Carvana (NYSE:CVNA) Price Target Lowered to $435.00 at Gordon Haskett

Carvana (NYSE:CVNA) had its price objective decreased by equities researchers at Gordon Haskett from $445.00 to $435.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage presently has a “hold” rating on the stock. Gordon Haskett’s price objective points to a potential upside of 7.88% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. Stephens reissued an “overweight” rating and issued a $440.00 price objective on shares of Carvana in a report on Tuesday, September 23rd. DA Davidson set a $360.00 price target on Carvana in a research note on Thursday, October 30th. Evercore ISI increased their price target on Carvana from $420.00 to $425.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 23rd. Wedbush lifted their price objective on Carvana from $400.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, December 19th. Finally, Citigroup increased their target price on Carvana from $445.00 to $550.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Carvana currently has an average rating of “Moderate Buy” and an average target price of $451.14.

Carvana Stock Performance

NYSE:CVNA opened at $403.23 on Monday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. The stock has a 50 day simple moving average of $380.68 and a 200 day simple moving average of $363.32. Carvana has a 1-year low of $148.25 and a 1-year high of $485.33. The stock has a market cap of $87.72 billion, a P/E ratio of 92.09, a PEG ratio of 0.95 and a beta of 3.54.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). The firm had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.04 billion. Carvana had a return on equity of 30.62% and a net margin of 3.44%.The firm’s quarterly revenue was up 54.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Research analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

Insider Activity

In related news, COO Benjamin E. Huston sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the completion of the transaction, the chief operating officer directly owned 100,758 shares in the company, valued at $44,283,141. This represents a 28.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the sale, the director owned 143,573 shares in the company, valued at $57,478,014.82. This represents a 17.72% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 455,582 shares of company stock valued at $186,714,293. Corporate insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Carvana

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Carvana by 34.6% during the fourth quarter. GAMMA Investing LLC now owns 1,421 shares of the company’s stock valued at $600,000 after purchasing an additional 365 shares in the last quarter. Sherman Porfolios LLC acquired a new stake in Carvana during the 3rd quarter worth approximately $225,000. Keel Point LLC grew its holdings in Carvana by 11.8% during the 3rd quarter. Keel Point LLC now owns 860 shares of the company’s stock worth $324,000 after acquiring an additional 91 shares during the last quarter. Hudson Bay Capital Management LP increased its position in Carvana by 201.5% in the 3rd quarter. Hudson Bay Capital Management LP now owns 49,688 shares of the company’s stock valued at $18,744,000 after acquiring an additional 33,210 shares during the period. Finally, Allworth Financial LP raised its stake in shares of Carvana by 10.5% during the third quarter. Allworth Financial LP now owns 1,250 shares of the company’s stock valued at $472,000 after acquiring an additional 119 shares during the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

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.