Carvana Co. (NYSE:CVNA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Carvana Co. (NYSE:CVNA) have earned an average rating of “Moderate Buy” from the twenty-four brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $93.1391.

A number of equities analysts have recently commented on the stock. Robert W. Baird set a $88.00 target price on shares of Carvana in a research report on Friday, May 15th. Citizens Jmp boosted their price target on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. William Blair restated an “outperform” rating on shares of Carvana in a report on Friday, March 13th. BTIG Research reaffirmed a “buy” rating and set a $97.00 target price on shares of Carvana in a research report on Friday, June 5th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $107.40 target price on shares of Carvana in a report on Thursday, April 30th.

Trending Headlines about Carvana

Here are the key news stories impacting Carvana this week:

• Positive Sentiment: Carvana expanded same-day vehicle delivery and pickup in the greater Milwaukee area, reinforcing its ability to speed up the online car-buying and selling process and potentially improve customer satisfaction. Carvana Expands Same-Day Delivery to Milwaukee
• Positive Sentiment: The company is also being highlighted for streamlining used-car retail, with an integrated system that can move a vehicle from acquisition to delivery in as little as 4.8 days, which supports its efficiency and scaling narrative. How Is Carvana Speeding Up Its Used-Car Retail Process?
• Neutral Sentiment: Analyst-style coverage noted that Carvana’s stock has had a huge multi-year run, but recent weakness and a low value score suggest the market may be debating whether the current valuation already reflects much of the growth story. Carvana (CVNA) Stock Looks Stretched Following Its Very Large 3 Year Run
• Negative Sentiment: Carvana also faced a new competitive concern as Bidbus raised capital to expand its used-car marketplace, adding another rival in the online car retail space and increasing pressure on Carvana’s business model. Carvana (CVNA) Faces A New Rival As Bidbus Expands Used Car Marketplace
• Negative Sentiment: Recent market commentary also pointed out that CVNA fell more than the broader market in the latest session, reinforcing the view that investor sentiment has turned cautious in the near term. Carvana (CVNA) Registers a Bigger Fall Than the Market: Important Facts to Note

Insider Transactions at Carvana

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $77.44, for a total value of $4,936,672.50. Following the transaction, the chief financial officer owned 1,050,635 shares in the company, valued at $81,359,073.13. The trade was a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $76.99, for a total transaction of $3,849,600.00. Following the completion of the transaction, the chief operating officer owned 529,810 shares of the company’s stock, valued at $40,791,131.52. This represents a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 396,962 shares of company stock worth $28,525,088. Company insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock valued at $7,082,804,000 after acquiring an additional 3,328,115 shares during the last quarter. State Street Corp lifted its holdings in shares of Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after purchasing an additional 2,764,759 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Carvana by 42.9% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Carvana by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock worth $7,481,081,000 after purchasing an additional 1,407,762 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Carvana by 55.4% during the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock worth $1,632,763,000 after buying an additional 1,382,852 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Stock Down 1.7%

NYSE:CVNA opened at $66.37 on Thursday. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The company has a market cap of $72.80 billion, a price-to-earnings ratio of 40.37, a price-to-earnings-growth ratio of 11.39 and a beta of 3.46. The stock has a fifty day simple moving average of $69.38 and a 200-day simple moving average of $73.31. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The firm had revenue of $6.43 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Analysts anticipate that Carvana will post 1.58 EPS for the current year.

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.