Carvana (CVNA) Rating Increased to Hold at Zacks Investment Research

Carvana (NYSE:CVNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Carvana Co. provide eCommerce platform for buying used cars. Carvana Co. is headquartered in Phoenix, Arizona. “

A number of other research analysts have also recently commented on the company. ValuEngine raised Carvana from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank cut Carvana from a “buy” rating to a “hold” rating and boosted their price target for the stock from $22.00 to $23.50 in a report on Friday, December 8th. B. Riley reissued a “sell” rating and issued a $12.00 price target on shares of Carvana in a report on Monday, December 4th. Robert W. Baird boosted their price target on Carvana from $17.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, December 5th. Finally, JMP Securities lowered their price target on Carvana from $25.00 to $23.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $19.88.

Carvana (NYSE CVNA) opened at $18.49 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.71 and a current ratio of 1.50. Carvana has a 52 week low of $8.14 and a 52 week high of $24.89. The stock has a market capitalization of $2,450.00 and a P/E ratio of -14.45.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.01. Carvana had a negative return on equity of 153.67% and a negative net margin of 11.81%. The company had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $243.61 million. research analysts predict that Carvana will post -1.2 earnings per share for the current year.

In other news, major shareholder 2014 Fidel Family Trust Dated sold 1,101,624 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $22.65, for a total transaction of $24,951,783.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 21.69% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Carvana by 2,272.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock worth $165,000 after acquiring an additional 10,589 shares in the last quarter. Nationwide Fund Advisors bought a new position in shares of Carvana during the 2nd quarter valued at approximately $177,000. Russell Investments Group Ltd. bought a new position in shares of Carvana during the 3rd quarter valued at approximately $185,000. Nordea Investment Management AB bought a new position in shares of Carvana during the 2nd quarter valued at approximately $190,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Carvana during the 2nd quarter valued at approximately $258,000. 15.12% 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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