Carvana (NYSE:CVNA) Price Target Lowered to $280.00 at Citigroup

Carvana (NYSE:CVNA - Free Report) had its price target cut by Citigroup from $320.00 to $280.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on CVNA. William Blair restated an "outperform" rating on shares of Carvana in a research note on Thursday, February 20th. Evercore ISI dropped their price target on shares of Carvana from $250.00 to $240.00 and set an "in-line" rating on the stock in a research report on Tuesday, March 11th. DA Davidson increased 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. Wells Fargo & Company dropped their target price on Carvana from $300.00 to $275.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Finally, JMP Securities restated a "market outperform" rating and issued a $320.00 target price on shares of Carvana in a research report on Monday, December 16th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $253.59.

Carvana Stock Performance

NYSE:CVNA traded up $3.25 during mid-day trading on Tuesday, hitting $206.91. The stock had a trading volume of 3,910,828 shares, compared to its average volume of 4,081,404. 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 market capitalization of $44.11 billion, a price-to-earnings ratio of 131.79 and a beta of 3.61. The company has a 50 day simple moving average of $216.20 and a 200-day simple moving average of $220.23.

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Carvana (NYSE:CVNA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.27. Carvana had a return on equity of 36.59% and a net margin of 1.54%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.32 billion. On average, research analysts expect that Carvana will post 2.85 earnings per share for the current fiscal year.

Insider Transactions at Carvana

In other Carvana news, insider Paul W. Breaux sold 1,362 shares of the firm's stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the completion of the sale, the insider now directly owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $63,536,023.70. This trade represents a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 330,810 shares of company stock valued at $69,243,820 over the last ninety days. Corporate insiders own 17.12% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers boosted its stake in shares of Carvana by 5.7% during the 1st quarter. Rhumbline Advisers now owns 208,856 shares of the company's stock valued at $43,668,000 after buying an additional 11,240 shares during the period. GAMMA Investing LLC increased its stake in shares of Carvana by 27,368.4% in the first quarter. GAMMA Investing LLC now owns 215,352 shares of the company's stock worth $45,026,000 after acquiring an additional 214,568 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Carvana by 39.4% during the first quarter. Versant Capital Management Inc now owns 290 shares of the company's stock worth $61,000 after acquiring an additional 82 shares in the last quarter. Wellington Management Group LLP boosted its position in Carvana by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 36,215 shares of the company's stock valued at $7,365,000 after purchasing an additional 1,430 shares during the last quarter. Finally, California State Teachers Retirement System grew its stake in Carvana by 81.5% in the fourth quarter. California State Teachers Retirement System now owns 181,249 shares of the company's stock valued at $36,859,000 after purchasing an additional 81,414 shares in the last quarter. 56.71% of the stock is owned by hedge funds and other institutional investors.

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.