Tesla (NASDAQ:TSLA) Earns “Buy” Rating from New Street Research

New Street Research reaffirmed their buy rating on shares of Tesla (NASDAQ:TSLA) in a report released on Tuesday, Benzinga reports. They currently have a $235.00 price objective on the electric vehicle producer’s stock.

A number of other research firms have also commented on TSLA. Barclays reduced their price target on Tesla from $225.00 to $180.00 and set an equal weight rating on the stock in a research report on Wednesday, April 17th. Robert W. Baird reiterated an outperform rating and issued a $280.00 price target on shares of Tesla in a research report on Wednesday, April 17th. The Goldman Sachs Group reiterated a neutral rating and issued a $175.00 price target on shares of Tesla in a research report on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on Tesla from $130.00 to $115.00 and set an underweight rating on the stock in a research report on Wednesday, April 3rd. Finally, Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 price target on the stock in a research report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of Hold and a consensus price target of $187.30.

Tesla Trading Up 0.5 %

Shares of TSLA stock opened at $197.42 on Tuesday. The firm has a market capitalization of $629.61 billion, a P/E ratio of 49.98, a P/E/G ratio of 4.65 and a beta of 2.32. Tesla has a twelve month low of $138.80 and a twelve month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s fifty day simple moving average is $175.83 and its 200 day simple moving average is $192.28.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The business had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, sell-side analysts predict that Tesla will post 1.87 EPS for the current fiscal year.

Insider Activity

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock valued at $19,285,643 over the last three months. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Tesla by 1.7% during the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares in the last quarter. Norges Bank purchased a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Morgan Stanley lifted its position in shares of Tesla by 7.8% during the third quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after acquiring an additional 2,177,397 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.