Carvana (NYSE:CVNA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Carvana (NYSE:CVNA) from a hold rating to a buy rating in a research note published on Saturday.

Other analysts have also issued reports about the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Carvana in a report on Saturday, September 27th. JPMorgan Chase & Co. increased their target price on shares of Carvana from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 17th. DA Davidson increased their target price on shares of Carvana from $260.00 to $380.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. JMP Securities increased their target price on shares of Carvana from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group set a $475.00 target price on shares of Carvana and gave the stock a “buy” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $407.44.

Carvana Price Performance

Shares of NYSE:CVNA opened at $338.77 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.58 and a debt-to-equity ratio of 2.51. Carvana has a 1 year low of $148.25 and a 1 year high of $413.33. The business has a fifty day simple moving average of $364.73 and a 200 day simple moving average of $317.04. The firm has a market cap of $72.90 billion, a price-to-earnings ratio of 84.91, a P/E/G ratio of 1.07 and a beta of 3.55.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.19. Carvana had a return on equity of 40.57% and a net margin of 3.46%.The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the company earned ($0.05) earnings per share. Carvana’s quarterly revenue was up 41.9% compared to the same quarter last year. As a group, sell-side analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Stephen R. Palmer sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $390.14, for a total value of $390,140.00. Following the sale, the vice president directly owned 43,513 shares of the company’s stock, valued at approximately $16,976,161.82. This trade represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark W. Jenkins sold 12,750 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $389.27, for a total value of $4,963,192.50. Following the completion of the sale, the chief financial officer directly owned 207,362 shares in the company, valued at approximately $80,719,805.74. This represents a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,838,292 shares of company stock valued at $664,602,807 in the last quarter. Insiders own 16.36% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of Carvana by 13.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,950,011 shares of the company’s stock valued at $3,125,749,000 after purchasing an additional 1,823,218 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Carvana by 1.8% in the second quarter. Vanguard Group Inc. now owns 12,764,230 shares of the company’s stock valued at $4,301,035,000 after buying an additional 229,387 shares during the period. State Street Corp lifted its stake in shares of Carvana by 15.0% in the second quarter. State Street Corp now owns 2,765,046 shares of the company’s stock valued at $931,710,000 after buying an additional 361,624 shares during the period. Geode Capital Management LLC lifted its stake in shares of Carvana by 11.0% in the second quarter. Geode Capital Management LLC now owns 2,232,179 shares of the company’s stock valued at $750,301,000 after buying an additional 221,161 shares during the period. Finally, Sands Capital Management LLC lifted its stake in shares of Carvana by 1,374.3% in the second quarter. Sands Capital Management LLC now owns 901,227 shares of the company’s stock valued at $303,677,000 after buying an additional 840,096 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

About Carvana

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.