Jefferies Financial Group Cuts Carvana (NYSE:CVNA) Price Target to $475.00
by Jessica Moore · The Cerbat GemCarvana (NYSE:CVNA – Get Free Report) had its price target decreased by research analysts at Jefferies Financial Group from $485.00 to $475.00 in a research report issued to clients and investors on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s target price would indicate a potential upside of 24.43% from the stock’s current price.
CVNA has been the subject of a number of other reports. Citigroup reduced their price target on shares of Carvana from $550.00 to $465.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Barclays dropped their target price on Carvana from $450.00 to $430.00 and set an “overweight” rating on the stock in a report on Monday, April 6th. BTIG Research decreased their price target on Carvana from $535.00 to $455.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Argus upgraded Carvana to a “strong-buy” rating in a research report on Tuesday, March 3rd. Finally, Royal Bank Of Canada cut their price objective on Carvana from $500.00 to $440.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $435.14.
Read Our Latest Analysis on Carvana
Carvana Trading Up 2.0%
Shares of CVNA stock opened at $381.76 on Tuesday. Carvana has a 1 year low of $194.02 and a 1 year high of $486.89. The firm has a market capitalization of $83.55 billion, a PE ratio of 46.63 and a beta of 3.61. The stock has a fifty day moving average of $330.26 and a two-hundred day moving average of $369.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 2.73 and a current ratio of 4.31.
Carvana shares are going to split on Thursday, May 7th. The 5-1 split was announced on Friday, March 13th. The newly issued shares will be distributed to shareholders after the market closes on Wednesday, May 6th.
Carvana (NYSE:CVNA – Get Free Report) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $4.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $3.12. The business had revenue of $5.60 billion for the quarter, compared to analysts’ expectations of $5.24 billion. Carvana had a net margin of 6.92% and a return on equity of 50.96%. The company’s revenue was up 58.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.56 earnings per share. As a group, research analysts expect that Carvana will post 2.85 EPS for the current year.
Insider Transactions at Carvana
In other news, COO Benjamin E. Huston sold 10,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $411.27, for a total transaction of $4,112,700.00. Following the completion of the sale, the chief operating officer directly owned 98,652 shares of the company’s stock, valued at $40,572,608.04. This trade represents a 9.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Stephen R. Palmer sold 1,000 shares of Carvana stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $393.04, for a total value of $393,040.00. Following the completion of the transaction, the vice president owned 37,192 shares in the company, valued at $14,617,943.68. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,170 shares of company stock valued at $20,020,204 in the last 90 days. 15.19% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Carvana
A number of institutional investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Carvana during the 4th quarter worth about $29,000. Farmers & Merchants Investments Inc. purchased a new position in shares of Carvana in the fourth quarter worth approximately $29,000. ORG Partners LLC raised 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 valued at $33,000 after acquiring an additional 87 shares during the period. Motiv8 Investments LLC purchased a new stake in shares of Carvana in the 4th quarter valued at approximately $33,000. Finally, Salomon & Ludwin LLC boosted its stake in Carvana by 112.5% in the 4th quarter. Salomon & Ludwin LLC now owns 85 shares of the company’s stock worth $37,000 after purchasing an additional 45 shares during the period. Hedge funds and other institutional investors own 56.71% of the company’s stock.
About Carvana
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.