Evercore ISI Raises Carvana (NYSE:CVNA) Price Target to $425.00

Carvana (NYSE:CVNA) had its price target upped by stock analysts at Evercore ISI from $420.00 to $425.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price objective would indicate a potential downside of 2.02% from the company’s current price.

Several other equities research analysts also recently weighed in on CVNA. Bank of America increased their price target on Carvana from $385.00 to $455.00 and gave the stock a “buy” rating in a research report on Monday, December 8th. Deutsche Bank Aktiengesellschaft started coverage on Carvana in a report on Friday, November 21st. They set a “buy” rating and a $395.00 target price on the stock. Citigroup boosted their price target on Carvana from $445.00 to $550.00 and gave the company a “buy” rating in a report on Friday, December 12th. Barclays upped their price objective on Carvana from $390.00 to $465.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $425.00 to $490.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Nineteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Carvana presently has a consensus rating of “Moderate Buy” and an average price target of $446.32.

Carvana Stock Performance

CVNA opened at $433.74 on Tuesday. The company has a current ratio of 4.05, a quick ratio of 2.55 and a debt-to-equity ratio of 1.63. Carvana has a 12-month low of $148.25 and a 12-month high of $485.33. The firm has a 50 day moving average of $365.26 and a two-hundred day moving average of $356.30. The firm has a market capitalization of $94.36 billion, a PE ratio of 99.03, a P/E/G ratio of 1.47 and a beta of 3.51.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, October 29th. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.04 billion. During the same quarter in the previous year, the company earned $0.64 EPS. The firm’s revenue was up 54.5% compared to the same quarter last year. On average, analysts anticipate that Carvana will post 2.85 EPS for the current year.

Insider Buying and Selling

In other news, COO Benjamin E. Huston sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $475.00, for a total transaction of $9,500,000.00. Following the completion of the transaction, the chief operating officer directly owned 100,758 shares of the company’s stock, valued at $47,860,050. This represents a 16.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel J. Gill sold 40,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $475.24, for a total value of $19,009,600.00. Following the transaction, the insider owned 191,106 shares in the company, valued at $90,821,215.44. This trade represents a 17.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 574,332 shares of company stock valued at $232,367,702 in the last 90 days. Corporate insiders own 16.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. SJS Investment Consulting Inc. raised its stake in Carvana by 28.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 136 shares of the company’s stock valued at $51,000 after purchasing an additional 30 shares during the last quarter. Warren Street Wealth Advisors LLC grew its holdings in shares of Carvana by 2.8% during the second quarter. Warren Street Wealth Advisors LLC now owns 1,153 shares of the company’s stock worth $388,000 after buying an additional 31 shares in the last quarter. MAI Capital Management raised its position in shares of Carvana by 1.8% in the second quarter. MAI Capital Management now owns 1,757 shares of the company’s stock valued at $592,000 after buying an additional 31 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Carvana by 23.1% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 165 shares of the company’s stock valued at $62,000 after buying an additional 31 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Carvana by 1.7% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,846 shares of the company’s stock worth $622,000 after buying an additional 31 shares in the last quarter. Institutional investors and hedge funds own 56.71% of the company’s stock.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.