Carvana (CVNA) Given Hold Rating at BMO Capital Markets

Carvana (NYSE:CVNA)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a research report issued on Monday. They currently have a $23.00 price objective on the stock. BMO Capital Markets’ price target suggests a potential downside of 1.71% from the stock’s previous close.

CVNA has been the topic of a number of other reports. Barrington Research raised shares of Carvana from a “market perform” rating to an “outperform” rating and set a $26.00 price target on the stock in a research report on Friday, March 9th. Craig Hallum cut shares of Carvana from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research report on Wednesday, March 7th. Zacks Investment Research raised shares of Carvana from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Citigroup started coverage on shares of Carvana in a research report on Friday, March 9th. They set a “buy” rating and a $23.00 price target on the stock. Finally, ValuEngine raised shares of Carvana from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $20.46.

Shares of NYSE CVNA opened at $23.40 on Monday. The firm has a market cap of $3,082.59 and a PE ratio of -19.34. Carvana has a twelve month low of $8.14 and a twelve month high of $25.23. The company has a current ratio of 1.60, a quick ratio of 0.86 and a debt-to-equity ratio of 0.27.

Carvana (NYSE:CVNA) last announced its quarterly earnings results on Tuesday, March 6th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.02). The firm had revenue of $265.10 million for the quarter, compared to the consensus estimate of $269.60 million. Carvana had a negative return on equity of 74.69% and a negative net margin of 11.17%. equities analysts anticipate that Carvana will post -1.33 earnings per share for the current fiscal year.

In related news, major shareholder Goodnow Investment Group, Llc acquired 81,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were acquired at an average cost of $18.23 per share, for a total transaction of $1,476,630.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 21.69% of the company’s stock.

A number of hedge funds have recently modified their holdings of CVNA. Nationwide Fund Advisors increased its stake in Carvana by 400.0% in the 3rd quarter. Nationwide Fund Advisors now owns 43,276 shares of the company’s stock valued at $635,000 after buying an additional 34,621 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Carvana by 34.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 698,660 shares of the company’s stock valued at $10,255,000 after buying an additional 180,631 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in Carvana in the 3rd quarter valued at $185,000. JPMorgan Chase & Co. increased its stake in Carvana by 2,272.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,055 shares of the company’s stock valued at $165,000 after buying an additional 10,589 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Carvana by 10.8% in the 3rd quarter. Wells Fargo & Company MN now owns 61,623 shares of the company’s stock valued at $905,000 after buying an additional 5,998 shares during the last quarter. Hedge funds and other institutional investors own 14.86% of the company’s stock.

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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.

Analyst Recommendations for Carvana (NYSE:CVNA)

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