Carvana (NYSE:CVNA) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Friday.
Several other equities analysts also recently commented on the company. Craig Hallum upped their price objective on Carvana from $16.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Robert W. Baird reaffirmed an “outperform” rating and set a $22.00 price objective on shares of Carvana in a research note on Thursday, September 7th. Wedbush reaffirmed a “neutral” rating and set a $18.14 price objective (down from $20.00) on shares of Carvana in a research note on Friday, September 15th. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $16.00 price objective (up from $12.00) on shares of Carvana in a research note on Friday, August 11th. Finally, B. Riley started coverage on Carvana in a research note on Friday, September 22nd. They set a “sell” rating and a $12.00 price objective on the stock. Three analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. Carvana has an average rating of “Hold” and a consensus target price of $19.31.
Carvana (NYSE CVNA) traded up $1.70 during trading hours on Friday, reaching $17.91. The company had a trading volume of 923,048 shares, compared to its average volume of 463,917. The company has a quick ratio of 0.71, a current ratio of 1.50 and a debt-to-equity ratio of 0.07. Carvana has a 1-year low of $8.14 and a 1-year high of $23.70.
Several hedge funds and other institutional investors have recently bought and sold shares of CVNA. JPMorgan Chase & Co. increased its position in shares of Carvana by 2,272.3% during the third quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock valued at $165,000 after acquiring an additional 10,589 shares in the last quarter. Nationwide Fund Advisors purchased a new position in shares of Carvana during the 2nd quarter valued at $177,000. Russell Investments Group Ltd. purchased a new position in shares of Carvana during the 3rd quarter valued at $185,000. ClariVest Asset Management LLC purchased a new position in shares of Carvana during the 2nd quarter valued at $190,000. Finally, Nordea Investment Management AB purchased a new position in shares of Carvana during the 2nd quarter valued at $190,000. 15.20% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This piece was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/12/03/valuengine-downgrades-carvana-cvna-to-sell.html.
Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Carvana Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carvana Co. and related companies with MarketBeat.com's FREE daily email newsletter.