Royal Bank of Canada Issues Positive Forecast for Carvana (NYSE:CVNA) Stock Price

Carvana (NYSE:CVNA) had its target price lifted by Royal Bank of Canada from $280.00 to $320.00 in a research note issued to investors on Thursday morning, Marketbeat reports. The firm currently has an outperform rating on the stock.

Other equities research analysts have also issued research reports about the stock. JMP Securities restated a “market outperform” rating and issued a $320.00 target price on shares of Carvana in a report on Monday, December 16th. Evercore ISI raised their price objective on shares of Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Citigroup upgraded Carvana from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $277.00 in a research report on Wednesday, January 8th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Carvana in a report on Thursday, February 6th. Finally, Morgan Stanley upgraded Carvana from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $110.00 to $260.00 in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $265.06.

Carvana Trading Down 9.9 %

Shares of NYSE CVNA opened at $223.14 on Thursday. Carvana has a 1-year low of $49.38 and a 1-year high of $292.84. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The business’s 50 day moving average is $234.35 and its two-hundred day moving average is $208.28. The stock has a market capitalization of $46.33 billion, a P/E ratio of 142.13 and a beta of 3.37.

Carvana (NYSE:CVNA) last released 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. The firm had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, research analysts expect that Carvana will post 2.85 EPS for the current year.

Insider Activity

In related news, insider Daniel J. Gill sold 44,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $259.47, for a total transaction of $11,416,680.00. Following the sale, the insider now owns 191,225 shares of the company’s stock, valued at $49,617,150.75. This trade represents a 18.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ryan S. Keeton sold 24,845 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $247.90, for a total transaction of $6,159,075.50. Following the completion of the transaction, the insider now owns 151,029 shares of the company’s stock, valued at $37,440,089.10. This represents a 14.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,629 shares of company stock worth $44,833,799. Corporate insiders own 17.12% of the company’s stock.

Institutional Investors Weigh In On Carvana

Several institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC increased its position in shares of Carvana by 3.4% during the fourth quarter. Fidelis Capital Partners LLC now owns 1,541 shares of the company’s stock worth $313,000 after purchasing 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 raised its stake in Carvana by 21.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 426 shares of the company’s stock valued at $87,000 after buying an additional 74 shares during the last quarter. Forum Financial Management LP boosted its holdings in Carvana by 3.8% in the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares in the last quarter. Finally, Great Lakes Advisors LLC grew its stake in shares of Carvana by 2.1% during the fourth quarter. Great Lakes Advisors LLC now owns 3,698 shares of the company’s stock worth $752,000 after acquiring an additional 77 shares during the last quarter. 56.71% of the stock is currently owned by institutional investors and hedge funds.

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.