Carvana Co Receives a Buy from Barrington


In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Carvana Co (NYSE: CVNA). The company’s shares opened today at $27.07.

Prestopino commented:

“We are raising our price target to a range of $30‐35 from our prior price target of $26. We have an OUTPERFORM investment rating on the shares. Company Description Carvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website. The Wholesale Vehicle Sales segment comprises of the proceeds from vehicles sold to wholesalers. The Other Sales and Revenue segment composes of sales of automotive finance receivable originate and sell to third parties. The company was founded on and is headquartered in Phoenix, AZ.”

According to TipRanks.com, Prestopino is a 3-star analyst with an average return of 3.8% and a 53.5% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Student Transportation, and Liquidity Services.

Currently, the analyst consensus on Carvana Co is Moderate Buy and the average price target is $30.71, representing a 13.4% upside.

In a report issued on May 10, B.Riley FBR also upgraded the stock to Buy with a $38 price target.

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The company has a one-year high of $31.35 and a one-year low of $8.85. Currently, Carvana Co has an average volume of 866.8K.

Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is negative on the stock.

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Carvana Co. is a holding company and an eCommerce platform, which engages in the buying of used cars and provision of different and convenient car buying experience. It operates through the following segments: Vehicle Sales; Wholesale Vehicle Sales; and Other Sales and Revenue. The Vehicle Sales segment consists of used vehicle to customers through website.

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