Evercore ISI Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price decreased by equities research analysts at Evercore ISI from $250.00 to $240.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “in-line” rating on the stock. Evercore ISI’s target price would indicate a potential upside of 38.00% from the stock’s previous close.

A number of other equities analysts also recently weighed in on CVNA. Wedbush set a $250.00 target price on shares of Carvana and gave the company a “neutral” rating in a research note on Wednesday, February 19th. JMP Securities reiterated a “market outperform” rating and set a $320.00 price objective on shares of Carvana in a research note on Monday, December 16th. Bank of America raised their price target on Carvana from $252.00 to $270.00 and gave the company a “buy” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup lifted their target price on shares of Carvana from $277.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $265.65.

Carvana Stock Up 1.3 %

CVNA traded up $2.31 on Tuesday, hitting $173.92. The company had a trading volume of 2,090,199 shares, compared to its average volume of 3,829,464. Carvana has a 52-week low of $67.61 and a 52-week high of $292.84. The stock has a fifty day simple moving average of $230.63 and a 200-day simple moving average of $213.80. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The firm has a market capitalization of $37.07 billion, a P/E ratio of 111.17 and a beta of 3.56.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.27. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities analysts expect that Carvana will post 2.85 EPS for the current fiscal year.

Insider Activity

In other news, insider Paul W. Breaux sold 1,362 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the transaction, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $247.90, for a total value of $6,159,075.50. Following the transaction, the insider now owns 151,029 shares of the company’s stock, valued at approximately $37,440,089.10. This trade represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 94,629 shares of company stock valued at $24,758,919 in the last 90 days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Sigma Planning Corp purchased a new position in shares of Carvana in the third quarter valued at about $228,000. Axxcess Wealth Management LLC purchased a new position in Carvana in the 3rd quarter worth approximately $784,000. State of New Jersey Common Pension Fund D boosted its stake in Carvana by 5.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 39,281 shares of the company’s stock worth $6,839,000 after purchasing an additional 2,004 shares during the period. Entropy Technologies LP lifted its holdings in shares of Carvana by 428.5% in the third quarter. Entropy Technologies LP now owns 23,541 shares of the company’s stock worth $4,099,000 after buying an additional 19,087 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Carvana during the third quarter worth $439,000. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.