Carvana (NYSE:CVNA) Sets New 1-Year High Following Analyst Upgrade

Carvana Co. (NYSE:CVNA) reached a new 52-week high during mid-day trading on Tuesday after Evercore ISI raised their price target on the stock from $178.00 to $182.00. Evercore ISI currently has an in-line rating on the stock. Carvana traded as high as $196.40 and last traded at $195.40, with a volume of 788317 shares trading hands. The stock had previously closed at $191.49.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada raised Carvana to a “sector perform” rating and upped their price target for the stock from $166.00 to $170.00 in a research note on Monday, August 19th. BTIG Research lifted their target price on shares of Carvana from $155.00 to $188.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $200.00 price target on shares of Carvana in a research note on Monday, September 9th. TD Cowen lifted their price objective on Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird initiated coverage on Carvana in a report on Thursday, August 1st. They issued a “neutral” rating and a $160.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $177.88.

Insiders Place Their Bets

In other news, major shareholder Ernest C. Garcia II sold 100,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $191.37, for a total value of $19,137,000.00. Following the transaction, the insider now directly owns 37,858,131 shares in the company, valued at $7,244,910,529.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carvana news, insider Daniel J. Gill sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $175.00, for a total transaction of $5,250,000.00. Following the completion of the transaction, the insider now owns 328,329 shares in the company, valued at $57,457,575. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $191.37, for a total value of $19,137,000.00. Following the sale, the insider now directly owns 37,858,131 shares in the company, valued at $7,244,910,529.47. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,834,366 shares of company stock worth $455,381,659. Company insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 39.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,459,065 shares of the company’s stock worth $655,727,000 after purchasing an additional 2,112,463 shares during the last quarter. Vanguard Group Inc. grew its stake in Carvana by 7.0% in the 4th quarter. Vanguard Group Inc. now owns 10,023,579 shares of the company’s stock worth $530,648,000 after acquiring an additional 655,603 shares in the last quarter. Sylebra Capital LLC purchased a new position in shares of Carvana during the second quarter worth approximately $67,686,000. Senator Investment Group LP purchased a new position in shares of Carvana during the second quarter worth approximately $63,767,000. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Carvana by 124.9% in the second quarter. Driehaus Capital Management LLC now owns 581,787 shares of the company’s stock valued at $74,888,000 after purchasing an additional 323,153 shares during the period. Institutional investors own 56.71% of the company’s stock.

Carvana Price Performance

The company has a debt-to-equity ratio of 47.20, a quick ratio of 2.02 and a current ratio of 3.11. The firm has a fifty day simple moving average of $162.78 and a 200 day simple moving average of $129.50. The company has a market capitalization of $39.58 billion, a PE ratio of 85.70 and a beta of 3.44.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The business had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Equities analysts anticipate that Carvana Co. will post 0.29 EPS for the current year.

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.