Carvana (NYSE:CVNA) had its price target lowered by Robert W. Baird from $65.00 to $58.00 in a note issued to investors on Thursday. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price points to a potential upside of 29.29% from the stock’s current price.
CVNA has been the topic of several other research reports. Bank of America upped their price objective on Carvana from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 8th. Barrington Research reaffirmed a “buy” rating on shares of Carvana in a research report on Monday, November 5th. Zacks Investment Research raised Carvana from a “sell” rating to a “hold” rating in a research report on Tuesday, November 13th. JMP Securities upped their price objective on Carvana from $63.00 to $64.00 and gave the company a “market outperform” rating in a research report on Tuesday, November 13th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $57.00 price objective on shares of Carvana in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Carvana currently has an average rating of “Hold” and a consensus price target of $54.82.
Shares of NYSE CVNA traded up $3.04 during trading hours on Thursday, hitting $44.86. 6,669,865 shares of the company traded hands, compared to its average volume of 1,822,576. The company has a market cap of $6.49 billion, a P/E ratio of -37.07 and a beta of 2.30. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.30 and a current ratio of 2.04. Carvana has a 12 month low of $16.02 and a 12 month high of $72.59.
Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 27th. The company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.06). The company had revenue of $584.80 million for the quarter, compared to the consensus estimate of $601.14 million. Carvana had a negative net margin of 5.01% and a negative return on equity of 35.13%. The business’s revenue for the quarter was up 120.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.36) EPS. As a group, equities analysts predict that Carvana will post -1.65 EPS for the current year.
In other Carvana news, major shareholder Spruce House Partnership Lp acquired 205,000 shares of the business’s stock in a transaction on Monday, December 17th. The shares were bought at an average price of $32.85 per share, with a total value of $6,734,250.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired a total of 935,000 shares of company stock worth $31,024,450 in the last ninety days. 21.41% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the business. Parkside Advisors LLC lifted its holdings in shares of Carvana by 4.0% in the 4th quarter. Parkside Advisors LLC now owns 7,835 shares of the company’s stock worth $256,000 after buying an additional 300 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in shares of Carvana by 0.7% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 50,133 shares of the company’s stock worth $1,640,000 after buying an additional 329 shares during the period. Legal & General Group Plc lifted its holdings in shares of Carvana by 14.0% in the 3rd quarter. Legal & General Group Plc now owns 4,847 shares of the company’s stock worth $286,000 after buying an additional 596 shares during the period. First Mercantile Trust Co. lifted its holdings in shares of Carvana by 34.1% in the 4th quarter. First Mercantile Trust Co. now owns 3,061 shares of the company’s stock worth $100,000 after buying an additional 779 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Carvana by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 29,289 shares of the company’s stock worth $1,731,000 after buying an additional 1,479 shares during the period. Institutional investors and hedge funds own 28.14% of the company’s stock.
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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