Tesla (NASDAQ:TSLA) Stock Rating Reaffirmed by New Street Research

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

A number of other research analysts have also issued reports on TSLA. The Goldman Sachs Group reiterated a neutral rating and issued a $175.00 target price on shares of Tesla in a report on Friday, June 14th. Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 target price for the company in a report on Wednesday, April 24th. UBS Group decreased their target price on Tesla from $160.00 to $147.00 and set a neutral rating for the company in a report on Wednesday, April 24th. China Renaissance started coverage on Tesla in a report on Monday, February 26th. They issued a hold rating for the company. Finally, Sanford C. Bernstein reaffirmed an underperform rating and set a $120.00 price target on shares of Tesla in a report on Monday, June 10th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $187.30.

Tesla Trading Up 0.2 %

TSLA opened at $197.88 on Tuesday. Tesla has a 52 week low of $138.80 and a 52 week high of $299.29. The business has a fifty day simple moving average of $177.80 and a 200-day simple moving average of $192.03. The firm has a market cap of $631.08 billion, a P/E ratio of 50.48, a P/E/G ratio of 4.87 and a beta of 2.32. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $21.30 billion during 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%. On average, equities analysts expect that Tesla will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,855 shares of company stock worth $19,285,643. Company insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Institutional investors have recently modified their holdings of the company. Wyrmwood Management LLC purchased a new stake in shares of Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after buying an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla in the 4th quarter valued at approximately $37,000. Finally, Guardian Wealth Management Inc. purchased a new stake in Tesla in the 4th quarter valued at approximately $47,000. 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.