Carvana (NYSE:CVNA) Hits New 1-Year High – Here’s What Happened

Carvana Co. (NYSE:CVNA)’s share price hit a new 52-week high on Friday . The company traded as high as $486.89 and last traded at $474.5480, with a volume of 634507 shares changing hands. The stock had previously closed at $478.45.

Analyst Upgrades and Downgrades

CVNA has been the topic of a number of research reports. Citigroup raised their price objective on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Stephens raised their price target on shares of Carvana from $454.00 to $519.00 and gave the company an “overweight” rating in a report on Friday, January 9th. Wall Street Zen cut shares of Carvana from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. UBS Group increased their price objective on shares of Carvana from $450.00 to $545.00 and gave the stock a “buy” rating in a research report on Wednesday, January 14th. Finally, Gordon Haskett reduced their target price on shares of Carvana from $445.00 to $435.00 and set a “hold” rating on the stock in a report on Monday, January 5th. Nineteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $468.59.

Carvana Stock Performance

The firm has a market capitalization of $102.85 billion, a price-to-earnings ratio of 107.80, a price-to-earnings-growth ratio of 1.09 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05. The stock’s fifty day moving average is $416.97 and its two-hundred day moving average is $375.02.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The firm had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.04 billion. Carvana had a net margin of 3.44% and a return on equity of 30.62%. The business’s quarterly revenue was up 54.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.64 earnings per share. Analysts forecast that Carvana Co. will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the sale, the director owned 143,573 shares in the company, valued at $57,478,014.82. This trade represents a 17.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas Taira sold 30,952 shares of Carvana stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $435.96, for a total value of $13,493,833.92. Following the sale, the insider owned 69,880 shares in the company, valued at $30,464,884.80. This represents a 30.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 467,626 shares of company stock valued at $192,090,109 in the last three months. 17.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after acquiring an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Carvana by 251.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock valued at $53,000 after purchasing an additional 181 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Carvana by 82.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,533 shares of the company’s stock worth $1,579,000 after purchasing an additional 2,051 shares during the last quarter. UMB Bank n.a. grew its stake in Carvana by 519.2% in the second quarter. UMB Bank n.a. now owns 322 shares of the company’s stock worth $109,000 after purchasing an additional 270 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new position in Carvana in the second quarter worth about $796,000. 56.71% of the stock is currently owned by institutional investors.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.