Carvana (NYSE:CVNA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Carvana (NYSE:CVNA - Get Free Report) had its price target boosted by investment analysts at Royal Bank of Canada from $280.00 to $320.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price target points to a potential upside of 43.41% from the company's previous close.

A number of other equities analysts have also recently commented on the company. JPMorgan Chase & Co. lifted their target price on Carvana from $300.00 to $350.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Wedbush restated a "neutral" rating and set a $250.00 price objective on shares of Carvana in a report on Thursday, February 6th. Needham & Company LLC boosted their price objective on Carvana from $330.00 to $340.00 and gave the company a "buy" rating in a report on Thursday. JMP Securities restated a "market outperform" rating and set a $320.00 price objective on shares of Carvana in a report on Monday, December 16th. Finally, Wells Fargo & Company dropped their price objective on Carvana from $300.00 to $275.00 and set an "overweight" rating for the company in a report on Monday, January 6th. Nine investment analysts have rated the stock with a hold rating and ten have given 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 a consensus price target of $265.06.

Carvana Trading Down 9.9 %

Shares of Carvana stock traded down $24.58 on Thursday, reaching $223.14. The company had a trading volume of 6,856,676 shares, compared to its average volume of 4,083,558. The firm has a market cap of $46.33 billion, a price-to-earnings ratio of 142.13 and a beta of 3.37. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12. The firm's 50-day moving average price is $234.35 and its two-hundred day moving average price is $207.79. Carvana has a 1 year low of $49.38 and a 1 year high of $292.84.

Carvana (NYSE:CVNA - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion during the quarter, compared to analysts' expectations of $3.32 billion. Carvana had a return on equity of 446.67% and a net margin of 1.54%. As a group, research analysts predict that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In related news, CFO Mark W. Jenkins sold 28,422 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares of the company's stock, valued at $63,536,023.70. This represents a 11.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Daniel J. Gill sold 44,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $259.47, for a total value of $11,416,680.00. Following the transaction, the insider now directly owns 191,225 shares in the company, valued at $49,617,150.75. This represents a 18.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 173,629 shares of company stock valued at $44,833,799. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC increased its position in Carvana by 3.4% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company's stock valued at $313,000 after buying an additional 51 shares in the last quarter. Bleakley Financial Group LLC increased its position in Carvana by 2.8% during the 4th quarter. Bleakley Financial Group LLC now owns 2,373 shares of the company's stock valued at $483,000 after buying an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Carvana by 21.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company's stock valued at $87,000 after purchasing an additional 74 shares during the last quarter. Forum Financial Management LP grew its stake in Carvana by 3.8% during the 3rd quarter. Forum Financial Management LP now owns 2,071 shares of the company's stock valued at $361,000 after purchasing an additional 76 shares during the last quarter. Finally, Great Lakes Advisors LLC grew its stake in Carvana by 2.1% during the 4th quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company's stock valued at $752,000 after purchasing an additional 77 shares during the last quarter. 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.