Carvana (NYSE:CVNA) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Carvana (NYSE:CVNA) from an underweight rating to an equal weight rating in a research note published on Tuesday morning, MarketBeat Ratings reports. The firm currently has $260.00 target price on the stock, up from their previous target price of $110.00.

Several other brokerages have also weighed in on CVNA. Robert W. Baird raised their price objective on shares of Carvana from $160.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. TD Cowen raised their price target on shares of Carvana from $110.00 to $148.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their price objective on shares of Carvana from $150.00 to $185.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Needham & Company LLC increased their target price on shares of Carvana from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, DA Davidson boosted their target price on shares of Carvana from $110.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Eleven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $217.71.

Carvana Trading Up 4.3 %

Carvana stock opened at $235.78 on Tuesday. Carvana has a 12 month low of $27.75 and a 12 month high of $259.39. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market cap of $48.79 billion, a P/E ratio of 23,578.00 and a beta of 3.37. The company’s fifty day simple moving average is $175.69 and its 200-day simple moving average is $139.81.

Carvana (NYSE:CVNA) last issued its earnings results on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.41. The firm had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter last year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Carvana will post 0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the completion of the sale, the director now directly owns 30,227 shares in the company, valued at $4,534,050. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Carvana news, Director Ira J. Platt sold 664 shares of Carvana stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the transaction, the director now directly owns 30,227 shares of the company’s stock, valued at approximately $4,534,050. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 30,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $240.22, for a total transaction of $7,206,600.00. Following the completion of the sale, the insider now directly owns 135,025 shares in the company, valued at approximately $32,435,705.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,663,934 shares of company stock worth $453,200,905 over the last ninety days. Corporate insiders own 17.18% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in shares of Carvana in the second quarter valued at approximately $32,000. Sugarloaf Wealth Management LLC purchased a new stake in Carvana in the 3rd quarter worth about $32,000. Summit Securities Group LLC raised its stake in Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 3,300 shares during the period. Capital Performance Advisors LLP purchased a new stake in Carvana during the third quarter valued at about $40,000. Finally, Fifth Third Bancorp lifted its holdings in Carvana by 450.8% during the second quarter. Fifth Third Bancorp now owns 336 shares of the company’s stock valued at $43,000 after purchasing an additional 275 shares during the last quarter. Institutional investors own 56.71% of the company’s stock.

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.