Carvana Co. (CVNA) Rating Reiterated by Robert W. Baird
Several other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Carvana from a buy rating to a sell rating in a research report on Thursday, November 2nd. B. Riley initiated coverage on shares of Carvana in a research report on Friday, September 22nd. They set a sell rating and a $12.00 price target on the stock. Barrington Research initiated coverage on shares of Carvana in a research report on Friday, October 27th. They set a market perform rating on the stock. Wedbush reaffirmed a neutral rating and set a $18.14 price target (down previously from $20.00) on shares of Carvana in a research report on Friday, September 15th. Finally, Wells Fargo & Company reissued an outperform rating and issued a $23.00 target price on shares of Carvana in a report on Sunday, August 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $19.31.
Carvana (CVNA) opened at $15.32 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50. Carvana has a 12-month low of $8.14 and a 12-month high of $23.70.
Carvana (NYSE:CVNA) last issued its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.01. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $243.61 million. analysts expect that Carvana will post -1.19 earnings per share for the current year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN lifted its holdings in Carvana by 10.8% in the third quarter. Wells Fargo & Company MN now owns 61,623 shares of the company’s stock worth $905,000 after acquiring an additional 5,998 shares during the last quarter. Nationwide Fund Advisors bought a new position in Carvana in the second quarter worth about $177,000. Nordea Investment Management AB bought a new position in Carvana in the second quarter worth about $190,000. ClariVest Asset Management LLC bought a new position in Carvana in the second quarter worth about $190,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Carvana by 2,272.3% during the third quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock valued at $165,000 after buying an additional 10,589 shares during the last quarter. 12.64% of the stock is currently owned by hedge funds and other institutional investors.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
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