Carvana (NYSE:CVNA) had its price objective lifted by stock analysts at Morgan Stanley from $21.00 to $22.00 in a research report issued to clients and investors on Tuesday, BenzingaRatingsTable reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 65.94% from the company’s previous close.

A number of other equities research analysts also recently issued reports on CVNA. Robert W. Baird lifted their price target on shares of Carvana from $65.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, May 9th. B. Riley restated a “buy” rating on shares of Insight Enterprises in a research report on Monday, April 29th. Wells Fargo & Co restated a “buy” rating and set a $85.00 price objective on shares of Carvana in a research report on Monday, July 1st. Barrington Research downgraded Carvana from an “outperform” rating to a “market perform” rating in a research report on Wednesday, April 3rd. Finally, Citigroup upgraded Copa from a “neutral” rating to a “buy” rating in a research report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.92.

NYSE:CVNA traded down $3.06 during mid-day trading on Tuesday, reaching $64.59. The stock had a trading volume of 1,940,924 shares, compared to its average volume of 1,718,446. The company has a quick ratio of 0.56, a current ratio of 1.39 and a debt-to-equity ratio of 2.73. The stock has a market cap of $9.94 billion, a price-to-earnings ratio of -37.34 and a beta of 2.41. Carvana has a twelve month low of $28.44 and a twelve month high of $76.85. The firm’s 50 day moving average price is $62.45.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.03). Carvana had a negative net margin of 3.54% and a negative return on equity of 30.85%. The firm had revenue of $755.23 million during the quarter, compared to analyst estimates of $696.61 million. On average, equities research analysts forecast that Carvana will post -1.82 earnings per share for the current year.

In other news, insider Paul W. Breaux sold 12,500 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $59.05, for a total transaction of $738,125.00. Following the completion of the sale, the insider now directly owns 10,628 shares of the company’s stock, valued at approximately $627,583.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 10,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $62.72, for a total transaction of $627,200.00. Following the sale, the insider now directly owns 10,628 shares of the company’s stock, valued at $666,588.16. The disclosure for this sale can be found here. Insiders sold a total of 2,114,002 shares of company stock valued at $136,910,749 over the last ninety days. 13.02% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Hennessy Advisors Inc. bought a new stake in shares of Carvana during the 2nd quarter valued at about $2,892,000. Chicago Capital LLC grew its position in Carvana by 0.4% in the 2nd quarter. Chicago Capital LLC now owns 255,173 shares of the company’s stock worth $15,971,000 after purchasing an additional 891 shares during the last quarter. First Trust Advisors LP grew its position in Carvana by 1.4% in the 1st quarter. First Trust Advisors LP now owns 201,433 shares of the company’s stock worth $11,695,000 after purchasing an additional 2,815 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its position in Carvana by 21.2% in the 1st quarter. Lombard Odier Asset Management USA Corp now owns 302,990 shares of the company’s stock worth $17,592,000 after purchasing an additional 52,990 shares during the last quarter. Finally, Clearbridge Investments LLC grew its position in Carvana by 2.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,813,468 shares of the company’s stock worth $105,290,000 after purchasing an additional 51,614 shares during the last quarter. 35.90% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for Carvana (NYSE:CVNA)

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