Carvana (NYSE:CVNA) Issues Earnings Results

Carvana (NYSE:CVNA) released its quarterly earnings results on Wednesday. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.27, Zacks reports.

Carvana Price Performance

Shares of NYSE CVNA traded down $3.85 during midday trading on Wednesday, hitting $280.68. The stock had a trading volume of 7,250,846 shares, compared to its average volume of 3,690,996. The company has a market capitalization of $58.28 billion, a PE ratio of 28,096.50 and a beta of 3.37. The stock has a 50 day simple moving average of $234.25 and a 200-day simple moving average of $206.38. Carvana has a 1 year low of $48.15 and a 1 year high of $292.84. The company has a quick ratio of 2.12, a current ratio of 3.25 and a debt-to-equity ratio of 18.99.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CVNA shares. Wells Fargo & Company cut their price objective on Carvana from $300.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Robert W. Baird raised their target price on Carvana from $160.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Citigroup raised Carvana from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $277.00 in a report on Wednesday, January 8th. JPMorgan Chase & Co. raised their target price on Carvana from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $110.00 to $260.00 in a report on Tuesday, November 5th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.29.

Insider Activity

In related news, insider Paul W. Breaux sold 1,362 shares of Carvana stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total transaction of $367,848.96. Following the transaction, the insider now owns 153,240 shares in the company, valued at approximately $41,387,059.20. This trade represents a 0.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Mark W. Jenkins sold 28,422 shares of Carvana stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $288.85, for a total value of $8,209,694.70. Following the transaction, the chief financial officer now owns 219,962 shares in the company, valued at approximately $63,536,023.70. The trade was a 11.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,629 shares of company stock worth $44,833,799 over the last quarter. 17.18% of the stock is currently owned by corporate insiders.

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 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.