Royal Bank of Canada set a $190.00 price target on Tesla (NASDAQ:TSLA) in a research report released on Friday, TipRanks reports. The firm currently has a sell rating on the electric vehicle producer’s stock.
TSLA has been the topic of several other reports. Canaccord Genuity decreased their price target on shares of Tesla from $394.00 to $350.00 and set a buy rating on the stock in a research report on Thursday, July 25th. ValuEngine upgraded shares of Tesla from a hold rating to a buy rating in a research report on Thursday, August 1st. China Renaissance Securities initiated coverage on shares of Tesla in a research report on Thursday, September 26th. They issued a buy rating and a $324.00 price target on the stock. Goldman Sachs Group reiterated a sell rating and issued a $158.00 price target on shares of Tesla in a research report on Thursday, July 25th. Finally, Sanford C. Bernstein set a $325.00 price target on shares of Tesla and gave the stock a hold rating in a research report on Wednesday, August 21st. Eighteen equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $266.35.
Shares of Tesla stock opened at $256.95 on Friday. The company has a market cap of $46.93 billion, a price-to-earnings ratio of -44.92 and a beta of 0.52. The company’s 50 day moving average is $238.97 and its 200 day moving average is $234.69. Tesla has a twelve month low of $176.99 and a twelve month high of $379.49. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 1.71.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 24th. The electric vehicle producer reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.55) by ($0.76). Tesla had a negative net margin of 2.64% and a negative return on equity of 11.42%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same quarter last year, the company earned ($3.06) EPS. The firm’s revenue for the quarter was up 58.7% on a year-over-year basis. Sell-side analysts expect that Tesla will post -7.38 EPS for the current fiscal year.
In related news, CFO Zachary Kirkhorn sold 150 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $224.00, for a total transaction of $33,600.00. Following the completion of the transaction, the chief financial officer now directly owns 9,812 shares of the company’s stock, valued at $2,197,888. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average cost of $232.72 per share, with a total value of $232,720.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $232,720. The disclosure for this purchase can be found here. Over the last three months, insiders sold 15,300 shares of company stock valued at $3,526,721. Corporate insiders own 24.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of TSLA. Round Table Services LLC purchased a new position in shares of Tesla in the 3rd quarter worth $202,000. Blue Chip Wealth Management Inc. purchased a new position in shares of Tesla in the 3rd quarter worth $231,000. Garrett Wealth Advisory Group LLC purchased a new position in shares of Tesla in the 3rd quarter worth $60,000. Zhang Financial LLC purchased a new position in shares of Tesla in the 3rd quarter worth $222,000. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Tesla by 11.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 775,005 shares of the electric vehicle producer’s stock worth $186,675,000 after buying an additional 82,505 shares in the last quarter. 54.41% of the stock is owned by institutional investors.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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