Carvana (CVNA) Stock Rating Lowered by ValuEngine

Carvana (NYSE:CVNA) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

Several other equities research analysts have also issued reports on CVNA. Wedbush restated a “neutral” rating and issued a $14.00 target price (down previously from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Robert W. Baird reiterated an “outperform” rating and set a $22.00 price objective (down previously from $23.00) on shares of Carvana in a report on Thursday, August 10th. Susquehanna Bancshares reiterated a “neutral” rating and set a $16.00 price objective (up previously from $12.00) on shares of Carvana in a report on Friday, August 11th. Craig Hallum lifted their price objective on shares of Carvana from $16.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 9th. Finally, Consumer Edge reiterated an “outperform” rating and set a $23.00 price objective on shares of Carvana in a report on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.31.

Carvana (NYSE:CVNA) traded up $1.70 during trading on Friday, hitting $17.91. 923,048 shares of the stock traded hands, compared to its average volume of 463,917. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.50 and a quick ratio of 0.71. Carvana has a 12-month low of $8.14 and a 12-month high of $23.70.

Carvana (NYSE:CVNA) last released its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. research analysts forecast that Carvana will post -1.19 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Carvana by 2,272.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock valued at $165,000 after purchasing an additional 10,589 shares during the period. Nationwide Fund Advisors purchased a new position in Carvana during the 2nd quarter valued at about $177,000. Russell Investments Group Ltd. purchased a new position in shares of Carvana in the 3rd quarter worth approximately $185,000. Nordea Investment Management AB purchased a new position in shares of Carvana in the 2nd quarter worth approximately $190,000. Finally, ClariVest Asset Management LLC purchased a new position in shares of Carvana in the 2nd quarter worth approximately $190,000. 15.20% of the stock is currently owned by institutional investors and hedge funds.

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Carvana Company Profile

Carvana Co is an e-commerce platform for buying used cars. On the Company’s platform, consumers can research and identify a vehicle, inspect it using its proprietary 360-degree vehicle imaging technology, obtain financing and warranty coverage, purchase the vehicle and schedule delivery or pick-up, all from their desktop or mobile devices.

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