Carvana (NYSE:CVNA) Given Neutral Rating at Bank of America

Carvana (NYSE:CVNA)‘s stock had its “neutral” rating reissued by investment analysts at Bank of America in a report released on Monday,Benzinga reports. They presently have a $360.00 price objective on the stock, down from their previous price objective of $400.00. Bank of America‘s price objective would indicate a potential upside of 14.65% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada lowered their price target on Carvana from $500.00 to $440.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. DA Davidson reduced their target price on Carvana from $470.00 to $320.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. William Blair restated an “outperform” rating on shares of Carvana in a research note on Friday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $500.00 price target on shares of Carvana in a report on Monday, March 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Carvana from $550.00 to $485.00 and set a “buy” rating for the company in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $438.77.

Carvana Stock Performance

Shares of NYSE CVNA opened at $313.99 on Monday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31. The stock has a 50 day moving average price of $342.93 and a 200 day moving average price of $371.92. The stock has a market capitalization of $68.72 billion, a PE ratio of 39.05 and a beta of 3.61. Carvana has a 52 week low of $148.25 and a 52 week high of $486.89.

Shares of Carvana are scheduled to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly created shares will be issued to shareholders after the market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The firm’s revenue for the quarter was up 58.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share. Analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other news, Director J Danforth Quayle sold 2,900 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $12,991,772.61. The trade was a 6.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Benjamin E. Huston sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $309.86, for a total transaction of $3,098,600.00. Following the transaction, the chief operating officer owned 92,924 shares of the company’s stock, valued at approximately $28,793,430.64. This represents a 9.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 53,574 shares of company stock valued at $19,259,412. 17.12% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CVNA. Price T Rowe Associates Inc. MD increased its holdings in 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. Vanguard Group Inc. grew its holdings in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares during the last quarter. State Street Corp increased its stake in shares of Carvana by 93.7% in the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock valued at $2,411,751,000 after buying an additional 2,764,759 shares during the period. Capital Research Global Investors raised its holdings in Carvana by 42.9% in 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 buying an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after buying an additional 1,382,852 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.