Carvana’s (CVNA) Outperform Rating Reiterated at Royal Bank Of Canada

Carvana (NYSE:CVNA)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Friday,Benzinga reports. They presently have a $92.00 price target on the stock. Royal Bank Of Canada’s price target points to a potential upside of 36.91% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Barclays set a $93.00 price target on shares of Carvana and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Morgan Stanley increased their price objective on shares of Carvana from $90.00 to $102.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Evercore boosted their target price on shares of Carvana from $78.00 to $80.00 in a research report on Tuesday, April 28th. JPMorgan Chase & Co. upped their target price on shares of Carvana from $91.00 to $93.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings cut shares of Carvana from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.14.

Carvana Stock Up 1.5%

Shares of NYSE CVNA traded up $1.01 during midday trading on Friday, reaching $67.20. 1,409,643 shares of the company’s stock were exchanged, compared to its average volume of 16,312,721. The company has a debt-to-equity ratio of 1.05, a quick ratio of 2.57 and a current ratio of 4.09. Carvana has a 52-week low of $54.46 and a 52-week high of $97.38. The business’s fifty day moving average price is $70.37 and its two-hundred day moving average price is $75.07. The stock has a market capitalization of $73.70 billion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 10.74 and a beta of 3.45.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The firm had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.12 billion. Analysts forecast that Carvana will post 1.58 EPS for the current year.

Insider Activity

In other Carvana news, VP Stephen R. Palmer sold 5,000 shares of Carvana stock in a transaction on Friday, May 1st. The shares were sold at an average price of $79.06, for a total value of $395,320.00. Following the completion of the transaction, the vice president owned 164,455 shares of the company’s stock, valued at $13,002,470.12. The trade was a 2.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 18,850 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $68.20, for a total transaction of $1,285,570.00. Following the sale, the insider owned 292,820 shares of the company’s stock, valued at approximately $19,970,324. The trade was a 6.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 399,955 shares of company stock valued at $27,855,495 over the last three months. 15.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carvana

A number of institutional investors have recently modified their holdings of the business. Ascentis Independent Advisors bought a new position in Carvana in the first quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Farmers & Merchants Investments Inc. bought a new position in shares of Carvana during the fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Carvana by 152.6% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 96 shares of the company’s stock worth $30,000 after purchasing an additional 58 shares during the period. Finally, Motiv8 Investments LLC acquired a new stake in shares of Carvana during the 4th quarter worth approximately $33,000. Institutional investors 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.