Carvana (NYSE:CVNA) Given “Buy” Rating at BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reaffirmed by BTIG Research in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $87.00 price target on the stock. BTIG Research’s price objective suggests a potential upside of 35.16% from the company’s current price.

Other research analysts have also issued reports about the stock. Morgan Stanley set a $90.00 price target on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 price target on shares of Carvana in a research report on Thursday, July 30th. Stephens restated an “overweight” rating and set a $83.00 price target (down from $91.50) on shares of Carvana in a research report on Tuesday. Wells Fargo & Company set a $80.00 price target on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and an average target price of $83.13.

Carvana Stock Performance

Carvana stock traded up $1.17 during mid-day trading on Friday, reaching $64.37. The company’s stock had a trading volume of 2,063,840 shares, compared to its average volume of 13,224,729. Carvana has a 12-month low of $54.46 and a 12-month high of $97.38. The company has a market capitalization of $70.84 billion, a P/E ratio of 35.58, a PEG ratio of 1.81 and a beta of 3.55. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.33 and a current ratio of 3.93. The firm’s fifty day moving average price is $68.93 and its two-hundred day moving average price is $68.57.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The business 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 period in the previous year, the business earned $1.51 EPS. Sell-side analysts predict that Carvana will post 1.67 EPS for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $61.64, for a total value of $308,200.00. Following the completion of the sale, the vice president directly owned 120,865 shares of the company’s stock, valued at $7,450,118.60. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director J Quayle sold 14,525 shares of the business’s stock in a transaction on Friday, August 14th. The stock was sold at an average price of $75.00, for a total transaction of $1,089,375.00. Following the completion of the sale, the director directly owned 214,960 shares of the company’s stock, valued at $16,122,000. This represents a 6.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 352,564 shares of company stock worth $23,800,480 in the last three months. 15.19% of the stock is owned by insiders.

Institutional Trading of Carvana

Several hedge funds have recently added to or reduced their stakes in CVNA. GAMMA Investing LLC lifted its stake in Carvana by 22.1% in the third quarter. GAMMA Investing LLC now owns 16,402 shares of the company’s stock worth $1,026,000 after purchasing an additional 2,971 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Carvana by 37.7% in the third quarter. Farther Finance Advisors LLC now owns 50,790 shares of the company’s stock worth $3,176,000 after purchasing an additional 13,898 shares during the last quarter. CoreCap Advisors LLC lifted its stake in Carvana by 413.3% in the third quarter. CoreCap Advisors LLC now owns 1,196 shares of the company’s stock worth $75,000 after purchasing an additional 963 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Carvana by 12.0% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 1,950 shares of the company’s stock worth $122,000 after purchasing an additional 209 shares during the last quarter. Finally, CX Institutional lifted its stake in Carvana by 24.6% in the third quarter. CX Institutional now owns 4,246 shares of the company’s stock worth $266,000 after purchasing an additional 837 shares during the last quarter. 56.71% of the stock is owned by institutional investors.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.