Carvana Co. (NYSE:CVNA) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned an average recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $84.14.

Several equities research analysts have recently commented on the company. Evercore set a $75.00 target price on Carvana in a report on Thursday, July 30th. Morgan Stanley set a $90.00 target price on Carvana and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. Wells Fargo & Company set a $80.00 price target on Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, DA Davidson set a $67.00 price objective on Carvana in a research note on Thursday, July 30th.

Insider Buying and Selling

In related news, insider Thomas Taira sold 16,789 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $70.58, for a total transaction of $1,184,967.62. Following the completion of the sale, the insider directly owned 366,987 shares in the company, valued at approximately $25,901,942.46. This trade represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the transaction, the director directly owned 186,470 shares in the company, valued at $14,078,485. The trade was a 7.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 402,564 shares of company stock worth $27,689,555 over the last ninety days. 15.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its holdings in shares of Carvana by 417.1% during the second quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after acquiring an additional 23,742,422 shares in the last quarter. Capital Research Global Investors grew its stake in Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Geode Capital Management LLC grew its stake in 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Carvana by 345.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock valued at $218,867,000 after purchasing an additional 2,579,295 shares in the last quarter. Finally, Sands Capital Management LLC increased its position in Carvana by 44.4% in the 4th quarter. Sands Capital Management LLC now owns 2,442,534 shares of the company’s stock worth $1,030,798,000 after purchasing an additional 751,019 shares during the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Carvana Trading Up 1.2%

Carvana stock opened at $64.97 on Tuesday. The firm has a market cap of $71.49 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 1.87 and a beta of 3.49. Carvana has a 1 year low of $54.46 and a 1 year high of $97.38. The firm’s 50 day moving average price is $69.01 and its two-hundred day moving average price is $68.46. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The company’s quarterly revenue was up 52.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.51 EPS. On average, research analysts predict that Carvana will post 1.68 EPS for the current fiscal year.

About Carvana

Carvana Co (NYSE: CVNA) is an online used-car retailer that enables consumers to research, purchase, finance and sell vehicles through its website and mobile platform. The company offers a selection of used cars, trucks and SUVs, with vehicle listings that generally include photographs, pricing and vehicle-history information.

Customers can complete much of the vehicle-buying process online, including applying for financing, arranging trade-ins and scheduling vehicle pickup or delivery.