Carvana (NYSE:CVNA) Downgraded by Cowen

Carvana (NYSE:CVNAGet Rating) was downgraded by investment analysts at Cowen from an “outperform” rating to a “market perform” rating in a report issued on Monday, MarketBeat.com reports.

Other equities analysts have also recently issued reports about the stock. Argus cut shares of Carvana from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Financial Group reduced their price target on shares of Carvana from $43.00 to $23.00 and set a “hold” rating on the stock in a research report on Thursday, October 6th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Carvana from $54.00 to $42.00 in a research report on Monday, August 8th. Raymond James raised shares of Carvana from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Finally, Morgan Stanley cut their price objective on shares of Carvana from $75.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $47.00.

Carvana Price Performance

Shares of CVNA stock opened at $8.12 on Monday. Carvana has a 52-week low of $6.50 and a 52-week high of $296.70. The stock has a market cap of $1.53 billion, a PE ratio of -0.91 and a beta of 2.48. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The firm’s 50 day moving average price is $16.70 and its two-hundred day moving average price is $26.43.

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

Insider Transactions at Carvana

In other news, insider Daniel J. Gill acquired 133,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was bought at an average cost of $7.62 per share, for a total transaction of $1,013,460.00. Following the completion of the transaction, the insider now directly owns 263,415 shares in the company, valued at approximately $2,007,222.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Gregory B. Sullivan acquired 8,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $80,000.00. Following the completion of the transaction, the director now directly owns 17,392 shares in the company, valued at approximately $173,920. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Daniel J. Gill bought 133,000 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The shares were bought at an average cost of $7.62 per share, for a total transaction of $1,013,460.00. Following the completion of the purchase, the insider now owns 263,415 shares of the company’s stock, valued at $2,007,222.30. The disclosure for this purchase can be found here. Insiders bought a total of 251,000 shares of company stock worth $2,065,760 over the last three months. 10.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

Carvana Company Profile

(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.

Further Reading

Analyst Recommendations for Carvana (NYSE:CVNA)

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