Tesla (NASDAQ:TSLA) Given Buy Rating at Canaccord Genuity Group

Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity Group in a note issued to investors on Friday, Benzinga reports. They currently have a $254.00 target price on the electric vehicle producer’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 10.68% from the stock’s previous close.

TSLA has been the subject of several other research reports. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. The Goldman Sachs Group cut their price target on Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Guggenheim upped their price target on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a report on Friday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Morgan Stanley restated an “overweight” rating and set a $310.00 price target on shares of Tesla in a research report on Thursday, September 5th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

Shares of TSLA traded down $0.32 during mid-day trading on Friday, hitting $229.49. The stock had a trading volume of 49,505,465 shares, compared to its average volume of 96,759,070. The company has a market cap of $733.14 billion, a PE ratio of 58.50, a PEG ratio of 6.03 and a beta of 2.29. The company’s fifty day simple moving average is $223.80 and its two-hundred day simple moving average is $194.45. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla has a fifty-two week low of $138.80 and a fifty-two week high of $278.98.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. On average, equities analysts expect that Tesla will post 1.75 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Tesla

Several institutional investors have recently made changes to their positions in the stock. FIDELIS iM LLC bought a new position in shares of Tesla during the second quarter valued at about $2,089,000. Newbridge Financial Services Group Inc. grew its position in Tesla by 19.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 29,156 shares of the electric vehicle producer’s stock worth $5,769,000 after purchasing an additional 4,690 shares during the period. Brightwater Advisory LLC bought a new stake in shares of Tesla during the 2nd quarter valued at $332,000. Heritage Wealth Management Inc. bought a new stake in shares of Tesla during the 2nd quarter valued at $269,000. Finally, Lazari Capital Management Inc. boosted its holdings in Tesla by 3.8% in the 2nd quarter. Lazari Capital Management Inc. now owns 11,003 shares of the electric vehicle producer’s stock worth $2,177,000 after buying an additional 399 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

About Tesla

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.