BTIG Research Raises Carvana (NYSE:CVNA) Price Target to $535.00

Carvana (NYSE:CVNA) had its target price lifted by investment analysts at BTIG Research from $450.00 to $535.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 16.49% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. Evercore ISI raised their price target on shares of Carvana from $420.00 to $425.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 23rd. Wedbush increased their price objective on shares of Carvana from $400.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, December 19th. Needham & Company LLC reissued a “buy” rating and issued a $500.00 target price on shares of Carvana in a report on Monday, November 17th. Gordon Haskett lowered their target price on Carvana from $445.00 to $435.00 and set a “hold” rating for the company in a report on Monday, January 5th. Finally, JPMorgan Chase & Co. increased their price target on Carvana from $425.00 to $490.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Nineteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $462.05.

Carvana Stock Performance

Shares of CVNA stock opened at $459.26 on Thursday. The stock has a market capitalization of $99.91 billion, a price-to-earnings ratio of 104.85, a PEG ratio of 1.13 and a beta of 3.54. Carvana has a one year low of $148.25 and a one year high of $485.33. The company’s 50-day simple moving average is $400.36 and its 200-day simple moving average is $370.62. The company has a debt-to-equity ratio of 1.63, a quick ratio of 2.55 and a current ratio of 4.05.

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

Insider Buying and Selling

In other news, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $419.48, for a total transaction of $419,480.00. Following the sale, the vice president owned 38,744 shares of the company’s stock, valued at approximately $16,252,333.12. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel J. Gill sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was 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 of the company’s stock, valued at approximately $90,821,215.44. This represents a 17.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 467,626 shares of company stock valued at $192,090,109 in the last ninety days. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hilltop National Bank bought a new position in Carvana in the 2nd quarter valued at about $25,000. ORG Partners LLC lifted its stake in shares of Carvana by 8,700.0% in the 3rd quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after acquiring an additional 87 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock worth $36,000 after acquiring an additional 96 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in shares of Carvana in the third quarter valued at approximately $38,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of Carvana during the third quarter valued at approximately $38,000. Institutional investors 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.