Carvana (NYSE:CVNA) Receives “Neutral” Rating from Wedbush

Wedbush restated their neutral rating on shares of Carvana (NYSE:CVNA) in a report issued on Thursday, Benzinga reports. They currently have a $80.00 price target on the stock, up from their prior price target of $60.00.

Several other analysts have also recently issued reports on CVNA. Robert W. Baird upped their price objective on Carvana from $60.00 to $65.00 and gave the stock a neutral rating in a report on Friday, April 19th. Raymond James raised Carvana from an underperform rating to a market perform rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their target price on Carvana from $65.00 to $70.00 and gave the company a neutral rating in a research report on Thursday, April 18th. Royal Bank of Canada raised Carvana from an underperform rating to a sector perform rating and upped their price objective for the company from $45.00 to $90.00 in a research report on Friday, March 8th. Finally, Evercore ISI dropped their price target on Carvana from $78.00 to $77.00 and set an in-line rating on the stock in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of Hold and an average target price of $55.87.

Carvana Stock Up 6.2 %

NYSE CVNA traded up $4.78 during trading hours on Thursday, reaching $82.28. The company’s stock had a trading volume of 2,418,484 shares, compared to its average volume of 5,988,021. The firm’s 50-day moving average price is $76.83 and its 200-day moving average price is $53.39. Carvana has a 1 year low of $6.70 and a 1 year high of $94.04. The company has a market capitalization of $16.61 billion, a price-to-earnings ratio of 143.56 and a beta of 3.32.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.97) earnings per share. Equities research analysts anticipate that Carvana will post -3.36 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $80.13, for a total transaction of $4,006,500.00. Following the sale, the insider now directly owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $80.13, for a total value of $4,006,500.00. Following the sale, the insider now directly owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $69.00, for a total value of $1,035,000.00. Following the completion of the sale, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. Insiders have sold a total of 187,883 shares of company stock valued at $15,505,178 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Hedge Funds Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV lifted its position in shares of Carvana by 17.6% in the first quarter. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV now owns 588,149 shares of the company’s stock valued at $51,704,000 after acquiring an additional 88,149 shares in the last quarter. Gainplan LLC purchased a new position in Carvana during the first quarter worth approximately $440,000. PFG Investments LLC lifted its position in Carvana by 68.2% during the first quarter. PFG Investments LLC now owns 42,783 shares of the company’s stock worth $3,761,000 after buying an additional 17,345 shares in the last quarter. Diversified Trust Co lifted its position in Carvana by 53.3% during the first quarter. Diversified Trust Co now owns 8,678 shares of the company’s stock worth $763,000 after buying an additional 3,019 shares in the last quarter. Finally, Quadrature Capital Ltd lifted its position in Carvana by 128.1% during the fourth quarter. Quadrature Capital Ltd now owns 118,196 shares of the company’s stock worth $6,269,000 after buying an additional 66,386 shares in the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.