Carvana (NYSE:CVNA) Stock Rating Upgraded by Zacks Research

Carvana (NYSE:CVNA) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $107.40 target price on shares of Carvana in a research report on Thursday, April 30th. Argus decreased their target price on Carvana from $500.00 to $100.00 in a research report on Monday, May 11th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $92.00 target price on shares of Carvana in a research report on Friday, June 5th. Citizens Jmp boosted their target price on Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a research report on Friday, May 1st. Finally, Barclays set a $93.00 target price on Carvana and gave the company an “overweight” rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Carvana presently has an average rating of “Moderate Buy” and an average target price of $93.14.

Carvana Stock Up 0.3%

Shares of NYSE:CVNA opened at $69.68 on Monday. The company has a market capitalization of $76.43 billion, a price-to-earnings ratio of 42.39, a P/E/G ratio of 11.72 and a beta of 3.45. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.09 and a quick ratio of 2.57. The business’s 50-day moving average is $70.84 and its 200-day moving average is $75.17. Carvana has a 1 year low of $54.46 and a 1 year high of $97.38.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. The company had revenue of $6.43 billion for the quarter, compared to the consensus estimate of $6.12 billion. Carvana had a return on equity of 41.46% and a net margin of 6.40%. Equities research analysts predict that Carvana will post 1.58 earnings per share for the current year.

Insider Buying and Selling

In other Carvana news, CFO Mark W. Jenkins sold 63,750 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $70.40, for a total transaction of $4,488,000.00. Following the completion of the sale, the chief financial officer directly owned 1,036,594 shares of the company’s stock, valued at approximately $72,976,217.60. The trade was a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $70.42, for a total value of $352,100.00. Following the sale, the vice president directly owned 152,955 shares of the company’s stock, valued at $10,771,091.10. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 386,287 shares of company stock valued at $27,022,696. Company insiders own 15.19% of the company’s stock.

Institutional Trading of Carvana

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its holdings in Carvana by 8.6% during 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. increased its holdings in Carvana by 24.7% during the 4th 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 in the last quarter. State Street Corp increased its holdings in Carvana by 93.7% during the 4th quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors increased its holdings in Carvana by 42.9% during the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock worth $2,405,959,000 after purchasing an additional 1,711,144 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 1,382,852 shares in the last quarter. 56.71% of the stock is 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.