Carvana Co. (NYSE:CVNA) Receives $404.94 Consensus Target Price from Brokerages

Carvana Co. (NYSE:CVNA) has been given a consensus recommendation of “Moderate Buy” by the twenty-one analysts that are currently covering the firm, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $407.4444.

A number of equities research analysts have commented on CVNA shares. JPMorgan Chase & Co. increased their price target on Carvana from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, September 17th. BTIG Research reiterated a “buy” rating and issued a $450.00 price target on shares of Carvana in a research note on Friday. Citigroup reiterated a “buy” rating on shares of Carvana in a research note on Thursday. William Blair restated an “outperform” rating on shares of Carvana in a research note on Wednesday, July 23rd. Finally, DA Davidson raised their price objective on Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st.

Carvana Price Performance

Shares of CVNA stock opened at $330.58 on Tuesday. Carvana has a 1-year low of $148.25 and a 1-year high of $413.33. The stock’s 50-day moving average is $365.17 and its 200 day moving average is $315.32. The company has a market cap of $71.14 billion, a P/E ratio of 82.85, a PEG ratio of 1.08 and a beta of 3.55. The company has a debt-to-equity ratio of 2.51, a current ratio of 4.00 and a quick ratio of 2.58.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The company had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same quarter last year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 41.9% compared to the same quarter last year. Research analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In related news, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $398.91, for a total transaction of $31,912,800.00. Following the completion of the transaction, the insider directly owned 197,832 shares in the company, valued at approximately $78,917,163.12. This trade represents a 28.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Ernest C. Garcia II sold 93,376 shares of Carvana stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $394.16, for a total value of $36,805,084.16. Following the transaction, the insider owned 6,624 shares of the company’s stock, valued at approximately $2,610,915.84. This represents a 93.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,996,820 shares of company stock worth $719,703,146. 17.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CVNA. Hilltop National Bank purchased a new position in Carvana during the second quarter valued at approximately $25,000. Brooklyn Investment Group raised its position in Carvana by 961.5% during the first quarter. Brooklyn Investment Group now owns 138 shares of the company’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in Carvana in the first quarter valued at approximately $33,000. SJS Investment Consulting Inc. grew its holdings in Carvana by 960.0% in the second quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in Carvana in the second quarter valued at approximately $38,000. 56.71% of the stock is currently 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.