Barclays Cuts Carvana (NYSE:CVNA) Price Target to $430.00

Carvana (NYSE:CVNA) had its price target lowered by Barclays from $450.00 to $430.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of Carvana in a report on Thursday, January 8th. Stephens reaffirmed an “overweight” rating and issued a $519.00 price target on shares of Carvana in a report on Thursday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price target on shares of Carvana in a report on Monday, March 16th. Royal Bank Of Canada decreased their price target on shares of Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Finally, Citigroup decreased their price target on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus target price of $437.18.

Carvana Trading Up 5.8%

NYSE:CVNA opened at $338.66 on Monday. Carvana has a 52 week low of $173.96 and a 52 week high of $486.89. The firm has a 50 day moving average of $335.25 and a 200 day moving average of $370.74. The company has a quick ratio of 2.73, a current ratio of 4.31 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $74.12 billion, a price-to-earnings ratio of 42.12 and a beta of 3.61.

Shares of Carvana are set 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 market closes on Wednesday, May 6th.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 18th. The company reported $4.22 EPS for the quarter, beating 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 company had revenue of $5.60 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same quarter in the prior year, the company posted $0.56 earnings per share. Carvana’s revenue for the quarter was up 58.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other news, VP Stephen R. Palmer sold 1,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $317.50, for a total value of $317,500.00. Following the sale, the vice president owned 33,891 shares in the company, valued at $10,760,392.50. This represents a 2.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 10,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer owned 92,924 shares in the company, valued at $28,793,430.64. The trade was a 9.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,400 shares of company stock valued at $18,734,634. 17.12% of the stock is owned by corporate insiders.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently made changes to their positions in CVNA. Vanguard Group Inc. increased its stake in shares of Carvana by 24.7% in the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after acquiring an additional 3,328,115 shares during the period. 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 worth $2,411,751,000 after acquiring an additional 2,764,759 shares during the period. Capital Research Global Investors increased its stake in shares of Carvana by 42.9% in the fourth quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after acquiring an additional 1,711,144 shares during the period. Price T Rowe Associates Inc. MD grew its position in Carvana by 8.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after buying an additional 1,407,762 shares during the period. Finally, Geode Capital Management LLC grew its position in Carvana by 55.4% during the fourth 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 period. 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.