ValuEngine Downgrades Carvana (CVNA) to Sell

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.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $243.61 million. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. equities research analysts forecast that Carvana will post -1.19 earnings per share for the current year.

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.

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About Carvana

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.

Analyst Recommendations for Carvana (NYSE:CVNA)

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