Carvana (NYSE:CVNA) Raised to “Strong-Buy” at Argus

Carvana (NYSE:CVNA) was upgraded by equities research analysts at Argus to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on CVNA. Royal Bank Of Canada reduced their price target on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Citigroup cut their price target on Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Gordon Haskett dropped their target price on shares of Carvana from $435.00 to $350.00 and set a “hold” rating for the company in a report on Friday, February 20th. Stephens reaffirmed an “overweight” rating and issued a $519.00 price target on shares of Carvana in a report on Thursday, February 19th. Finally, Barclays lowered their target price on Carvana from $530.00 to $450.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $440.59.

Carvana Stock Performance

Shares of CVNA stock traded up $8.79 during trading hours on Tuesday, reaching $325.05. 148,468 shares of the company’s stock were exchanged, compared to its average volume of 4,266,977. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. The company’s 50 day moving average is $404.04 and its two-hundred day moving average is $380.66. The company has a market cap of $71.14 billion, a P/E ratio of 40.43 and a beta of 3.60. Carvana has a 1 year low of $148.25 and a 1 year high of $486.89.

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

Insider Buying and Selling

In other news, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $475.24, for a total transaction of $19,009,600.00. Following the completion of the sale, the insider owned 191,106 shares in the company, valued at approximately $90,821,215.44. The trade was a 17.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $410.19, for a total transaction of $5,229,922.50. Following the completion of the transaction, the chief financial officer owned 202,817 shares in the company, valued at $83,193,505.23. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 300,673 shares of company stock worth $133,268,531 over the last ninety days. Insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Carvana in the 4th quarter valued at $29,000. Farmers & Merchants Investments Inc. acquired a new stake in shares of Carvana in the fourth quarter valued at about $29,000. ORG Partners LLC grew its stake in shares of Carvana by 8,700.0% in the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares in the last quarter. Motiv8 Investments LLC purchased a new stake in shares of Carvana during the 4th quarter valued at about $33,000. Finally, Salomon & Ludwin LLC lifted its position in Carvana by 112.5% during the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.