Carvana (NYSE:CVNA) Stock Rating Upgraded by Morgan Stanley

Morgan Stanley upgraded shares of Carvana (NYSE:CVNA - Free Report) from an equal weight rating to an overweight rating in a report released on Tuesday, MarketBeat.com reports. Morgan Stanley currently has $280.00 price target on the stock, up from their previous price target of $260.00.

CVNA has been the subject of several other research reports. Robert W. Baird raised their target price on Carvana from $200.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Evercore ISI cut their price objective on Carvana from $250.00 to $240.00 and set an "in-line" rating for the company in a report on Tuesday, March 11th. DA Davidson upped their target price on shares of Carvana from $220.00 to $260.00 and gave the stock a "neutral" rating in a report on Thursday, February 20th. William Blair reiterated an "outperform" rating on shares of Carvana in a research report on Thursday, February 20th. Finally, JMP Securities restated a "market outperform" rating and issued a $320.00 price target on shares of Carvana in a research report on Monday, December 16th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Carvana presently has a consensus rating of "Moderate Buy" and an average target price of $261.53.

Carvana Stock Performance

CVNA stock traded up $0.45 during midday trading on Tuesday, hitting $204.40. The stock had a trading volume of 2,713,100 shares, compared to its average volume of 3,915,977. Carvana has a 52 week low of $67.61 and a 52 week high of $292.84. The company has a current ratio of 3.64, a quick ratio of 2.12 and a debt-to-equity ratio of 3.82. The stock has a 50-day simple moving average of $227.25 and a 200 day simple moving average of $217.50. The firm has a market capitalization of $43.57 billion, a price-to-earnings ratio of 130.19 and a beta of 3.56.

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Carvana (NYSE:CVNA - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.27. Carvana had a net margin of 1.54% and a return on equity of 36.59%. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. As a group, equities research analysts anticipate that Carvana will post 2.85 earnings per share for the current year.

Insider Transactions at Carvana

In other Carvana news, COO Benjamin E. Huston sold 50,000 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $210.35, for a total transaction of $10,517,500.00. Following the completion of the sale, the chief operating officer now directly owns 146,278 shares of the company's stock, valued at approximately $30,769,577.30. The trade was a 25.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 197,377 shares of company stock worth $44,251,096 over the last 90 days. 17.12% of the stock is owned by insiders.

Institutional Trading of Carvana

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC increased its holdings in Carvana by 112.8% in the third quarter. Cerity Partners LLC now owns 4,215 shares of the company's stock valued at $734,000 after purchasing an additional 2,234 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Carvana during the 3rd quarter worth about $217,000. Daiwa Securities Group Inc. bought a new stake in shares of Carvana in the 3rd quarter valued at about $244,000. Harvest Fund Management Co. Ltd raised its position in shares of Carvana by 97.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,489 shares of the company's stock valued at $259,000 after acquiring an additional 735 shares during the period. Finally, Bank of Montreal Can boosted its stake in Carvana by 17.7% during the 3rd quarter. Bank of Montreal Can now owns 239,336 shares of the company's stock worth $40,634,000 after acquiring an additional 35,922 shares during the last quarter. Institutional investors own 56.71% of the company's stock.

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.