Stephens Reaffirms Overweight Rating for Carvana (NYSE:CVNA)

Stephens reaffirmed their overweight rating on shares of Carvana (NYSE:CVNA) in a research note published on Monday, MarketBeat.com reports. They currently have a $300.00 target price on the stock.

Several other research analysts have also commented on the stock. Robert W. Baird boosted their price objective on shares of Carvana from $200.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Citigroup upped their price target on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, February 21st. DA Davidson upped their price target 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. William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Finally, Evercore ISI upped their price target on shares of Carvana from $240.00 to $245.00 and gave the company an “in-line” rating in a research note on Tuesday, December 3rd. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $265.06.

Carvana Trading Up 0.5 %

NYSE CVNA opened at $216.25 on Monday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The firm has a market cap of $46.10 billion, a PE ratio of 137.74 and a beta of 3.56. The company has a 50 day moving average price of $232.84 and a 200 day moving average price of $212.80. Carvana has a 52 week low of $67.61 and a 52 week high of $292.84.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. As a group, sell-side analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira J. Platt sold 25,000 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $244.30, for a total transaction of $6,107,500.00. Following the sale, the director now directly owns 5,227 shares of the company’s stock, valued at approximately $1,276,956.10. This represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the sale, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,629 shares of company stock valued at $30,866,419. Corporate insiders own 17.18% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC lifted its holdings in Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock valued at $313,000 after purchasing an additional 51 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Carvana by 2.8% during the fourth quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company’s stock valued at $483,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Carvana by 21.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after purchasing an additional 74 shares in the last quarter. Forum Financial Management LP lifted its holdings in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock valued at $361,000 after purchasing an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its holdings in Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock valued at $752,000 after purchasing an additional 77 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.