Stock for Carvana has recently been given a general recommendation to "buy" after fourteen different market analysts that overview Carvana decided. Five of the analysts gave Caravana's stock a rating of hold, and the other nine gave the company a buy rating. The average year long target price between the analysts that last reported on the stock is around $25.70.
A number of brokerages recently issued reports on CVNA. Citigroup set a $36.00 price objective on shares of Carvana and gave the company a “buy” rating in a report recently. Zacks Investment Research raised shares of Carvana from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Barrington Research reissued a “hold” rating on shares of Carvana in a research report on Friday, March 2nd. Craig Hallum set a $28.00 price target on shares of Carvana and gave the company a “hold” rating in a research report on Tuesday, April 24th. Finally, ValuEngine raised shares of Carvana from a “hold” rating to a “buy” rating in a research report on Thursday, May 3rd.
CVNA opened at $28.17 on Monday. Carvana has a 1-year low of $8.85 and a 1-year high of $31.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.58.
Carvana last posted its quarterly earnings results on Wednesday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Carvana had a negative net margin of 6.09% and a negative return on equity of 30.96%. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $355.85 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. The company’s revenue for the quarter was up 126.3% on a year-over-year basis. sell-side analysts predict that Carvana will post -1.35 earnings per share for the current year.
In other news, major shareholder Goodnow Investment Group, Llc acquired 81,000 shares of the business’s stock in a transaction on Friday, March 9th. The shares were purchased at an average cost of $18.23 per share, with a total value of $1,476,630.00. The transaction was disclosed in a legal filing with the SEC, which is available through their site. Also, major shareholder Ernest C. Garcia II sold 1,650,000 shares of Carvana stock in a transaction on Monday, May 14th. The stock was sold at an average price of $26.26, for a total transaction of $43,329,000.00. Following the transaction, the insider now directly owns 60,937,458 shares in the company, valued at $1,600,217,647.08. Insiders have sold a total of 2,320,000 shares of company stock worth $61,134,000 over the last ninety days. Insiders own 21.41% of the company’s stock.
Those investing and hedge funds have begun to buy and sell stock in the company. Geode Capital Management LLC recently added to their shares of Carvana by 2.2% in the latest financial quarter. They now have 131, 742 shares in Carvana which is valued at around $2,518,000 after adding the extra 2,788 shares recently. Virtu Financial LLC also bolstered their share of shares in Caravan by adding an additional 13.7% and now own 33,253 shares in the business which is valued at $636,000 after they added 4,003 shares of stock recently. Schwab Charles Investment Management Inc added to their holdings by another 17.9% bringing their shares to 29,247 which is worth about $560,000 after those recent purchases. Wells Fargo & Company MN added to their holdings by 11.1% bringing them up to 68,448 shares worth $1,309,000 after adding 6,825 shares. And MetLife Investment Advisors LLC invested in Carvana for the first time recently which was worth around $133,00. Nearly 16.03% of Carvana's shares are held by hedge fund and other investing institutions.
Edited by M. Hunt