Shares of Carvana Co (NYSE:CVNA) have been assigned an average rating of “Hold” from the sixteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.21.

Several brokerages have commented on CVNA. Zacks Investment Research upgraded shares of Carvana from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Monday, October 16th. Robert W. Baird reiterated a “buy” rating and issued a $17.00 price target on shares of Carvana in a research report on Monday, November 20th. Deutsche Bank cut shares of Carvana from a “buy” rating to a “hold” rating and boosted their price target for the stock from $22.00 to $23.50 in a research report on Friday, December 8th. Barrington Research began coverage on shares of Carvana in a research report on Friday, October 27th. They issued a “market perform” rating on the stock. Finally, Wedbush reiterated a “neutral” rating and issued a $14.00 price target (down from $20.00) on shares of Carvana in a research report on Wednesday, November 8th.

Carvana (CVNA) opened at $18.75 on Friday. Carvana has a 1-year low of $8.14 and a 1-year high of $24.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50.

Carvana (NYSE:CVNA) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.30) by $0.01. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. equities analysts forecast that Carvana will post -1.2 earnings per share for the current fiscal year.

In other Carvana news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of Carvana stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN boosted its position in Carvana by 10.8% during the third quarter. Wells Fargo & Company MN now owns 61,623 shares of the company’s stock worth $905,000 after purchasing an additional 5,998 shares during the period. Nationwide Fund Advisors bought a new stake in Carvana during the second quarter worth approximately $177,000. Nordea Investment Management AB bought a new stake in Carvana during the second quarter worth approximately $190,000. JPMorgan Chase & Co. boosted its position in Carvana by 2,272.3% during the third quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock worth $165,000 after purchasing an additional 10,589 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Carvana during the third quarter worth approximately $185,000. 15.18% of the stock is owned by institutional investors and hedge funds.

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Carvana Company Profile

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.

Analyst Recommendations for Carvana (NYSE:CVNA)

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