Carvana (NYSE:CVNA) Price Target Raised to $210.00 at Bank of America

Carvana (NYSE:CVNA) had its price objective hoisted by Bank of America from $185.00 to $210.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other analysts have also issued reports on the company. BTIG Research boosted their price target on Carvana from $155.00 to $188.00 and gave the company a buy rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price target on Carvana from $160.00 to $200.00 and gave the company a buy rating in a report on Thursday, August 1st. Wedbush boosted their price objective on Carvana from $150.00 to $175.00 and gave the company a neutral rating in a research report on Monday, October 7th. Evercore ISI restated an in-line rating and issued a $178.00 price objective on shares of Carvana in a research report on Thursday, September 26th. Finally, Robert W. Baird started coverage on Carvana in a research report on Thursday, August 1st. They issued a neutral rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus price target of $171.76.

Carvana Stock Up 0.4 %

Carvana stock opened at $192.25 on Wednesday. The firm has a market cap of $38.94 billion, a price-to-earnings ratio of 84.32 and a beta of 3.44. The stock has a fifty day simple moving average of $157.06 and a two-hundred day simple moving average of $125.52. Carvana has a 12 month low of $25.09 and a 12 month high of $194.75. The company has a current ratio of 3.11, a quick ratio of 2.02 and a debt-to-equity ratio of 47.20.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.14 EPS for the quarter. The firm had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.23 billion. Equities analysts predict that Carvana will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carvana news, Director Ira J. Platt sold 664 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $150.00, for a total transaction of $99,600.00. Following the sale, the director now directly owns 30,227 shares of the company’s stock, valued at $4,534,050. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Mark W. Jenkins sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $146.14, for a total transaction of $730,700.00. Following the transaction, the chief financial officer now owns 180,609 shares of the company’s stock, valued at approximately $26,394,199.26. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ira J. Platt sold 664 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $150.00, for a total value of $99,600.00. Following the transaction, the director now directly owns 30,227 shares in the company, valued at approximately $4,534,050. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,749,366 shares of company stock valued at $421,367,909 over the last ninety days. 17.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Empirical Asset Management LLC grew its stake in shares of Carvana by 2.0% during the third quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after buying an additional 100 shares during the last quarter. CWM LLC grew its stake in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after purchasing an additional 144 shares in the last quarter. GAMMA Investing LLC grew its stake in Carvana by 32.8% in the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after purchasing an additional 150 shares in the last quarter. Great Valley Advisor Group Inc. grew its stake in Carvana by 1.8% in the second quarter. Great Valley Advisor Group Inc. now owns 10,358 shares of the company’s stock worth $1,333,000 after purchasing an additional 182 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC bought a new position in Carvana in the third quarter worth approximately $32,000. 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.