Analysts Set Carvana Co. (NYSE:CVNA) PT at $440.59

Carvana Co. (NYSE:CVNA) has been assigned an average recommendation of “Moderate Buy” from the twenty-five research firms that are currently covering the company, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $440.5909.

Several brokerages have recently commented on CVNA. DA Davidson decreased their target price on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Needham & Company LLC reissued a “buy” rating and set a $500.00 price target on shares of Carvana in a research report on Monday, March 16th. BTIG Research reduced their price objective on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Deutsche Bank Aktiengesellschaft decreased their price objective on Carvana from $600.00 to $519.00 and set a “buy” rating for the company in a research report on Thursday, February 19th. Finally, UBS Group set a $485.00 target price on Carvana in a research note on Friday, February 20th.

Carvana Stock Performance

Shares of CVNA opened at $313.99 on Tuesday. The company has a 50-day moving average of $346.11 and a two-hundred day moving average of $372.26. The stock has a market cap of $68.72 billion, a price-to-earnings ratio of 39.05 and a beta of 3.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.31 and a quick ratio of 2.73. 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 issued shares will be issued to shareholders after the closing bell on Wednesday, May 6th.

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

Insider Buying and Selling at Carvana

In other Carvana news, Director J Danforth Quayle sold 2,900 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $309.97, for a total value of $898,913.00. Following the completion of the sale, the director owned 41,913 shares in the company, valued at $12,991,772.61. This represents a 6.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Benjamin E. Huston sold 10,000 shares of Carvana stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $411.27, for a total transaction of $4,112,700.00. Following the sale, the chief operating officer directly owned 98,652 shares of the company’s stock, valued at $40,572,608.04. This trade represents a 9.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 29,824 shares of company stock valued at $11,886,350 in the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

A number of hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Carvana in the fourth quarter valued at about $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Carvana during the 4th quarter worth about $29,000. ORG Partners LLC lifted its holdings in shares of Carvana by 8,700.0% during the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock valued at $33,000 after buying an additional 87 shares during the last quarter. Motiv8 Investments LLC bought a new stake in shares of Carvana in the 4th quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC grew its stake in shares of Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock valued at $37,000 after buying an additional 45 shares in the last quarter. 56.71% of the stock is owned by institutional investors and hedge funds.

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.