Carvana Co. (NYSE:CVNA) Given Average Recommendation of “Reduce” by Brokerages
Carvana Co. (NYSE:CVNA – Get Free Report) has been given a consensus rating of “Reduce” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.27.
Several research analysts have recently weighed in on the company. Robert W. Baird upped their target price on Carvana from $10.00 to $45.00 in a research note on Thursday, August 10th. William Blair reaffirmed a “market perform” rating on shares of Carvana in a report on Friday, November 17th. Morgan Stanley cut their target price on shares of Carvana from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Friday, November 17th. BNP Paribas lowered shares of Carvana from an “outperform” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research note on Thursday, October 12th. Finally, Evercore ISI boosted their price objective on Carvana from $40.00 to $42.00 and gave the stock an “in-line” rating in a research note on Friday, September 8th.
Get Our Latest Stock Report on CVNA
Carvana Stock Performance
CVNA stock opened at $35.20 on Friday. Carvana has a one year low of $3.55 and a one year high of $57.19. The firm’s fifty day moving average is $33.49 and its 200 day moving average is $33.91. The firm has a market cap of $7.03 billion, a PE ratio of -5.80 and a beta of 3.09.
Carvana (NYSE:CVNA – Get Free Report) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of ($0.85) by $1.08. The business had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Research analysts predict that Carvana will post -2.67 earnings per share for the current fiscal year.
Insider Activity
In other news, insider Paul W. Breaux sold 20,000 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $49.00, for a total value of $980,000.00. Following the completion of the sale, the insider now owns 165,174 shares of the company’s stock, valued at approximately $8,093,526. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 17.12% of the company’s stock.
Hedge Funds Weigh In On Carvana
Several large investors have recently modified their holdings of the business. Morgan Stanley boosted its position in shares of Carvana by 13.8% during the 3rd quarter. Morgan Stanley now owns 14,756,510 shares of the company’s stock worth $619,478,000 after purchasing an additional 1,784,009 shares during the period. Spruce House Investment Management LLC grew its stake in shares of Carvana by 52.7% in the fourth quarter. Spruce House Investment Management LLC now owns 10,000,000 shares of the company’s stock valued at $47,400,000 after buying an additional 3,450,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Carvana by 46.8% in the 1st quarter. Vanguard Group Inc. now owns 7,297,426 shares of the company’s stock valued at $870,511,000 after buying an additional 2,325,545 shares during the period. Exor Capital LLP acquired a new position in Carvana during the 1st quarter worth about $50,756,000. Finally, FMR LLC boosted its holdings in Carvana by 0.5% during the 3rd quarter. FMR LLC now owns 4,696,510 shares of the company’s stock valued at $197,160,000 after acquiring an additional 24,560 shares during the period. Institutional investors and hedge funds own 56.71% of the company’s stock.
About Carvana (Get Free Report
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.
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Original: MarketBeat News Feed: Carvana Co. (NYSE:CVNA) Given Average Recommendation of “Reduce” by Brokerages