Carvana (NYSE:CVNA) Stock Price Up 8.3% – Time to Buy?

Carvana Co. (NYSE:CVNA) rose 8.3% during trading on Monday . The company traded as high as $187.00 and last traded at $176.03. Approximately 1,880,589 shares traded hands during trading, a decline of 53% from the average daily volume of 3,991,592 shares. The stock had previously closed at $162.57.

Analyst Ratings Changes

Several equities analysts recently weighed in on CVNA shares. Wedbush set a $250.00 price target on shares of Carvana and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Bank of America reduced their target price on shares of Carvana from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, March 14th. JMP Securities reaffirmed a “market outperform” rating and issued a $320.00 price target on shares of Carvana in a report on Monday, December 16th. Morgan Stanley raised Carvana from an “underweight” rating to an “overweight” rating in a report on Monday, March 31st. Finally, William Blair restated an “outperform” rating on shares of Carvana in a research note on Thursday, February 20th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Carvana has a consensus rating of “Moderate Buy” and a consensus price target of $258.59.

Carvana Trading Up 3.1 %

The company has a debt-to-equity ratio of 3.82, a current ratio of 3.64 and a quick ratio of 2.12. The stock has a market cap of $35.73 billion, a P/E ratio of 106.75 and a beta of 3.61. The firm’s fifty day moving average price is $221.99 and its two-hundred day moving average price is $219.74.

Carvana (NYSE:CVNA) last announced its earnings results on Wednesday, February 19th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.32 billion. Carvana had a return on equity of 36.59% and a net margin of 1.54%. As a group, equities research analysts forecast that Carvana Co. will post 2.85 EPS for the current year.

Insider Buying and Selling at Carvana

In other news, CFO Mark W. Jenkins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $250.12, for a total transaction of $2,501,200.00. Following the transaction, the chief financial officer now directly owns 219,962 shares in the company, valued at approximately $55,016,895.44. This represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul W. Breaux sold 1,362 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $270.08, for a total value of $367,848.96. Following the completion of the sale, the insider now owns 153,240 shares of the company’s stock, valued at $41,387,059.20. The trade was a 0.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 280,810 shares of company stock worth $61,698,820 over the last three months. 17.12% of the stock is owned by insiders.

Hedge Funds Weigh In On Carvana

Several institutional investors and hedge funds have recently made changes to their positions in CVNA. Quent Capital LLC bought a new position in shares of Carvana during the fourth quarter valued at about $28,000. Global Retirement Partners LLC grew its position in Carvana by 109.9% during the 4th quarter. Global Retirement Partners LLC now owns 149 shares of the company’s stock worth $30,000 after acquiring an additional 78 shares during the last quarter. Rialto Wealth Management LLC bought a new position in Carvana during the 4th quarter worth approximately $31,000. ORG Wealth Partners LLC purchased a new position in Carvana in the 4th quarter worth approximately $34,000. Finally, Versant Capital Management Inc bought a new stake in Carvana in the fourth quarter valued at approximately $42,000. Institutional investors own 56.71% of the company’s stock.

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.