Carvana (NYSE:CVNA) Price Target Lowered to $90.00 at Jefferies Financial Group

Carvana (NYSE:CVNA) had its price target lowered by Jefferies Financial Group from $95.00 to $90.00 in a report published on Tuesday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. DA Davidson lifted their target price on shares of Carvana from $64.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Gordon Haskett increased their price target on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, April 30th. Barclays set a $93.00 price target on shares of Carvana and gave the company an “overweight” rating in a research report on Thursday, May 14th. Citizens Jmp lifted their price objective on shares of Carvana from $92.00 to $103.00 and gave the company a “market outperform” rating in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Carvana from $91.00 to $93.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $92.92.

Carvana Stock Up 8.3%

Shares of CVNA opened at $70.38 on Tuesday. The company has a market capitalization of $77.20 billion, a price-to-earnings ratio of 42.81, a PEG ratio of 10.97 and a beta of 3.46. Carvana has a 52 week low of $54.46 and a 52 week high of $97.38. The stock’s 50-day moving average price is $68.32 and its 200-day moving average price is $72.68. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $0.32 by $1.37. Carvana had a return on equity of 41.46% and a net margin of 6.40%.The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.12 billion. On average, sell-side analysts predict that Carvana will post 1.58 EPS for the current year.

Insider Buying and Selling at Carvana

In related news, CFO Mark W. Jenkins sold 63,750 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $77.44, for a total transaction of $4,936,672.50. Following the completion of the transaction, the chief financial officer owned 1,050,635 shares in the company, valued at $81,359,073.13. This represents a 5.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Benjamin E. Huston sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $76.99, for a total transaction of $3,849,600.00. Following the completion of the transaction, the chief operating officer directly owned 529,810 shares in the company, valued at $40,791,131.52. This represents a 8.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 396,962 shares of company stock valued at $28,525,088. Insiders own 15.19% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of CVNA. Price T Rowe Associates Inc. MD lifted its position in shares of Carvana by 8.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,726,838 shares of the company’s stock valued at $7,481,081,000 after acquiring an additional 1,407,762 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Carvana by 24.7% during the fourth quarter. Vanguard Group Inc. now owns 16,783,101 shares of the company’s stock worth $7,082,804,000 after purchasing an additional 3,328,115 shares in the last quarter. State Street Corp increased its position in shares of Carvana by 93.7% during the fourth quarter. State Street Corp now owns 5,714,779 shares of the company’s stock worth $2,411,751,000 after purchasing an additional 2,764,759 shares in the last quarter. Capital Research Global Investors raised its stake in Carvana by 42.9% in the 4th quarter. Capital Research Global Investors now owns 5,700,953 shares of the company’s stock valued at $2,405,959,000 after purchasing an additional 1,711,144 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Carvana by 55.4% in the 4th quarter. Geode Capital Management LLC now owns 3,880,711 shares of the company’s stock valued at $1,632,763,000 after purchasing an additional 1,382,852 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.