Carvana (NYSE:CVNA) Stock Rating Upgraded by Piper Sandler

Carvana (NYSE:CVNA) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report issued on Thursday, MarketBeat reports. The firm presently has a $225.00 price objective on the stock. Piper Sandler’s price target would indicate a potential upside of 27.60% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Citigroup boosted their target price on shares of Carvana from $277.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Wells Fargo & Company cut their price objective on shares of Carvana from $300.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, January 6th. DA Davidson lifted their price objective on shares of Carvana from $220.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Carvana from $350.00 to $365.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.71.

Carvana Trading Up 5.9 %

NYSE CVNA opened at $176.34 on Thursday. The company has a market capitalization of $37.59 billion, a PE ratio of 112.32 and a beta of 3.56. The company has a fifty day moving average of $227.84 and a 200 day moving average of $214.38. Carvana has a 1 year low of $67.61 and a 1 year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a net margin of 1.54% and a return on equity of 36.59%. Research analysts forecast that Carvana will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 20,000 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $275.68, for a total transaction of $5,513,600.00. Following the completion of the sale, the chief financial officer now owns 199,962 shares of the company’s stock, valued at approximately $55,125,524.16. This represents a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Benjamin E. Huston sold 50,000 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $178.49, for a total transaction of $8,924,500.00. Following the sale, the chief operating officer now directly owns 196,278 shares of the company’s stock, valued at approximately $35,033,660.22. This represents a 20.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,784 shares of company stock valued at $27,524,344 over the last 90 days. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently bought and sold shares of the business. Eagle Asset Management Inc. acquired a new position in Carvana in the 3rd quarter valued at about $50,531,000. Charles Schwab Investment Management Inc. boosted its holdings in Carvana by 9.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 462,962 shares of the company’s stock valued at $94,148,000 after purchasing an additional 39,089 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Carvana by 135.5% in the 4th quarter. Plato Investment Management Ltd now owns 5,204 shares of the company’s stock valued at $1,062,000 after purchasing an additional 2,994 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Carvana by 37.7% in the 4th quarter. Bank of New York Mellon Corp now owns 478,488 shares of the company’s stock valued at $97,305,000 after purchasing an additional 130,942 shares during the last quarter. Finally, Oak Thistle LLC boosted its holdings in Carvana by 115.9% in the 4th quarter. Oak Thistle LLC now owns 3,238 shares of the company’s stock valued at $658,000 after purchasing an additional 1,738 shares during the last quarter. Hedge funds and other institutional investors own 56.71% of the company’s stock.

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.