Robert W. Baird lowers Carvana (NYSE:CVNA) price target to $125.00


Carvana (NYSE: CVNA – Get a Note) saw its target price lowered by stock analysts Robert W. Baird from $200.00 to $125.00 in a report on Friday, reports The Fly. Robert W. Baird’s target price would indicate upside potential of 50.35% from the current stock price.

Several other brokerages have also recently published reports on CVNA. Royal Bank of Canada lowered its price target on Carvana shares from $138.00 to $85.00 and set an “industry performance” rating for the company in a research report on Thursday. Cowen lowered his price target on Carvana shares from $300.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday. TheStreet downgraded Carvana’s shares from a “c-” rating to a “d+” rating in a Thursday, January 13 research report. DA Davidson lowered his price target on Carvana shares from $355.00 to $140.00 and set a “neutral” rating for the company in a Monday, February 28 research report. Finally, Wells Fargo & Company lowered its price target on Carvana shares from $200.00 to $150.00 and set an “overweight” rating for the company in a research report on Thursday. Seven investment analysts gave the stock a hold rating and eighteen gave the company a buy rating. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $230.83.

Shares of CVNA opened at $83.14 on Friday. The company has a market capitalization of $14.38 billion, a P/E ratio of -51.96 and a beta of 2.30. Carvana has a 1-year low of $79.28 and a 1-year high of $376.83. The company has a debt ratio of 6.11, a current ratio of 1.69 and a quick ratio of 0.60. The company’s 50-day simple moving average is $122.33 and its 200-day simple moving average is $198.60.

Carvana (NYSE:CVNA – Get Rating) last released its quarterly results on Wednesday, April 20. The company reported ($2.89) EPS for the quarter, missing Thomson Reuters consensus estimate of ($1.58) by ($1.31). Carvana had a negative net margin of 1.05% and a negative return on equity of 19.82%. The company posted revenue of $3.50 billion in the quarter, compared to $3.37 billion expected by analysts. During the same quarter of the previous year, the company posted an EPS of ($0.46). The company’s quarterly revenue increased 55.8% year over year. Analysts expect Carvana to post earnings per share of -3.99 for the current fiscal year.

In other Carvana news, Vice Chairman Stephen R. Palmer sold 1,000 shares of the company in a trade on Tuesday, March 1. The stock was sold at an average price of $148.73, for a total value of $148,730.00. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, director Michael E. Maroone purchased 25,000 shares of the company in a trade on Friday, March 4. The stock was purchased at an average price of $104.77 per share, for a total transaction of $2,619,250.00. Disclosure of this purchase can be found here. In the past ninety days, insiders have sold 1,026 shares of the company valued at $153,014. 17.67% of the shares are currently held by company insiders.

Several hedge funds and other institutional investors have recently changed their stock holdings. Caisse DE Dépôt ET Placement DU Québec increased its position in Carvana by 155.3% in the third quarter. Caisse DE Dépôt ET Placement DU Quebec now owns 82,200 shares of the company worth $24,787,000 after acquiring an additional 50,000 shares last quarter. Corient Capital Partners LLC increased its position in Carvana by 15.1% in the third quarter. Corient Capital Partners LLC now owns 852 shares of the company worth $257,000 after acquiring 112 additional shares in the last quarter. NN Investment Partners Holdings NV increased its position in Carvana by 11.7% in the fourth quarter. NN Investment Partners Holdings NV now owns 20,811 shares of the company worth $4,824,000 after acquiring 2,188 additional shares in the last quarter. Prime Capital Investment Advisors LLC increased its position in Carvana by 692.3% in the third quarter. Prime Capital Investment Advisors LLC now owns 5,800 shares of the company worth $1,749,000 after acquiring 5,068 additional shares in the last quarter. Finally, Sculptor Capital LP increased its position in Carvana by 1.2% in the third quarter. Sculptor Capital LP now owns 536,419 shares of the company worth $161,752,000 after acquiring an additional 6,374 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s shares.

About Carvana (Get a 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 search and identify a vehicle; inspect it using the company’s 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pickup from their desktop or mobile devices.

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Eleanor C. William