Carvana (NYSE:CVNA) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of Carvana (NYSE:CVNA) from a buy rating to a hold rating in a research note released on Saturday morning.

Other research analysts have also issued reports about the stock. Stephens reaffirmed an “overweight” rating and issued a $300.00 price target on shares of Carvana in a report on Monday, March 3rd. Evercore ISI upped their price objective on Carvana from $290.00 to $295.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 17th. Bank of America increased their price objective on shares of Carvana from $325.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. dropped their price target on shares of Carvana from $365.00 to $325.00 and set an “overweight” rating on the stock in a research note on Thursday, March 27th. Finally, JMP Securities reduced their price target on Carvana from $340.00 to $275.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.59.

Carvana Trading Up 4.3%

Shares of CVNA opened at $321.06 on Friday. The company has a debt-to-equity ratio of 2.97, a quick ratio of 2.70 and a current ratio of 3.81. Carvana has a one year low of $111.55 and a one year high of $351.43. The stock has a 50-day moving average price of $282.80 and a 200 day moving average price of $242.58. The company has a market capitalization of $68.75 billion, a P/E ratio of 112.65, a P/E/G ratio of 1.25 and a beta of 3.65.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.76. The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $3.94 billion. Carvana had a net margin of 2.68% and a return on equity of 44.86%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. Sell-side analysts forecast that Carvana will post 2.85 EPS for the current fiscal year.

Insider Buying and Selling

In other Carvana news, COO Benjamin E. Huston sold 20,000 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $350.62, for a total transaction of $7,012,400.00. Following the completion of the sale, the chief operating officer now directly owns 138,074 shares in the company, valued at $48,411,505.88. This represents a 12.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $325.16, for a total value of $16,258,000.00. Following the completion of the sale, the insider now directly owns 37,342,317 shares in the company, valued at approximately $12,142,227,795.72. This represents a 0.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,343,166 shares of company stock worth $403,944,081. Insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Yousif Capital Management LLC increased its stake in Carvana by 4.1% in the first quarter. Yousif Capital Management LLC now owns 1,266 shares of the company’s stock valued at $265,000 after acquiring an additional 50 shares during the period. Fidelis Capital Partners LLC grew its position in shares of Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after buying an additional 51 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Carvana by 5.2% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,223 shares of the company’s stock worth $256,000 after purchasing an additional 60 shares during the last quarter. Commerce Bank grew its stake in shares of Carvana by 1.6% during the first quarter. Commerce Bank now owns 4,446 shares of the company’s stock worth $930,000 after purchasing an additional 69 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in Carvana by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 2,227 shares of the company’s stock valued at $466,000 after buying an additional 72 shares during the period. 56.71% of the stock is owned by institutional investors.

About Carvana

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.