vice president now owns 69,108 shares of the company’s stock, valued at $3,425,683.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Carvana news, VP Stephen R. Palmer sold 4,515 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $49.57, for a total value of $223,808.55. Following the completion of the transaction, the vice president now owns 69,108 shares of the company’s stock, valued at approximately $3,425,683.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Paul W. Breaux sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $59.00, for a total transaction of $1,180,000.00. Following the sale, the insider now directly owns 144,819 shares in the company, valued at approximately $8,544,321. The disclosure for this sale can be found here. 17.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in the stock. Tudor Investment Corp Et Al purchased a new stake in Carvana during the second quarter valued at $11,071,000. TD Asset Management Inc purchased a new position in shares of Carvana in the third quarter worth approximately $22,906,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Carvana by 75.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 497,710 shares of the company’s stock worth $12,901,000 after buying an additional 214,600 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Carvana by 59.8% during the third quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock valued at $113,000 after buying an additional 1,006 shares during the period. Finally, Strs Ohio purchased a new stake in Carvana during the second quarter valued at approximately $103,000. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Price Performance

Shares of CVNA stock opened at $41.00 on Friday. The stock has a market cap of $8.19 billion, a PE ratio of -6.75 and a beta of 3.14. The stock has a 50-day moving average of $43.83 and a 200-day moving average of $41.43. Carvana has a one year low of $6.15 and a one year high of $62.59.

Carvana (NYSE:CVNAGet Free Report) last posted its earnings results on Thursday, November 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.85) by $1.08. The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.74 billion. As a group, research analysts anticipate that Carvana will post -2.66 earnings per share for the current year.

About Carvana

(Get Free Report

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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Analyst Recommendations for Carvana (NYSE:CVNA)

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