Carvana (NYSE:CVNA) Given New $260.00 Price Target at DA Davidson

Carvana (NYSE:CVNA) had its price target hoisted by DA Davidson from $220.00 to $260.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on CVNA. Evercore ISI upped their price objective on Carvana from $240.00 to $245.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 3rd. Royal Bank of Canada upped their price target on Carvana from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Thursday. Stephens reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Carvana in a report on Thursday, February 6th. William Blair reissued an “outperform” rating on shares of Carvana in a report on Thursday. Finally, Morgan Stanley raised shares of Carvana from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $110.00 to $260.00 in a research note on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and an average target price of $259.00.

Carvana Price Performance

Shares of NYSE:CVNA opened at $248.03 on Thursday. The company has a market capitalization of $51.50 billion, a P/E ratio of 24,827.83 and a beta of 3.37. Carvana has a 1-year low of $48.15 and a 1-year high of $292.84. The firm’s 50 day simple moving average is $234.85 and its two-hundred day simple moving average is $207.18. The company has a debt-to-equity ratio of 18.99, a current ratio of 3.25 and a quick ratio of 2.12.

Carvana (NYSE:CVNA) last released its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.32 billion. Research analysts expect that Carvana will post 0.87 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In other news, insider Paul W. Breaux sold 1,362 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $270.08, for a total value of $367,848.96. Following the sale, the insider now owns 153,240 shares of the company’s stock, valued at approximately $41,387,059.20. This represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total transaction of $8,209,694.70. Following the completion of the sale, the chief financial officer now owns 219,962 shares of the company’s stock, valued at $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 173,629 shares of company stock worth $44,833,799 over the last ninety days. Company insiders own 17.12% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Quent Capital LLC bought a new position in shares of Carvana in the fourth quarter worth about $28,000. Global Retirement Partners LLC boosted its position in Carvana by 109.9% in the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock valued at $30,000 after buying an additional 78 shares during the period. Rialto Wealth Management LLC bought a new position in Carvana in the 4th quarter worth about $31,000. ORG Wealth Partners LLC bought a new position in Carvana in the 4th quarter worth about $34,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Carvana during the third quarter worth approximately $40,000. 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.