Argus Begins Coverage on Carvana (NYSE:CVNA)

Argus started coverage on shares of Carvana (NYSE:CVNA) in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $500.00 price target on the stock. Argus’ target price indicates a potential upside of 9.75% from the company’s previous close.

A number of other equities analysts also recently issued reports on CVNA. Barclays upped their price target on Carvana from $390.00 to $465.00 and gave the company an “overweight” rating in a report on Wednesday, December 10th. Evercore ISI boosted their price objective on shares of Carvana from $395.00 to $420.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 9th. Wedbush raised shares of Carvana from a “neutral” rating to an “outperform” rating and increased their target price for the company from $380.00 to $400.00 in a research report on Monday, November 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Carvana in a research note on Monday, December 1st. Finally, UBS Group started coverage on shares of Carvana in a research report on Monday, December 1st. They issued a “buy” rating and a $450.00 price target for the company. Nineteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $441.55.

Carvana Stock Performance

NYSE:CVNA opened at $455.60 on Monday. Carvana has a 12 month low of $148.25 and a 12 month high of $485.33. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.05 and a quick ratio of 2.55. The firm has a market capitalization of $99.11 billion, a PE ratio of 104.02, a price-to-earnings-growth ratio of 1.62 and a beta of 3.51. The business’s fifty day moving average price is $357.11 and its 200 day moving average price is $353.22.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.26). Carvana had a return on equity of 30.62% and a net margin of 3.44%.The business had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.04 billion. During the same period last year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 54.5% on a year-over-year basis. On average, sell-side analysts anticipate that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, insider Daniel J. Gill sold 80,000 shares of Carvana stock in a transaction on Monday, December 8th. The shares were sold at an average price of $439.50, for a total value of $35,160,000.00. Following the transaction, the insider directly owned 191,106 shares in the company, valued at approximately $83,991,087. The trade was a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Thomas Taira sold 30,952 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $435.96, for a total transaction of $13,493,833.92. Following the completion of the sale, the insider directly owned 69,880 shares of the company’s stock, valued at $30,464,884.80. The trade was a 30.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 614,332 shares of company stock worth $247,844,442 in the last three months. Company insiders own 16.36% of the company’s stock.

Institutional Trading of Carvana

Hedge funds have recently added to or reduced their stakes in the stock. Hilltop National Bank acquired a new position in shares of Carvana in the second quarter valued at approximately $25,000. ORG Partners LLC lifted its holdings in shares of Carvana by 8,700.0% during the third quarter. ORG Partners LLC now owns 88 shares of the company’s stock worth $33,000 after purchasing an additional 87 shares during the period. Washington Trust Advisors Inc. purchased a new position in Carvana in the 3rd quarter valued at $38,000. Steigerwald Gordon & Koch Inc. acquired a new position in Carvana in the 3rd quarter valued at $38,000. Finally, SJS Investment Consulting Inc. increased its stake in Carvana by 960.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 106 shares of the company’s stock valued at $36,000 after buying an additional 96 shares during the period. 56.71% of the stock is owned by institutional investors and hedge funds.

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.