Carvana (NYSE:CVNA) Rating Increased to Equal Weight at Morgan Stanley

Carvana (NYSE:CVNA - Get Free Report) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "equal weight" rating in a research report issued on Tuesday, MarketBeat reports. The brokerage currently has a $260.00 target price on the stock, up from their prior target price of $110.00. Morgan Stanley's price objective points to a potential upside of 10.30% from the stock's current price.

A number of other research firms have also recently commented on CVNA. BTIG Research upped their price objective on shares of Carvana from $155.00 to $188.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Citigroup boosted their price objective on Carvana from $125.00 to $195.00 and gave the company a "neutral" rating in a research report on Thursday, October 3rd. Robert W. Baird lifted their price target on shares of Carvana from $160.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Bank of America increased their price objective on shares of Carvana from $185.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price objective on shares of Carvana from $150.00 to $185.00 and gave the company a "hold" rating in a research report on Tuesday, October 22nd. Eleven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $217.71.

Carvana Trading Up 4.3 %

NYSE:CVNA traded up $9.64 on Tuesday, hitting $235.72. 2,326,667 shares of the stock were exchanged, compared to its average volume of 4,818,408. The company has a debt-to-equity ratio of 18.99, a quick ratio of 2.12 and a current ratio of 3.25. Carvana has a 52 week low of $27.75 and a 52 week high of $259.39. The stock has a market capitalization of $48.78 billion, a price-to-earnings ratio of 23,531.00 and a beta of 3.37. The company's 50-day moving average price is $175.69 and its 200 day moving average price is $139.81.

Carvana (NYSE:CVNA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.64 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.41. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.47 billion. The firm's revenue for the quarter was up 31.8% on a year-over-year basis. During the same period last year, the firm earned $0.23 earnings per share. On average, equities research analysts forecast that Carvana will post 0.53 earnings per share for the current year.

Insider Transactions at Carvana

In related news, Director Ira J. Platt sold 12,178 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $130.33, for a total transaction of $1,587,158.74. Following the completion of the sale, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Carvana news, Director Ira J. Platt sold 12,178 shares of the firm's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.33, for a total value of $1,587,158.74. Following the completion of the sale, the director now directly owns 43,229 shares in the company, valued at $5,634,035.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Benjamin E. Huston sold 3,043 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $240.00, for a total transaction of $730,320.00. Following the completion of the transaction, the chief operating officer now owns 218,686 shares of the company's stock, valued at approximately $52,484,640. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,663,934 shares of company stock valued at $453,200,905 in the last quarter. Insiders own 17.18% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Sugarloaf Wealth Management LLC purchased a new position in shares of Carvana in the third quarter valued at $32,000. Capital Performance Advisors LLP bought a new stake in Carvana during the 3rd quarter valued at $40,000. Ridgewood Investments LLC bought a new position in shares of Carvana during the second quarter valued at approximately $32,000. Summit Securities Group LLC increased its holdings in shares of Carvana by 110.0% in the 2nd quarter. Summit Securities Group LLC now owns 300 shares of the company's stock valued at $39,000 after acquiring an additional 3,300 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Carvana by 450.8% during the 2nd quarter. Fifth Third Bancorp now owns 336 shares of the company's stock worth $43,000 after acquiring an additional 275 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.