Carvana Co. (NYSE:CVNA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have received a consensus rating of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.1364.

Several research firms recently weighed in on CVNA. BTIG Research dropped their target price on shares of Carvana from $97.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Stephens boosted their price objective on Carvana from $86.00 to $97.00 in a report on Thursday, April 30th. Robert W. Baird set a $72.00 target price on Carvana in a research note on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $80.00 target price on shares of Carvana in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th.

Insider Activity

In other Carvana news, Director Ira J. Platt sold 15,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $67.83, for a total value of $1,017,450.00. Following the completion of the transaction, the director owned 186,470 shares in the company, valued at $12,648,260.10. The trade was a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $64.50, for a total transaction of $4,111,875.00. Following the completion of the transaction, the chief financial officer owned 1,156,534 shares of the company’s stock, valued at approximately $74,596,443. This trade represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 391,372 shares of company stock worth $26,555,789 over the last 90 days. Company insiders own 15.19% of the company’s stock.

Institutional Trading of Carvana

Several hedge funds have recently modified their holdings of CVNA. Ascentis Independent Advisors purchased a new stake in Carvana during the 1st quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Carvana in the 4th quarter valued at about $29,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana in the 4th quarter valued at about $29,000. Annis Gardner Whiting Capital Advisors LLC grew its position in shares of Carvana by 152.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after buying an additional 58 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in shares of Carvana during the fourth quarter worth about $33,000. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Stock Down 0.0%

Shares of NYSE:CVNA opened at $70.83 on Monday. The company has a market capitalization of $77.95 billion, a price-to-earnings ratio of 39.18, a PEG ratio of 2.62 and a beta of 3.46. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38. The business has a 50-day moving average price of $66.55 and a 200 day moving average price of $69.82. The company has a current ratio of 3.93, a quick ratio of 2.33 and a debt-to-equity ratio of 0.94.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The company had revenue of $7.38 billion during the quarter, compared to analyst estimates of $6.90 billion. Carvana had a net margin of 6.26% and a return on equity of 37.06%. Carvana’s revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.51 earnings per share. Sell-side analysts expect that Carvana will post 1.65 EPS for the current year.

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.