Carvana (NYSE:CVNA) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Carvana (NYSE:CVNA) from an equal weight rating to an overweight rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. Morgan Stanley currently has $280.00 price target on the stock, up from their prior price target of $260.00.

CVNA has been the subject of a number of other research reports. Wells Fargo & Company dropped their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Wedbush set a $250.00 target price on Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Piper Sandler upgraded shares of Carvana from a “neutral” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Thursday, March 20th. Finally, Stephens reiterated an “overweight” rating and issued a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $261.53.

Carvana Stock Down 0.2 %

Shares of CVNA stock opened at $204.45 on Tuesday. The company has a quick ratio of 2.12, a current ratio of 3.64 and a debt-to-equity ratio of 3.82. The stock has a 50 day moving average of $227.77 and a 200-day moving average of $216.41. Carvana has a 12 month low of $67.61 and a 12 month high of $292.84. The firm has a market cap of $43.58 billion, a PE ratio of 130.22 and a beta of 3.56.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. On average, equities analysts predict that Carvana will post 2.85 EPS for the current year.

Insider Activity at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $200.75, for a total value of $2,007,500.00. Following the sale, the chief financial officer now owns 189,097 shares of the company’s stock, valued at $37,961,222.75. The trade was a 5.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $178.49, for a total value of $8,924,500.00. Following the completion of the transaction, the chief operating officer now owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 197,377 shares of company stock valued at $44,251,096. 17.12% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Carvana by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 36,215 shares of the company’s stock worth $7,365,000 after buying an additional 1,430 shares during the period. California State Teachers Retirement System grew its position in Carvana by 81.5% in the 4th quarter. California State Teachers Retirement System now owns 181,249 shares of the company’s stock worth $36,859,000 after purchasing an additional 81,414 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Carvana by 16.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,513 shares of the company’s stock worth $511,000 after purchasing an additional 348 shares during the period. Siemens Fonds Invest GmbH bought a new position in Carvana in the 4th quarter worth $839,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Carvana during the 4th quarter valued at $36,527,000. Institutional investors own 56.71% of the company’s stock.

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.