Carvana (NYSE:CVNA) Stock Rating Lowered by Argus

Argus cut shares of Carvana (NYSE:CVNAGet Rating) from a hold rating to a sell rating in a research report released on Monday, Marketbeat Ratings reports.

A number of other research analysts have also weighed in on CVNA. Deutsche Bank Aktiengesellschaft cut their price target on shares of Carvana from $54.00 to $42.00 in a research note on Monday, August 8th. Morgan Stanley lowered their price objective on shares of Carvana from $75.00 to $68.00 and set an equal weight rating on the stock in a report on Tuesday, October 11th. Oppenheimer downgraded shares of Carvana from an outperform rating to a market perform rating in a report on Tuesday, November 15th. Royal Bank of Canada lowered their price objective on shares of Carvana from $85.00 to $35.00 and set a sector perform rating on the stock in a report on Friday, August 5th. Finally, Raymond James upgraded shares of Carvana from an underperform rating to a market perform rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Carvana has an average rating of Hold and a consensus target price of $47.00.

Carvana Stock Performance

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

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). Carvana had a negative net margin of 5.99% and a negative return on equity of 191.74%. The company had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.64 billion. On average, analysts forecast that Carvana will post -9.72 EPS for the current fiscal year.

Insider Buying and Selling at Carvana

In related news, insider Thomas Taira acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were purchased at an average cost of $11.13 per share, for a total transaction of $111,300.00. Following the completion of the acquisition, the insider now directly owns 42,518 shares in the company, valued at $473,225.34. The purchase was disclosed in a filing with the SEC, which is available at this link. In related news, insider Thomas Taira acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were purchased at an average cost of $11.13 per share, for a total transaction of $111,300.00. Following the completion of the acquisition, the insider now directly owns 42,518 shares in the company, valued at $473,225.34. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael E. Maroone acquired 100,000 shares of the firm’s stock in a transaction on Monday, November 7th. The stock was bought at an average price of $8.61 per share, for a total transaction of $861,000.00. Following the completion of the acquisition, the director now owns 154,392 shares of the company’s stock, valued at $1,329,315.12. The disclosure for this purchase can be found here. Insiders have purchased a total of 251,000 shares of company stock worth $2,065,760 over the last ninety days. Insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Carvana

Institutional investors have recently modified their holdings of the business. Captrust Financial Advisors boosted its position in shares of Carvana by 270.9% in the second quarter. Captrust Financial Advisors now owns 1,324 shares of the company’s stock valued at $30,000 after acquiring an additional 967 shares during the period. CWM LLC boosted its position in shares of Carvana by 150.6% in the third quarter. CWM LLC now owns 1,531 shares of the company’s stock valued at $31,000 after acquiring an additional 920 shares during the period. US Bancorp DE boosted its position in shares of Carvana by 29.6% in the second quarter. US Bancorp DE now owns 2,133 shares of the company’s stock valued at $48,000 after acquiring an additional 487 shares during the period. Steph & Co. boosted its position in shares of Carvana by 182.2% in the second quarter. Steph & Co. now owns 2,201 shares of the company’s stock valued at $50,000 after acquiring an additional 1,421 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of Carvana in the first quarter valued at about $59,000.

About Carvana

(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.

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