Carvana (NYSE:CVNA) Given New $435.00 Price Target at Gordon Haskett

Carvana (NYSE:CVNA) had its price target decreased by Gordon Haskett from $445.00 to $435.00 in a report released on Monday,MarketScreener reports. The firm currently has a “hold” rating on the stock. Gordon Haskett’s price target would indicate a potential upside of 7.88% from the stock’s previous close.

CVNA has been the subject of a number of other research reports. DA Davidson set a $360.00 price objective on shares of Carvana in a report on Thursday, October 30th. BTIG Research reissued a “buy” rating and issued a $450.00 price target on shares of Carvana in a report on Friday, December 19th. Jefferies Financial Group upped their price objective on shares of Carvana from $475.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Stephens reiterated an “overweight” rating and set a $440.00 target price on shares of Carvana in a report on Tuesday, September 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $500.00 target price on shares of Carvana in a research note on Monday, November 17th. Nineteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana presently has an average rating of “Moderate Buy” and a consensus price target of $451.14.

Carvana Trading Up 0.7%

CVNA opened at $403.23 on Monday. Carvana has a fifty-two week low of $148.25 and a fifty-two week high of $485.33. The company has a market cap of $87.72 billion, a price-to-earnings ratio of 92.09, a price-to-earnings-growth ratio of 0.95 and a beta of 3.54. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm has a 50 day simple moving average of $380.68 and a 200 day simple moving average of $363.32.

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

Insider Activity at Carvana

In other news, Director Michael E. Maroone sold 30,928 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $400.34, for a total transaction of $12,381,715.52. Following the completion of the transaction, the director directly owned 143,573 shares of the company’s stock, valued at $57,478,014.82. This trade represents a 17.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Benjamin E. Huston sold 40,000 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $439.50, for a total transaction of $17,580,000.00. Following the transaction, the chief operating officer owned 100,758 shares of the company’s stock, valued at $44,283,141. The trade was a 28.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 455,582 shares of company stock valued at $186,714,293 over the last ninety days. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Carvana

A number of large investors have recently added to or reduced their stakes in the company. Hilltop National Bank bought a new stake in shares of Carvana in the 2nd quarter valued at about $25,000. ORG Partners LLC increased its position in Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after buying an additional 87 shares during the last quarter. SJS Investment Consulting Inc. lifted its holdings in Carvana by 960.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after purchasing an additional 96 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Carvana during the third quarter worth $38,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Carvana in the third quarter valued at $38,000. Institutional investors and hedge funds own 56.71% of the company’s stock.

About Carvana

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.