Bank of America Lowers Carvana (NYSE:CVNA) Price Target to $220.00

Carvana (NYSE:CVNA) had its price target decreased by Bank of America from $270.00 to $220.00 in a report released on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other research firms also recently issued reports on CVNA. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Monday, March 3rd. Wedbush set a $250.00 price objective on shares of Carvana and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $340.00 price objective on shares of Carvana in a report on Friday, March 7th. Royal Bank of Canada lifted their target price on shares of Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Carvana from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.71.

Carvana Stock Up 8.8 %

Shares of NYSE:CVNA opened at $181.37 on Friday. The firm has a fifty day moving average price of $228.94 and a two-hundred day moving average price of $213.48. The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. Carvana has a one year low of $67.61 and a one year high of $292.84. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 115.52 and a beta of 3.56.

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

Insider Buying and Selling

In related news, CFO Mark W. Jenkins sold 28,422 shares of the business’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 sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $63,536,023.70. The trade was a 11.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Paul W. Breaux sold 1,362 shares of the business’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 sale, the insider now directly owns 153,240 shares in the company, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,784 shares of company stock valued at $18,599,844 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH purchased a new position in shares of Carvana during the fourth quarter valued at approximately $839,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Carvana during the fourth quarter valued at approximately $36,527,000. Brucke Financial Inc. purchased a new position in shares of Carvana during the fourth quarter valued at approximately $415,000. Mackenzie Financial Corp purchased a new stake in Carvana during the fourth quarter valued at approximately $1,153,000. Finally, Toronto Dominion Bank purchased a new stake in Carvana during the fourth quarter valued at approximately $3,124,000. Institutional investors own 56.71% of the company’s stock.

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.