Carvana (NYSE:CVNA) Receives Buy Rating from Citigroup

Citigroup reaffirmed their buy rating on shares of Carvana (NYSE:CVNA) in a report released on Thursday, The Fly reports. Citigroup currently has a $95.00 price target on the stock, up from their prior price target of $90.00.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Several other research firms have also recently commented on CVNA. JPMorgan Chase & Co. assumed coverage on shares of Carvana in a research note on Thursday, September 26th. They issued a neutral rating and a $75.00 target price for the company. Oppenheimer assumed coverage on shares of Carvana in a research note on Thursday, September 19th. They issued an outperform rating and a $95.00 target price for the company. JMP Securities raised their target price on shares of Carvana from $64.00 to $80.00 and gave the stock an outperform rating in a research note on Thursday, August 8th. ValuEngine cut shares of Carvana from a hold rating to a sell rating in a research note on Friday, October 4th. Finally, Morgan Stanley restated an underweight rating and issued a $30.00 target price (up previously from $29.00) on shares of Carvana in a research note on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $79.40.

Carvana stock traded up $4.84 during midday trading on Thursday, hitting $77.96. 1,733,233 shares of the company’s stock were exchanged, compared to its average volume of 1,693,685. Carvana has a 12-month low of $28.44 and a 12-month high of $85.97. The company has a debt-to-equity ratio of 2.10, a quick ratio of 1.40 and a current ratio of 3.83. The stock has a market cap of $11.00 billion, a price-to-earnings ratio of -45.06 and a beta of 2.20. The firm’s 50 day simple moving average is $74.12 and its 200 day simple moving average is $70.02.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.17). Carvana had a negative return on equity of 30.55% and a negative net margin of 3.49%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $997.46 million. During the same period in the previous year, the business posted ($0.40) earnings per share. The company’s revenue for the quarter was up 104.7% on a year-over-year basis. On average, equities research analysts forecast that Carvana will post -1.82 EPS for the current fiscal year.

In related news, Director Ira J. Platt sold 14,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $79.58, for a total value of $1,114,120.00. Following the completion of the sale, the director now owns 32,863 shares in the company, valued at $2,615,237.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira J. Platt sold 10,700 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $84.51, for a total transaction of $904,257.00. Following the completion of the sale, the director now owns 33,082 shares of the company’s stock, valued at approximately $2,795,759.82. The disclosure for this sale can be found here. Insiders sold a total of 99,000 shares of company stock valued at $8,004,447 in the last 90 days. Company insiders own 13.02% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its position in Carvana by 2.6% during the second quarter. D.A. Davidson & CO. now owns 5,700 shares of the company’s stock worth $357,000 after acquiring an additional 145 shares during the last quarter. Boyd Watterson Asset Management LLC OH raised its position in Carvana by 1.5% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 12,750 shares of the company’s stock worth $842,000 after acquiring an additional 188 shares during the last quarter. Keybank National Association OH raised its position in Carvana by 2.5% during the second quarter. Keybank National Association OH now owns 9,999 shares of the company’s stock worth $626,000 after acquiring an additional 240 shares during the last quarter. Natixis Advisors L.P. raised its position in Carvana by 2.4% during the second quarter. Natixis Advisors L.P. now owns 12,304 shares of the company’s stock worth $770,000 after acquiring an additional 293 shares during the last quarter. Finally, Resources Investment Advisors LLC. raised its position in Carvana by 150.0% during the second quarter. Resources Investment Advisors LLC. now owns 500 shares of the company’s stock worth $31,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 37.06% 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 proprietary 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.

Read More: Bond

The Fly

Analyst Recommendations for Carvana (NYSE:CVNA)

Leave a Reply

Your email address will not be published. Required fields are marked *

*