Tesla (NASDAQ:TSLA) Rating Reiterated by Royal Bank of Canada

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued on Wednesday, Benzinga reports. They presently have a $298.00 price objective on the electric vehicle producer’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 65.92% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Citigroup reduced their price objective on Tesla from $224.00 to $196.00 and set a “neutral” rating for the company in a research note on Wednesday. Redburn Atlantic began coverage on shares of Tesla in a research report on Wednesday, January 24th. They set a “sell” rating and a $170.00 target price for the company. Wells Fargo & Company downgraded Tesla from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $200.00 to $125.00 in a research report on Wednesday, March 13th. Sanford C. Bernstein cut their price objective on Tesla from $150.00 to $120.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating on the stock. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $207.04.

Tesla Stock Up 1.1 %

Shares of Tesla stock traded up $1.93 on Wednesday, hitting $179.60. 62,808,730 shares of the company’s stock traded hands, compared to its average volume of 102,745,398. The stock has a market cap of $571.99 billion, a P/E ratio of 41.65, a PEG ratio of 3.90 and a beta of 2.41. The company has a quick ratio of 1.25, a current ratio of 1.73 and a debt-to-equity ratio of 0.05. The firm’s 50-day moving average is $189.34 and its 200 day moving average is $222.86. Tesla has a 52-week low of $152.37 and a 52-week high of $299.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, January 24th. The electric vehicle producer reported $0.71 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.03). The business had revenue of $25.17 billion for the quarter, compared to analysts’ expectations of $25.64 billion. Tesla had a net margin of 15.50% and a return on equity of 16.62%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 earnings per share. Equities analysts anticipate that Tesla will post 2.44 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $204.17, for a total value of $2,143,785.00. Following the transaction, the senior vice president now owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 687 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the completion of the sale, the senior vice president now owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,598 shares of company stock worth $36,952,434. Company insiders own 20.90% of the company’s stock.

Institutional Trading of Tesla

Several institutional investors and hedge funds have recently modified their holdings of the business. Contravisory Investment Management Inc. bought a new stake in shares of Tesla in the 3rd quarter worth approximately $25,000. Wyrmwood Management LLC purchased a new position in shares of Tesla in the 4th quarter valued at approximately $25,000. Lam Group Inc. purchased a new position in Tesla during the fourth quarter valued at $25,000. Halpern Financial Inc. raised its stake in Tesla by 1,111.1% during the third quarter. Halpern Financial Inc. now owns 109 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Finally, Alpha Paradigm Partners LLC purchased a new position in Tesla during the third quarter valued at $27,000. 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.