Carvana (NYSE:CVNA) Lowered to “Hold” at Truist Financial
Carvana (NYSE:CVNA – Get Rating) was downgraded by equities researchers at Truist Financial from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.
Several other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their price target on Carvana from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, November 4th. Cowen cut shares of Carvana from an “outperform” rating to a “market perform” rating in a research report on Monday, November 21st. Argus cut shares of Carvana from a “hold” rating to a “sell” rating in a research report on Monday, November 21st. Bank Of America (Bofa) lowered shares of Carvana to a “neutral” rating in a report on Wednesday, November 30th. Finally, Bank of America downgraded shares of Carvana from a “buy” rating to a “neutral” rating in a report on Wednesday, November 30th. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Carvana presently has an average rating of “Hold” and an average target price of $46.10.
Carvana Price Performance
Shares of CVNA traded up $0.16 during trading hours on Wednesday, hitting $4.32. 13,659,534 shares of the stock were exchanged, compared to its average volume of 11,671,694. The stock’s 50-day moving average price is $10.02 and its two-hundred day moving average price is $22.90. The company has a debt-to-equity ratio of 17.69, a quick ratio of 1.01 and a current ratio of 2.38. The company has a market cap of $815.82 million, a price-to-earnings ratio of -0.48 and a beta of 2.31. Carvana has a 12-month low of $3.55 and a 12-month high of $245.83.
Carvana (NYSE:CVNA – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($2.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.02) by ($0.65). Carvana had a negative return on equity of 191.74{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} and a negative net margin of 5.99{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9}. The business had revenue of $3.39 billion for the quarter, compared to analysts’ expectations of $3.64 billion. Research analysts expect that Carvana will post -9.94 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Daniel J. Gill acquired 133,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was bought at an average price of $7.62 per share, for a total transaction of $1,013,460.00. Following the transaction, the insider now owns 263,415 shares in the company, valued at $2,007,222.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Carvana news, insider Daniel J. Gill acquired 133,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was purchased at an average price of $7.62 per share, for a total transaction of $1,013,460.00. Following the completion of the transaction, the insider now owns 263,415 shares of the company’s stock, valued at approximately $2,007,222.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Taira bought 10,000 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were bought at an average price of $11.13 per share, for a total transaction of $111,300.00. Following the completion of the transaction, the insider now directly owns 42,518 shares in the company, valued at approximately $473,225.34. The disclosure for this purchase can be found here. Insiders acquired a total of 251,000 shares of company stock worth $2,065,760 in the last 90 days. Company insiders own 17.67{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in CVNA. Geneos Wealth Management Inc. lifted its holdings in shares of Carvana by 17.0{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} in the first quarter. Geneos Wealth Management Inc. now owns 1,929 shares of the company’s stock valued at $230,000 after purchasing an additional 280 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Carvana by 1.9{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} in the 1st quarter. Handelsbanken Fonder AB now owns 22,425 shares of the company’s stock valued at $2,675,000 after acquiring an additional 413 shares during the last quarter. Mackenzie Financial Corp lifted its stake in shares of Carvana by 21.4{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} during the 1st quarter. Mackenzie Financial Corp now owns 2,428 shares of the company’s stock worth $290,000 after purchasing an additional 428 shares during the period. US Bancorp DE boosted its holdings in shares of Carvana by 29.6{d0229a57248bc83f80dcf53d285ae037b39e8d57980e4e23347103bb2289e3f9} during the second quarter. US Bancorp DE now owns 2,133 shares of the company’s stock worth $48,000 after purchasing an additional 487 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in Carvana in the first quarter valued at $59,000.
Carvana Company Profile
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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