Carvana (NYSE:CVNA) Given New $90.00 Price Target at Jefferies Financial Group

Carvana (NYSE:CVNA) had its price objective lowered by analysts at Jefferies Financial Group from $95.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 38.32% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. BTIG Research reiterated a “buy” rating and set a $97.00 price target on shares of Carvana in a research note on Friday, June 5th. Gordon Haskett increased their target price on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research note on Thursday, April 30th. Morgan Stanley lifted their target price on Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. UBS Group reissued a “buy” rating and issued a $104.00 target price (up from $97.00) on shares of Carvana in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. upped their price target on Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.92.

Carvana Price Performance

CVNA stock opened at $65.07 on Tuesday. The company has a market capitalization of $71.37 billion, a P/E ratio of 39.58, a PEG ratio of 11.11 and a beta of 3.46. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38. The business has a 50 day simple moving average of $68.49 and a 200-day simple moving average of $72.80. The company has a current ratio of 4.09, a quick ratio of 2.57 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $1.37. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. Carvana had a net margin of 6.40% and a return on equity of 41.46%. As a group, equities analysts anticipate that Carvana will post 1.58 EPS for the current year.

Insiders Place Their Bets

In other news, VP Stephen R. Palmer sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $68.53, for a total value of $342,650.00. Following the completion of the sale, the vice president owned 144,934 shares of the company’s stock, valued at approximately $9,932,327.02. The trade was a 3.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira J. Platt sold 15,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $67.83, for a total transaction of $1,017,450.00. Following the completion of the transaction, the director directly owned 186,470 shares in the company, valued at $12,648,260.10. This represents a 7.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 396,962 shares of company stock valued at $28,525,088. 15.19% of the stock is currently 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. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana in the fourth quarter valued at $29,000. Farmers & Merchants Investments Inc. purchased a new stake in shares of Carvana during the fourth quarter valued at $29,000. Motiv8 Investments LLC purchased a new stake in shares of Carvana during the fourth quarter valued at $33,000. Ascentis Independent Advisors acquired a new position in shares of Carvana in the 1st quarter valued at $26,000. Finally, Salomon & Ludwin LLC increased its stake in Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors.

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.