Carvana (NYSE:CVNA) had its price target boosted by B. Riley from $38.00 to $76.00 in a research note released on Thursday morning, Marketbeat.com reports. B. Riley currently has a buy rating on the stock.
Other analysts have also issued reports about the stock. Citigroup raised their price target on shares of Carvana from $60.00 to $67.00 and gave the stock an average rating in a research report on Thursday. Barrington Research set a $26.00 price objective on shares of Carvana and gave the stock a buy rating in a report on Monday, May 7th. ValuEngine raised shares of Carvana from a hold rating to a buy rating in a report on Thursday, May 3rd. Wells Fargo & Co reaffirmed a buy rating and set a $44.00 price objective on shares of Carvana in a report on Sunday, June 24th. Finally, Deutsche Bank raised shares of Carvana from a hold rating to a buy rating in a report on Thursday, May 10th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $46.42.
Carvana traded up $2.95, hitting $54.06, during midday trading on Thursday, according to Marketbeat.com. The company had a trading volume of 1,511,612 shares, compared to its average volume of 954,076. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.47 and a quick ratio of 0.58. The firm has a market capitalization of $7.15 billion, a price-to-earnings ratio of -44.68 and a beta of -2.22. Carvana has a fifty-two week low of $12.17 and a fifty-two week high of $56.10.
Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.03). The company had revenue of $475.29 million during the quarter, compared to analyst estimates of $425.16 million. Carvana had a negative return on equity of 33.44% and a negative net margin of 5.30%. The business’s revenue for the quarter was up 127.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. sell-side analysts expect that Carvana will post -1.45 earnings per share for the current fiscal year.
In related news, major shareholder Ernest C. Garcia II sold 1,650,000 shares of Carvana stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $26.26, for a total transaction of $43,329,000.00. Following the completion of the transaction, the insider now directly owns 60,937,458 shares of the company’s stock, valued at approximately $1,600,217,647.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.69% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in CVNA. Wells Fargo & Company MN lifted its holdings in Carvana by 11.1% during the 4th quarter. Wells Fargo & Company MN now owns 68,448 shares of the company’s stock valued at $1,309,000 after purchasing an additional 6,825 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Carvana by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 131,742 shares of the company’s stock valued at $2,518,000 after purchasing an additional 2,788 shares during the last quarter. Deutsche Bank AG lifted its holdings in Carvana by 22.0% during the 4th quarter. Deutsche Bank AG now owns 59,016 shares of the company’s stock valued at $1,127,000 after purchasing an additional 10,654 shares during the last quarter. MetLife Investment Advisors LLC bought a new position in Carvana during the 4th quarter valued at about $133,000. Finally, Penserra Capital Management LLC lifted its holdings in Carvana by 48.8% during the 1st quarter. Penserra Capital Management LLC now owns 558,924 shares of the company’s stock valued at $12,816,000 after purchasing an additional 183,311 shares during the last quarter. 16.34% of the stock is owned by hedge funds and other institutional investors.
Carvana Company Profile
Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.
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