Deutsche Bank Downgrades Carvana (CVNA) to Hold

Carvana (NYSE:CVNA) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a report issued on Friday. They currently have a $23.50 price objective on the stock, up from their prior price objective of $22.00. Deutsche Bank’s price objective would indicate a potential upside of 10.64% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Carvana from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Monday, October 16th. Robert W. Baird reissued a “buy” rating and set a $17.00 price objective on shares of Carvana in a report on Monday, November 20th. Barrington Research started coverage on shares of Carvana in a report on Friday, October 27th. They set a “market perform” rating for the company. Wedbush reissued a “neutral” rating and set a $14.00 price objective (down from $20.00) on shares of Carvana in a report on Wednesday, November 8th. Finally, Susquehanna Bancshares reissued a “neutral” rating and set a $16.00 price objective (up from $12.00) on shares of Carvana in a report on Friday, August 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $19.88.

Carvana (NYSE:CVNA) opened at $21.24 on Friday. 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 fifty-two week low of $8.14 and a fifty-two week high of $23.70.

Carvana (NYSE:CVNA) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $243.61 million. Carvana had a negative net margin of 11.81% and a negative return on equity of 153.67%. sell-side analysts forecast that Carvana will post -1.2 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of CVNA. Schwab Charles Investment Management Inc. bought a new position in shares of Carvana in the 2nd quarter worth about $508,000. Rhumbline Advisers bought a new position in shares of Carvana in the 2nd quarter worth about $392,000. ClariVest Asset Management LLC bought a new position in shares of Carvana in the 2nd quarter worth about $190,000. Bank of New York Mellon Corp bought a new position in shares of Carvana in the 2nd quarter worth about $10,604,000. Finally, Blair William & Co. IL bought a new position in shares of Carvana in the 2nd quarter worth about $8,002,000. Institutional investors own 15.20% of the company’s stock.

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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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