Brokerages expect Carvana Co (NYSE:CVNA) to report $596.22 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Carvana’s earnings, with estimates ranging from $563.19 million to $618.60 million. Carvana posted sales of $265.05 million during the same quarter last year, which suggests a positive year-over-year growth rate of 124.9%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 27th.
According to Zacks, analysts expect that Carvana will report full year sales of $1.97 billion for the current year, with estimates ranging from $1.93 billion to $1.99 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.44 billion, with estimates ranging from $2.75 billion to $3.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Carvana.
Several equities research analysts have recently commented on CVNA shares. Barrington Research restated a “buy” rating on shares of Carvana in a research note on Monday, November 5th. Zacks Investment Research cut Carvana from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. JMP Securities upped their price target on Carvana from $63.00 to $64.00 and gave the stock a “market outperform” rating in a research note on Tuesday, November 13th. Robert W. Baird upped their price target on Carvana from $60.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday, November 8th. Finally, Morgan Stanley started coverage on Carvana in a research note on Monday, January 14th. They set an “underweight” rating and a $23.00 price target for the company. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Carvana presently has a consensus rating of “Hold” and an average target price of $56.36.
Shares of Carvana stock traded down $1.37 during trading hours on Thursday, hitting $34.77. 1,164,822 shares of the company were exchanged, compared to its average volume of 1,823,215. Carvana has a 1 year low of $16.02 and a 1 year high of $72.59. The company has a debt-to-equity ratio of 1.55, a current ratio of 2.04 and a quick ratio of 1.30. The stock has a market capitalization of $5.21 billion, a PE ratio of -28.74 and a beta of 2.30.
In other Carvana news, major shareholder Ernest C. Garcia II sold 114,274 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $47.47, for a total value of $5,424,586.78. Following the sale, the insider now owns 52,937,458 shares of the company’s stock, valued at $2,512,941,131.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael E. Maroone bought 1,000 shares of the stock in a transaction on Monday, November 26th. The stock was purchased at an average cost of $43.85 per share, for a total transaction of $43,850.00. Following the acquisition, the director now directly owns 30,000 shares of the company’s stock, valued at approximately $1,315,500. The disclosure for this purchase can be found here. Insiders have purchased 936,000 shares of company stock worth $31,068,300 in the last ninety days. 21.41% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. 683 Capital Management LLC grew its holdings in Carvana by 19.1% in the fourth quarter. 683 Capital Management LLC now owns 1,860,000 shares of the company’s stock valued at $60,841,000 after purchasing an additional 298,366 shares during the last quarter. Millennium Management LLC acquired a new stake in Carvana in the fourth quarter valued at $5,243,000. Legal & General Group Plc grew its holdings in Carvana by 777.6% in the fourth quarter. Legal & General Group Plc now owns 42,538 shares of the company’s stock valued at $1,391,000 after purchasing an additional 37,691 shares during the last quarter. Voloridge Investment Management LLC acquired a new stake in Carvana in the fourth quarter valued at $3,727,000. Finally, Requisite Energy Fund I LP acquired a new stake in Carvana in the fourth quarter valued at $57,470,000. 28.14% of the stock is currently owned by institutional investors.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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