Carvana Co. (NYSE:CVNA) Stock Has Consensus Target Price of $84.14 According to Brokerages

Carvana Co. (NYSE:CVNA) has received a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are currently covering the stock, Marketbeat reports. Eight analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $84.14.

Several equities research analysts have issued reports on CVNA shares. Zacks Research downgraded Carvana from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 15th. DA Davidson set a $67.00 price objective on shares of Carvana in a research report on Thursday, July 30th. Robert W. Baird set a $72.00 target price on shares of Carvana in a research note on Thursday, July 30th. Royal Bank Of Canada set a $82.00 target price on shares of Carvana and gave the stock an “outperform” rating in a report on Thursday, July 30th. Finally, Weiss Ratings lowered shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, September 22nd.

Carvana Price Performance

Shares of NYSE CVNA opened at $60.48 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.93 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average price is $68.94 and its two-hundred day moving average price is $68.42. The company has a market cap of $66.56 billion, a PE ratio of 33.45, a price-to-earnings-growth ratio of 1.87 and a beta of 3.49. Carvana has a twelve month low of $54.46 and a twelve month high of $97.38.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $6.90 billion. Carvana had a return on equity of 37.06% and a net margin of 6.26%.The business’s revenue was up 52.4% on a year-over-year basis. During the same period last year, the firm posted $1.51 earnings per share. On average, analysts predict that Carvana will post 1.68 EPS for the current year.

Insider Activity at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of Carvana stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $71.55, for a total transaction of $4,561,312.50. Following the completion of the sale, the chief financial officer directly owned 1,149,518 shares of the company’s stock, valued at approximately $82,248,012.90. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 16,789 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $70.58, for a total value of $1,184,967.62. Following the completion of the sale, the insider owned 366,987 shares of the company’s stock, valued at $25,901,942.46. This trade represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 402,564 shares of company stock valued at $27,689,555. Insiders own 15.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CVNA. State Street Corp raised its stake in Carvana by 417.1% in the 2nd quarter. State Street Corp now owns 29,435,364 shares of the company’s stock worth $1,937,436,000 after purchasing an additional 23,742,422 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Carvana by 345.8% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,325,237 shares of the company’s stock worth $218,867,000 after purchasing an additional 2,579,295 shares in the last quarter. Amundi increased its holdings in shares of Carvana by 379.7% during the second quarter. Amundi now owns 2,421,045 shares of the company’s stock worth $159,353,000 after purchasing an additional 1,916,349 shares during the period. Capital Research Global Investors increased its holdings in shares of Carvana by 42.9% during the fourth 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 during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Carvana by 384.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,898,095 shares of the company’s stock valued at $124,933,000 after buying an additional 1,506,145 shares in the last quarter. Institutional investors own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online used-car retailer that enables customers to research, purchase, finance, trade in and sell vehicles through its digital platform. The company’s services are designed to allow customers to complete much of the vehicle-buying process online, including selecting a vehicle, arranging financing, completing documentation and scheduling delivery or pickup.

Carvana offers a broad selection of used cars, trucks and sport utility vehicles. Its platform includes vehicle listings with photographs and inspection information, while its operations support vehicle reconditioning, logistics and customer delivery.