Carvana (NYSE:CVNA) Rating Reiterated by William Blair

Carvana (NYSE:CVNA)‘s stock had its “outperform” rating reissued by equities researchers at William Blair in a note issued to investors on Thursday, RTT News reports.

Several other research firms also recently issued reports on CVNA. Needham & Company LLC reaffirmed a “hold” rating on shares of Carvana in a report on Thursday. Morgan Stanley upped their price objective on shares of Carvana from $32.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. JPMorgan Chase & Co. raised shares of Carvana from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $70.00 to $130.00 in a report on Thursday. Royal Bank of Canada upped their price objective on shares of Carvana from $90.00 to $130.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, Evercore ISI cut their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Carvana presently has an average rating of “Hold” and an average target price of $73.44.

Carvana Stock Up 4.4 %

CVNA stock traded up $5.17 during trading hours on Thursday, hitting $121.67. The company’s stock had a trading volume of 8,528,363 shares, compared to its average volume of 5,397,261. The company has a market capitalization of $24.57 billion, a PE ratio of 53.36 and a beta of 3.28. Carvana has a 12 month low of $6.92 and a 12 month high of $124.20. The stock has a 50 day moving average price of $81.81 and a two-hundred day moving average price of $55.88.

Carvana (NYSE:CVNA) last posted its earnings results on Thursday, February 22nd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.95) by ($0.05). The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.56 billion. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same period last year, the company earned ($0.97) earnings per share. Sell-side analysts expect that Carvana will post -3.32 earnings per share for the current year.

Insider Activity

In other news, CEO Ernest C. Garcia III sold 9,390 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total value of $777,773.70. Following the completion of the transaction, the chief executive officer now owns 861,458 shares in the company, valued at approximately $71,354,566.14. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Ernest C. Garcia III sold 9,390 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $82.83, for a total transaction of $777,773.70. Following the completion of the sale, the chief executive officer now owns 861,458 shares in the company, valued at approximately $71,354,566.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Thomas Taira sold 4,197 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $82.84, for a total transaction of $347,679.48. Following the sale, the insider now owns 164,827 shares of the company’s stock, valued at approximately $13,654,268.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 442,233 shares of company stock worth $38,200,169. 17.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Carvana

A number of hedge funds have recently added to or reduced their stakes in CVNA. Exchange Traded Concepts LLC grew its holdings in Carvana by 59.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 2,687 shares of the company’s stock worth $113,000 after acquiring an additional 1,006 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in Carvana by 12.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,200 shares of the company’s stock worth $806,000 after acquiring an additional 2,100 shares during the last quarter. Xponance Inc. bought a new position in Carvana during the 3rd quarter worth approximately $240,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Carvana by 20.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,324 shares of the company’s stock worth $769,000 after acquiring an additional 3,115 shares during the last quarter. Finally, Mackenzie Financial Corp bought a new position in Carvana during the 3rd quarter worth approximately $236,000. Institutional investors own 56.71% of the company’s stock.

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.