Tesla (NASDAQ:TSLA) Given “Buy” Rating at Argus

Argus restated their buy rating on shares of Tesla (NASDAQ:TSLA) in a report issued on Friday, Benzinga reports. The brokerage currently has a $286.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Mizuho raised their price objective on Tesla from $180.00 to $230.00 and gave the company a neutral rating in a research report on Friday, July 12th. KGI Securities reissued a neutral rating and issued a $236.00 target price on shares of Tesla in a research note on Thursday. HSBC lifted their price target on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Truist Financial increased their price objective on shares of Tesla from $162.00 to $215.00 and gave the company a hold rating in a research report on Wednesday. Finally, Citigroup decreased their target price on shares of Tesla from $274.00 to $258.00 and set a neutral rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $204.30.

Tesla Stock Down 0.2 %

NASDAQ:TSLA opened at $219.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.17. The firm’s 50-day moving average price is $205.68 and its 200-day moving average price is $191.23. The company has a market capitalization of $702.18 billion, a PE ratio of 56.07, a P/E/G ratio of 5.50 and a beta of 2.31. Tesla has a 1-year low of $138.80 and a 1-year 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 the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the firm earned $0.78 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that Tesla will post 1.85 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lam Group Inc. purchased a new stake in shares of Tesla during the 4th quarter worth approximately $25,000. Bank & Trust Co purchased a new position in shares of Tesla in the 2nd quarter worth $25,000. Mendota Financial Group LLC increased its holdings in shares of Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter valued at about $37,000. Finally, Kessler Investment Group LLC grew its position in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Company Profile

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.