Carvana’s (CVNA) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Carvana (NYSE:CVNA) in a research report sent to investors on Thursday morning,Benzinga reports. Stephens currently has a $300.00 price objective on the stock.

Several other analysts have also issued reports on the company. Jefferies Financial Group boosted their price target on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of Carvana from $230.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Piper Sandler upped their price target on shares of Carvana from $151.00 to $225.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Evercore ISI raised their price objective on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research report on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $229.18.

Carvana Price Performance

Shares of NYSE:CVNA opened at $177.16 on Thursday. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $36.78 billion, a PE ratio of 17,733.73 and a beta of 3.32. The firm’s 50 day moving average price is $236.67 and its 200-day moving average price is $180.94. Carvana has a twelve month low of $40.21 and a twelve month high of $268.34.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.41. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. The firm’s revenue was up 31.8% on a year-over-year basis. Equities research analysts expect that Carvana will post 0.76 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, insider Paul W. Breaux sold 14,548 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the sale, the insider now owns 119,494 shares in the company, valued at approximately $23,659,812. This represents a 10.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $190.70, for a total value of $19,070,000.00. Following the completion of the sale, the insider now owns 38,458,131 shares of the company’s stock, valued at approximately $7,333,965,581.70. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,251,908 shares of company stock worth $255,943,285 over the last 90 days. 17.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sugarloaf Wealth Management LLC bought a new position in Carvana during the 3rd quarter valued at about $32,000. Versant Capital Management Inc purchased a new position in shares of Carvana during the fourth quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in shares of Carvana during the third quarter valued at approximately $40,000. First Horizon Advisors Inc. raised its holdings in shares of Carvana by 363.0% in the third quarter. First Horizon Advisors Inc. now owns 250 shares of the company’s stock worth $44,000 after buying an additional 196 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Carvana during the 2nd quarter worth approximately $51,000. 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.