Craig Hallum reiterated their hold rating on shares of Carvana (NYSE:CVNA) in a research note issued to investors on Thursday morning.

Several other research analysts also recently commented on CVNA. Bank of America raised their price objective on shares of Carvana from $35.00 to $45.00 and gave the stock a positive rating in a report on Wednesday, June 27th. Wells Fargo & Co reaffirmed a buy rating and issued a $44.00 price objective on shares of Carvana in a report on Sunday, June 24th. BMO Capital Markets reaffirmed a hold rating and issued a $35.00 price objective on shares of Carvana in a report on Friday, July 13th. Stephens began coverage on shares of Carvana in a report on Tuesday, September 4th. They issued an equal weight rating for the company. Finally, Citigroup raised their price objective on shares of Carvana from $67.00 to $77.00 and gave the stock a buy rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Carvana presently has a consensus rating of Buy and an average price target of $47.19.

Carvana stock opened at $63.43 on Thursday. Carvana has a twelve month low of $12.17 and a twelve month high of $72.59. The company has a quick ratio of 0.78, a current ratio of 1.47 and a debt-to-equity ratio of 0.29.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, August 8th. The company reported ($0.37) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.03). The company had revenue of $475.29 million for the quarter, compared to the consensus estimate of $425.16 million. Carvana had a negative net margin of 5.30% and a negative return on equity of 33.44%. The firm’s revenue was up 127.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.28) earnings per share. analysts forecast that Carvana will post -1.49 EPS for the current fiscal year.

In other Carvana news, major shareholder Ddfs Partnership Lp sold 253,877 shares of the firm’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $69.30, for a total value of $17,593,676.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.69% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CVNA. Frontier Capital Management Co. LLC bought a new position in Carvana in the 2nd quarter valued at $43,726,000. BlackRock Inc. boosted its holdings in Carvana by 94.3% in the 2nd quarter. BlackRock Inc. now owns 1,858,986 shares of the company’s stock valued at $77,335,000 after purchasing an additional 902,271 shares during the period. Whale Rock Capital Management LLC bought a new position in Carvana in the 2nd quarter valued at $35,039,000. Chicago Capital LLC bought a new position in Carvana in the 1st quarter valued at $14,134,000. Finally, Spruce House Investment Management LLC bought a new position in Carvana in the 1st quarter valued at $6,486,000. 25.98% 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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Analyst Recommendations for Carvana (NYSE:CVNA)

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