Carvana Co. (NYSE:CVNA) Receives $222.71 Average Price Target from Analysts

Carvana Co. (NYSE:CVNA - Get Free Report) has received a consensus recommendation of "Hold" from the nineteen ratings firms that are covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $222.71.

Several analysts have weighed in on CVNA shares. Jefferies Financial Group boosted their price objective on Carvana from $150.00 to $185.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on Carvana from $230.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Evercore ISI boosted their target price on Carvana from $240.00 to $245.00 and gave the stock an "in-line" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada raised shares of Carvana to a "sector perform" rating and boosted their price target for the company from $166.00 to $170.00 in a report on Monday, August 19th. Finally, Wedbush lifted their target price on Carvana from $150.00 to $175.00 and gave the stock a "neutral" rating in a report on Monday, October 7th.

Carvana Price Performance

CVNA traded up $14.43 during trading on Wednesday, hitting $250.95. The company's stock had a trading volume of 2,746,474 shares, compared to its average volume of 4,568,415. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99. The stock has a market capitalization of $52.10 billion, a price-to-earnings ratio of 23,646.50 and a beta of 3.32. The firm's 50 day moving average price is $224.38 and its two-hundred day moving average price is $166.35. Carvana has a 12 month low of $37.47 and a 12 month high of $268.34.

Carvana (NYSE:CVNA - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.41. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The firm's quarterly revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.23 EPS. Sell-side analysts forecast that Carvana will post 0.76 earnings per share for the current fiscal year.

Insider Activity at Carvana

In other Carvana news, insider Paul W. Breaux sold 14,548 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $198.00, for a total transaction of $2,880,504.00. Following the transaction, the insider now owns 119,494 shares in the company, valued at $23,659,812. This trade represents a 10.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of Carvana stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $155.00, for a total transaction of $15,500,000.00. Following the completion of the sale, the insider now owns 40,058,131 shares of the company's stock, valued at $6,209,010,305. This trade represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,022,063 shares of company stock worth $383,108,209. Company insiders own 17.12% of the company's stock.

Institutional Investors Weigh In On Carvana

A number of large investors have recently bought and sold shares of CVNA. Ridgewood Investments LLC acquired a new stake in shares of Carvana during the 2nd quarter worth approximately $32,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of Carvana in the 3rd quarter valued at $32,000. Summit Securities Group LLC raised its holdings in shares of Carvana by 110.0% during the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company's stock worth $39,000 after buying an additional 3,300 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Carvana during the 3rd quarter worth $40,000. Finally, Fifth Third Bancorp boosted its stake in Carvana by 450.8% in the second quarter. Fifth Third Bancorp now owns 336 shares of the company's stock valued at $43,000 after buying an additional 275 shares in the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.