Carvana (CVNA) Sets New 52-Week High and Low at $39.88

Carvana Co. (NYSE:CVNA) hit a new 52-week high and low during mid-day trading on Thursday . The company traded as low as $39.88 and last traded at $39.85, with a volume of 37434 shares. The stock had previously closed at $37.80.

CVNA has been the topic of a number of analyst reports. Barrington Research set a $26.00 price objective on shares of Carvana and gave the stock a “buy” rating in a research note on Monday, May 7th. ValuEngine upgraded shares of Carvana from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Citigroup set a $36.00 price objective on shares of Carvana and gave the stock a “buy” rating in a research note on Thursday, April 26th. B. Riley upgraded shares of Carvana from a “sell” rating to a “buy” rating and increased their price objective for the stock from $20.00 to $38.00 in a research note on Thursday, May 10th. Finally, Deutsche Bank upgraded shares of Carvana from a “hold” rating to a “buy” rating in a research note on Thursday, May 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.81.

The company has a current ratio of 1.29, a quick ratio of 0.58 and a debt-to-equity ratio of 0.52. The company has a market cap of $5.14 billion and a price-to-earnings ratio of -33.40.

Carvana (NYSE:CVNA) last posted its quarterly earnings results on Wednesday, May 9th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.01). Carvana had a negative net margin of 6.09% and a negative return on equity of 30.96%. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $355.85 million. During the same quarter in the previous year, the business posted ($0.28) earnings per share. The company’s revenue for the quarter was up 126.3% on a year-over-year basis. equities research analysts forecast that Carvana Co. will post -1.36 EPS for the current year.

In other news, insider Paul W. Breaux sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $137,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Ernest C. Garcia II sold 1,650,000 shares of the firm’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $26.26, for a total transaction of $43,329,000.00. Following the completion of the sale, the insider now owns 60,937,458 shares in the company, valued at $1,600,217,647.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,320,000 shares of company stock worth $61,134,000. 21.41% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CVNA. Schwab Charles Investment Management Inc. raised its holdings in Carvana by 17.9% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 29,247 shares of the company’s stock valued at $560,000 after buying an additional 4,447 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Carvana by 11.1% in the 4th quarter. Wells Fargo & Company MN now owns 68,448 shares of the company’s stock valued at $1,309,000 after buying an additional 6,825 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Carvana in the 4th quarter valued at approximately $391,000. Virtu Financial LLC raised its holdings in Carvana by 13.7% in the 4th quarter. Virtu Financial LLC now owns 33,253 shares of the company’s stock valued at $636,000 after buying an additional 4,003 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Carvana by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 131,742 shares of the company’s stock valued at $2,518,000 after buying an additional 2,788 shares during the last quarter. Institutional investors and hedge funds own 16.03% of the company’s stock.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying used cars in the United States. The company purchases, reconditions, sells, and delivers vehicles. Its platform allows customers to research and identify a vehicle; inspect it using company's proprietary 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up.

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