Carvana (CVNA) Rating Reiterated by B. Riley

Carvana (NYSE:CVNA)‘s stock had its “sell” rating reiterated by research analysts at B. Riley in a research note issued to investors on Monday. They currently have a $12.00 target price on the stock. B. Riley’s target price would suggest a potential downside of 41.26% from the stock’s previous close.

A number of other analysts also recently commented on CVNA. Craig Hallum boosted their price objective on Carvana from $16.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Robert W. Baird reissued an “outperform” rating and issued a $22.00 price objective (down previously from $23.00) on shares of Carvana in a research note on Thursday, August 10th. Susquehanna Bancshares reissued a “neutral” rating and issued a $16.00 price objective (up previously from $12.00) on shares of Carvana in a research note on Friday, August 11th. Wells Fargo & Company reissued an “outperform” rating and issued a $23.00 price objective on shares of Carvana in a research note on Sunday, August 20th. Finally, Wedbush reissued a “neutral” rating and issued a $18.14 price objective (down previously from $20.00) on shares of Carvana in a research note on Friday, September 15th. Three analysts have rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.77.

Carvana (NYSE:CVNA) opened at $20.43 on Monday. 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 announced its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share (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 during the quarter, compared to analyst estimates of $243.61 million. equities research analysts predict that Carvana will post -1.19 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Nationwide Fund Advisors acquired a new stake in shares of Carvana during the second quarter worth $177,000. Nordea Investment Management AB acquired a new stake in shares of Carvana during the second quarter worth $190,000. ClariVest Asset Management LLC acquired a new stake in shares of Carvana during the second quarter worth $190,000. JPMorgan Chase & Co. raised its position in shares of Carvana by 2,272.3% during the third quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock worth $165,000 after purchasing an additional 10,589 shares during the period. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Carvana during the third quarter worth $185,000. 15.20% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Carvana (NYSE:CVNA)

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