Carvana (NYSE:CVNA) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Carvana (NYSE:CVNA) from a hold rating to a sell rating in a report published on Tuesday morning, Zacks.com reports.

According to Zacks, “Carvana Co. provide eCommerce platform for buying used cars. Carvana Co. is headquartered in Phoenix, Arizona. “

Other equities analysts have also recently issued reports about the company. Robert W. Baird increased their price target on Carvana from $65.00 to $85.00 and gave the company an outperform rating in a report on Thursday, May 9th. Morgan Stanley lowered their price target on Virtus Investment Partners from $121.00 to $118.00 and set an equal weight rating on the stock in a report on Tuesday. Barrington Research cut Carvana from an outperform rating to a market perform rating in a report on Wednesday, April 3rd. Cowen began coverage on TrueCar in a report on Monday, May 20th. They issued a hold rating and a $7.00 target price on the stock. Finally, B. Riley reaffirmed a buy rating on shares of Insight Enterprises in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $67.92.

NYSE CVNA opened at $67.31 on Tuesday. The company’s fifty day moving average price is $62.53. The company has a market cap of $9.71 billion, a PE ratio of -38.91 and a beta of 2.40. The company has a debt-to-equity ratio of 2.73, a current ratio of 1.39 and a quick ratio of 0.56. Carvana has a 1-year low of $28.44 and a 1-year high of $76.85.

Carvana (NYSE:CVNA) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.03). The firm had revenue of $755.23 million for the quarter, compared to the consensus estimate of $696.61 million. Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. As a group, analysts expect that Carvana will post -1.82 EPS for the current fiscal year.

In other Carvana news, insider Paul W. Breaux sold 12,500 shares of the stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $59.05, for a total value of $738,125.00. Following the completion of the sale, the insider now owns 10,628 shares in the company, valued at approximately $627,583.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ira J. Platt sold 63,719 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $71.31, for a total value of $4,543,801.89. Following the completion of the sale, the director now owns 82,101 shares of the company’s stock, valued at approximately $5,854,622.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,126,502 shares of company stock worth $137,756,374. 13.02% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Valeo Financial Advisors LLC grew its position in shares of Carvana by 100.0% during the first quarter. Valeo Financial Advisors LLC now owns 1,000 shares of the company’s stock valued at $58,000 after purchasing an additional 500 shares in the last quarter. Cambria Investment Management L.P. purchased a new position in shares of Carvana during the first quarter valued at about $167,000. CIBC Asset Management Inc purchased a new position in shares of Carvana during the first quarter valued at about $272,000. BB&T Corp purchased a new position in shares of Carvana during the first quarter valued at about $342,000. Finally, Parkside Advisors LLC grew its position in shares of Carvana by 5.6% during the first quarter. Parkside Advisors LLC now owns 8,275 shares of the company’s stock valued at $480,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 35.90% of the company’s stock.

Carvana Company Profile

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 proprietary 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.

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