Carvana Co. (NYSE:CVNA – Get Rating)’s share price hit a new 52-week low during trading on Wednesday after Wells Fargo & Company lowered their price target on the stock from $35.00 to $30.00. The stock traded as low as $16.45 and last traded at $16.45, with a volume of 69830 shares changing hands. The stock had previously closed at $18.37.
CVNA has been the topic of a number of other research reports. Needham & Company LLC dropped their price target on shares of Carvana from $80.00 to $31.00 and set a “buy” rating on the stock in a research note on Tuesday, July 5th. Raymond James upgraded Carvana from an “underperform” rating to a “market perform” rating in a report on Wednesday, July 27th. Morgan Stanley decreased their price objective on Carvana from $75.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 11th. Wedbush lowered Carvana from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, Argus started coverage on Carvana in a report on Thursday, August 18th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.30.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. DNB Asset Management AS boosted its stake in shares of Carvana by 6.6% during the first quarter. DNB Asset Management AS now owns 11,809 shares of the company’s stock valued at $1,409,000 after acquiring an additional 734 shares during the last quarter. NuWave Investment Management LLC purchased a new stake in shares of Carvana during the 1st quarter valued at about $219,000. Threadgill Financial LLC purchased a new stake in shares of Carvana during the 1st quarter valued at about $219,000. IFM Investors Pty Ltd raised its holdings in shares of Carvana by 22.3% during the 1st quarter. IFM Investors Pty Ltd now owns 10,952 shares of the company’s stock valued at $1,306,000 after buying an additional 1,999 shares during the period. Finally, AE Wealth Management LLC grew its stake in Carvana by 113.5% during the 1st quarter. AE Wealth Management LLC now owns 26,780 shares of the company’s stock valued at $3,195,000 after purchasing an additional 14,235 shares in the last quarter.
Carvana Trading Down 9.1 %
The business has a 50 day simple moving average of $31.87 and a two-hundred day simple moving average of $39.98. The company has a current ratio of 2.32, a quick ratio of 1.11 and a debt-to-equity ratio of 7.64. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of -2.51 and a beta of 2.71.
Carvana (NYSE:CVNA – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($2.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.81) by ($0.54). The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.99 billion. Carvana had a negative return on equity of 115.22% and a negative net margin of 4.24%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.26 EPS. As a group, equities analysts anticipate that Carvana Co. will post -8.95 EPS for the current year.
About Carvana
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.