Carvana (NYSE:CVNA) Earns Buy Rating from BTIG Research

Carvana (NYSE:CVNA)‘s stock had its “buy” rating reiterated by investment analysts at BTIG Research in a note issued to investors on Friday, Marketbeat.com reports. They currently have a $87.00 target price on the stock. BTIG Research’s price objective would suggest a potential upside of 35.88% from the stock’s current price.

CVNA has been the topic of a number of other reports. Barclays reiterated an “overweight” rating and set a $80.00 price target (down from $93.00) on shares of Carvana in a research note on Tuesday. Citigroup reiterated a “market outperform” rating on shares of Carvana in a research note on Monday, August 31st. UBS Group reiterated a “buy” rating and set a $83.00 price target on shares of Carvana in a research note on Friday, July 31st. DA Davidson set a $67.00 price target on shares of Carvana in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada set a $82.00 price target on shares of Carvana and gave the stock an “outperform” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.13.

Carvana Stock Performance

NYSE CVNA traded up $0.83 during trading on Friday, reaching $64.03. The company’s stock had a trading volume of 787,540 shares, compared to its average volume of 13,217,682. 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 has a market cap of $70.46 billion, a price-to-earnings ratio of 35.52, a P/E/G ratio of 1.81 and a beta of 3.55. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The business’s fifty day moving average price is $68.93 and its 200-day moving average price is $68.57.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.03. Carvana had a net margin of 6.26% and a return on equity of 37.06%. The business had revenue of $7.38 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business posted $1.51 earnings per share. The business’s revenue was up 52.4% compared to the same quarter last year. As a group, analysts anticipate that Carvana will post 1.67 EPS for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, insider Thomas Taira sold 16,789 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 366,987 shares in the company, valued at approximately $25,901,942.46. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Platt sold 15,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $75.50, for a total transaction of $1,132,500.00. Following the transaction, the director 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 sold a total of 352,564 shares of company stock valued at $23,800,480 in the last ninety days. Company insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

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

About Carvana

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.