Robert W. Baird Has Lowered Expectations for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its price target lowered by Robert W. Baird from $250.00 to $200.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently issued reports on the company. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of Carvana in a research note on Monday, March 3rd. Wedbush set a $250.00 target price on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. cut their target price on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Royal Bank of Canada boosted their price target on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday, February 20th. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research report on Thursday, February 20th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $258.59.

Carvana Stock Performance

CVNA opened at $162.54 on Friday. The firm has a market cap of $34.65 billion, a P/E ratio of 103.53 and a beta of 3.61. Carvana has a 1-year low of $67.61 and a 1-year high of $292.84. The company has a 50 day simple moving average of $223.47 and a two-hundred day simple moving average of $218.92. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

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

Insiders Place Their Bets

In other news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the completion of the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $55,016,895.44. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 280,810 shares of company stock valued at $61,698,820 over the last 90 days. Insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Carvana by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 11,425,367 shares of the company’s stock worth $2,323,463,000 after buying an additional 610,234 shares during the period. Lingotto Investment Management LLP lifted its stake in Carvana by 1.5% in the fourth quarter. Lingotto Investment Management LLP now owns 3,987,150 shares of the company’s stock worth $810,827,000 after acquiring an additional 57,215 shares during the period. Durable Capital Partners LP grew its holdings in Carvana by 6.3% during the 4th quarter. Durable Capital Partners LP now owns 2,168,232 shares of the company’s stock worth $440,932,000 after acquiring an additional 129,246 shares in the last quarter. Geode Capital Management LLC increased its position in Carvana by 4.2% during the 4th 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 during the period. Finally, State Street Corp raised its holdings in shares of Carvana by 6.1% in the 3rd quarter. State Street Corp now owns 1,877,511 shares of the company’s stock valued at $326,893,000 after purchasing an additional 107,610 shares in the last quarter. 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.