Barclays Lowers Carvana (NYSE:CVNA) Price Target to $430.00

Carvana (NYSE:CVNA) had its price target lowered by stock analysts at Barclays from $450.00 to $430.00 in a note issued to investors on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 37.16% from the stock’s previous close.

Several other research firms have also issued reports on CVNA. JPMorgan Chase & Co. decreased their target price on Carvana from $510.00 to $490.00 and set an “overweight” rating for the company in a research report on Thursday, February 19th. Royal Bank Of Canada cut their price target on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Stephens reaffirmed an “overweight” rating and issued a $519.00 target price on shares of Carvana in a report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Finally, BTIG Research cut their price objective on shares of Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $437.86.

Carvana Stock Performance

Shares of NYSE CVNA opened at $313.50 on Monday. The firm has a market capitalization of $68.61 billion, a price-to-earnings ratio of 38.99 and a beta of 3.61. The company has a current ratio of 4.31, a quick ratio of 2.73 and a debt-to-equity ratio of 1.15. The business has a fifty day simple moving average of $342.93 and a 200 day simple moving average of $371.92. Carvana has a one year low of $148.25 and a one year high of $486.89.

Carvana’s stock is scheduled to split before the market opens on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly created shares will be payable to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a return on equity of 50.96% and a net margin of 6.92%.Carvana’s quarterly revenue was up 58.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.56 EPS. Sell-side analysts expect that Carvana will post 2.85 EPS for the current year.

Insiders Place Their Bets

In other Carvana news, insider Thomas Taira sold 953 shares of Carvana stock in a transaction on Monday, March 9th. The shares were sold at an average price of $325.00, for a total value of $309,725.00. Following the completion of the sale, the insider directly owned 64,997 shares of the company’s stock, valued at approximately $21,124,025. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $310.35, for a total transaction of $3,956,962.50. Following the transaction, the chief financial officer directly owned 197,089 shares in the company, valued at $61,166,571.15. This trade represents a 6.08% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 53,574 shares of company stock valued at $19,259,412. 17.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Carvana by 24.7% in the 4th quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after purchasing an additional 3,328,115 shares during the period. State Street Corp grew its holdings in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the last quarter. Capital Research Global Investors increased its position in shares of Carvana by 42.9% during the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Carvana by 55.4% in the fourth quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

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.