Evercore ISI Forecasts Strong Price Appreciation for Carvana (NYSE:CVNA) Stock

Carvana (NYSE:CVNA) had its target price increased by investment analysts at Evercore ISI from $425.00 to $430.00 in a note issued to investors on Tuesday,MarketScreener reports. Evercore ISI’s target price points to a potential downside of 9.63% from the company’s previous close.

Several other research firms also recently weighed in on CVNA. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. BTIG Research boosted their price objective on Carvana from $450.00 to $535.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Barclays raised their target price on shares of Carvana from $465.00 to $530.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $460.00 target price on shares of Carvana in a report on Thursday, October 30th. Finally, Stephens increased their target price on shares of Carvana from $454.00 to $519.00 and gave the stock an “overweight” rating in a research note on Friday, January 9th. Nineteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $473.36.

Carvana Stock Up 0.4%

Shares of NYSE CVNA traded up $2.12 during midday trading on Tuesday, hitting $475.83. 248,573 shares of the company’s stock were exchanged, compared to its average volume of 2,703,608. The company has a market cap of $103.51 billion, a PE ratio of 108.23, a P/E/G ratio of 1.14 and a beta of 3.54. Carvana has a twelve month low of $148.25 and a twelve month high of $486.89. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm’s fifty day simple moving average is $423.07 and its 200-day simple moving average is $377.11.

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

Insider Activity at Carvana

In related news, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $400.34, for a total value of $12,381,715.52. Following the completion of the transaction, the director directly owned 143,573 shares of the company’s stock, valued at $57,478,014.82. This trade represents a 17.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas Taira sold 30,952 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $435.96, for a total value of $13,493,833.92. Following the sale, the insider owned 69,880 shares in the company, valued at approximately $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 467,626 shares of company stock valued at $192,090,109 in the last ninety days. Company insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Hilltop National Bank acquired a new position in Carvana in the second quarter valued at $25,000. ORG Partners LLC lifted its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the period. Washington Trust Advisors Inc. acquired a new stake in Carvana in the 3rd quarter worth about $38,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Carvana in the 3rd quarter valued at about $38,000. 56.71% of the stock is owned by institutional investors and hedge funds.

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.