Carvana Co. (NYSE:CVNA) Given Consensus Recommendation of “Hold” by Brokerages

Carvana Co. (NYSE:CVNA) has received an average recommendation of “Hold” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $87.29.

Several brokerages have weighed in on CVNA. Wedbush increased their target price on Carvana from $80.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Wells Fargo & Company increased their target price on Carvana from $60.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 2nd. JMP Securities increased their target price on Carvana from $135.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th. Jefferies Financial Group raised Carvana from an “underperform” rating to a “hold” rating and increased their target price for the stock from $30.00 to $85.00 in a research report on Tuesday, March 12th. Finally, Evercore ISI raised their price target on Carvana from $111.00 to $118.00 and gave the company an “in-line” rating in a report on Thursday.

Insider Activity at Carvana

In other Carvana news, insider Thomas Taira sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $110.35, for a total transaction of $2,207,000.00. Following the completion of the sale, the insider now directly owns 186,397 shares in the company, valued at approximately $20,568,908.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Carvana news, major shareholder Ernest C. Garcia II sold 75,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $125.43, for a total transaction of $9,407,250.00. Following the completion of the sale, the insider now directly owns 2,917,500 shares in the company, valued at approximately $365,942,025. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Taira sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $110.35, for a total value of $2,207,000.00. Following the sale, the insider now directly owns 186,397 shares of the company’s stock, valued at $20,568,908.95. The disclosure for this sale can be found here. Insiders sold 1,581,829 shares of company stock worth $167,561,683 in the last quarter. 17.12% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carvana

Hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. purchased a new stake in shares of Carvana during the 4th quarter worth about $29,000. Plato Investment Management Ltd purchased a new stake in shares of Carvana during the 1st quarter worth about $55,000. Parallel Advisors LLC raised its stake in shares of Carvana by 39.0% during the 4th quarter. Parallel Advisors LLC now owns 692 shares of the company’s stock worth $37,000 after purchasing an additional 194 shares in the last quarter. Hanseatic Management Services Inc. purchased a new stake in shares of Carvana during the 3rd quarter worth about $34,000. Finally, Tidemark LLC purchased a new stake in shares of Carvana during the 4th quarter worth about $50,000. 56.71% of the stock is owned by hedge funds and other institutional investors.

Carvana Trading Up 2.9 %

Shares of NYSE CVNA opened at $112.99 on Wednesday. Carvana has a twelve month low of $20.60 and a twelve month high of $129.00. The company has a market capitalization of $22.89 billion, a price-to-earnings ratio of 49.56 and a beta of 3.29. The business has a 50 day simple moving average of $102.06 and a 200-day simple moving average of $75.64.

Carvana (NYSE:CVNA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.35. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.72 billion. As a group, equities analysts predict that Carvana will post -0.75 earnings per share for the current year.

Carvana Company Profile

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.