New Street Research Upgrades Tesla (NASDAQ:TSLA) to Buy

Tesla (NASDAQ:TSLA) was upgraded by equities researchers at New Street Research from a “neutral” rating to a “buy” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm presently has a $460.00 price target on the electric vehicle producer’s stock. New Street Research’s price target indicates a potential upside of 8.90% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted their price target on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Guggenheim boosted their price objective on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a research note on Thursday, December 5th. Evercore ISI raised their target price on Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday. UBS Group boosted their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research report on Monday, November 25th. Finally, HSBC restated a “reduce” rating and set a $124.00 price objective on shares of Tesla in a research report on Friday, October 11th. Nine research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $290.51.

Tesla Trading Up 2.9 %

TSLA opened at $422.40 on Monday. The stock has a market capitalization of $1.36 trillion, a PE ratio of 115.73, a P/E/G ratio of 10.80 and a beta of 2.36. Tesla has a 12-month low of $138.80 and a 12-month high of $488.54. The firm’s fifty day moving average price is $362.37 and its 200 day moving average price is $274.38. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the company posted $0.53 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts expect that Tesla will post 1.99 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $314.44, for a total value of $35,339,911.60. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $26,727,400. The trade was a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $374.21, for a total transaction of $975,191.26. Following the transaction, the chief financial officer now owns 108,965 shares in the company, valued at approximately $40,775,792.65. This trade represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 514,886 shares of company stock valued at $169,393,831. Insiders own 20.70% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently made changes to their positions in the stock. Valley Wealth Managers Inc. acquired a new stake in Tesla in the 2nd quarter worth approximately $26,000. Abich Financial Wealth Management LLC lifted its stake in shares of Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock worth $26,000 after buying an additional 81 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in shares of Tesla during the 3rd quarter worth $29,000. Clean Yield Group grew its stake in Tesla by 60.0% in the 3rd quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 48 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new position in Tesla in the 3rd quarter worth $35,000. 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.