Carvana (NYSE:CVNA) Stock Rating Lowered by Argus

Argus downgraded shares of Carvana (NYSE:CVNAGet Rating) from a hold rating to a sell rating in a report released on Monday, Marketbeat reports.

Other analysts also recently issued research reports about the stock. Wells Fargo & Company decreased their target price on shares of Carvana from $30.00 to $25.00 and set an equal weight rating for the company in a research report on Friday, November 4th. Morgan Stanley decreased their target price on shares of Carvana from $75.00 to $68.00 and set an equal weight rating for the company in a research report on Tuesday, October 11th. Oppenheimer downgraded shares of Carvana from an outperform rating to a market perform rating in a research report on Tuesday, November 15th. Needham & Company LLC cut their price target on Carvana from $50.00 to $20.00 and set a buy rating on the stock in a report on Friday, November 4th. Finally, JPMorgan Chase & Co. upgraded Carvana from an underweight rating to a neutral rating and set a $20.00 target price on the stock in a report on Tuesday, November 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $47.00.

Carvana Stock Performance

Carvana stock opened at $8.12 on Monday. The business has a 50 day moving average of $16.70 and a 200-day moving average of $26.43. Carvana has a 1 year low of $6.50 and a 1 year high of $296.70. The company has a debt-to-equity ratio of 17.69, a current ratio of 2.38 and a quick ratio of 1.01. The company has a market capitalization of $1.53 billion, a P/E ratio of -0.91 and a beta of 2.48.

Carvana (NYSE:CVNAGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($2.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.02) by ($0.65). Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $3.64 billion. On average, equities research analysts predict that Carvana will post -9.72 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Daniel J. Gill bought 133,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were acquired at an average cost of $7.62 per share, with a total value of $1,013,460.00. Following the completion of the acquisition, the insider now owns 263,415 shares of the company’s stock, valued at approximately $2,007,222.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Daniel J. Gill bought 133,000 shares of the company’s stock in a transaction on Monday, November 21st. The shares were acquired at an average cost of $7.62 per share, with a total value of $1,013,460.00. Following the completion of the acquisition, the insider now owns 263,415 shares of the company’s stock, valued at approximately $2,007,222.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Maroone purchased 100,000 shares of the stock in a transaction dated Monday, November 7th. The shares were acquired at an average cost of $8.61 per share, for a total transaction of $861,000.00. Following the completion of the acquisition, the director now owns 154,392 shares of the company’s stock, valued at $1,329,315.12. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 251,000 shares of company stock valued at $2,065,760. 10.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Arizona State Retirement System lifted its holdings in Carvana by 3.5% in the first quarter. Arizona State Retirement System now owns 21,442 shares of the company’s stock valued at $2,558,000 after acquiring an additional 735 shares during the period. American Century Companies Inc. lifted its holdings in Carvana by 2.2% in the first quarter. American Century Companies Inc. now owns 303,565 shares of the company’s stock valued at $36,212,000 after acquiring an additional 6,639 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Carvana by 34.4% in the first quarter. Envestnet Asset Management Inc. now owns 43,113 shares of the company’s stock valued at $5,143,000 after acquiring an additional 11,043 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Carvana by 12.4% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 439,402 shares of the company’s stock valued at $9,922,000 after acquiring an additional 48,522 shares during the period. Finally, Compass Financial Advisors LLC increased its position in Carvana by 25.0% in the first quarter. Compass Financial Advisors LLC now owns 3,711 shares of the company’s stock worth $443,000 after buying an additional 743 shares in the last quarter.

About Carvana

(Get Rating)

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. The company's 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.

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