Robert W. Baird Increases Carvana (NYSE:CVNA) Price Target to $65.00

Carvana (NYSE:CVNA) had its price target increased by Robert W. Baird from $60.00 to $65.00 in a report released on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target would suggest a potential downside of 8.91% from the stock’s previous close.

A number of other research analysts have also weighed in on CVNA. JMP Securities reissued a “market outperform” rating and set a $80.00 target price on shares of Carvana in a research report on Wednesday. Royal Bank of Canada raised shares of Carvana from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $45.00 to $90.00 in a research report on Friday, March 8th. Evercore ISI cut their target price on shares of Carvana from $78.00 to $77.00 and set an “in-line” rating for the company in a research report on Tuesday, April 16th. Wedbush boosted their target price on shares of Carvana from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Carvana from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $53.87.

Carvana Trading Up 0.3 %

Shares of NYSE:CVNA opened at $71.36 on Friday. The stock has a market capitalization of $14.41 billion, a PE ratio of 132.15 and a beta of 3.32. Carvana has a 1 year low of $6.70 and a 1 year high of $94.04. The firm has a fifty day moving average price of $75.21 and a 200 day moving average price of $52.44.

Carvana (NYSE:CVNA) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.95) by ($0.05). The company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.56 billion. The company’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.97) EPS. On average, sell-side analysts forecast that Carvana will post -3.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the transaction, the insider now owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Ernest C. Garcia II sold 50,000 shares of the stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $80.13, for a total value of $4,006,500.00. Following the completion of the transaction, the insider now owns 3,312,500 shares of the company’s stock, valued at $265,430,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul W. Breaux sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $69.00, for a total transaction of $1,035,000.00. Following the sale, the insider now directly owns 150,126 shares in the company, valued at $10,358,694. The disclosure for this sale can be found here. Insiders sold 187,883 shares of company stock valued at $15,505,178 over the last quarter. Corporate insiders own 17.12% of the company’s stock.

Institutional Trading of Carvana

Large investors have recently added to or reduced their stakes in the company. Blue Trust Inc. bought a new stake in Carvana during the fourth quarter worth about $29,000. Vanguard Group Inc. grew its stake in shares of Carvana by 0.7% during the third quarter. Vanguard Group Inc. now owns 9,367,976 shares of the company’s stock valued at $393,268,000 after purchasing an additional 62,820 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Carvana during the third quarter valued at approximately $2,879,000. Charles Schwab Investment Management Inc. grew its stake in shares of Carvana by 56.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 778,561 shares of the company’s stock valued at $32,684,000 after purchasing an additional 280,851 shares during the last quarter. Finally, TD Asset Management Inc bought a new stake in shares of Carvana during the third quarter valued at approximately $22,906,000. 56.71% of the stock is owned by institutional investors.

About Carvana

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.