Tesla (NASDAQ:TSLA) Receives Outperform Rating from Royal Bank of Canada

Tesla (NASDAQ:TSLA)‘s stock had its “outperform” rating reissued by research analysts at Royal Bank of Canada in a report issued on Wednesday, Benzinga reports. They currently have a $298.00 price target on the electric vehicle producer’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 69.52% from the stock’s current price.

A number of other analysts also recently weighed in on TSLA. KGI Securities reissued a “neutral” rating and issued a $213.00 price target (down from $309.00) on shares of Tesla in a report on Thursday, January 25th. China Renaissance began coverage on shares of Tesla in a research report on Monday, February 26th. They set a “hold” rating for the company. Wedbush restated an “outperform” rating and set a $315.00 price objective on shares of Tesla in a report on Wednesday, March 13th. The Goldman Sachs Group cut their price objective on shares of Tesla from $220.00 to $190.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Mizuho reaffirmed a “neutral” rating and set a $195.00 price target (down from $270.00) on shares of Tesla in a research report on Monday. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average target price of $204.63.

Tesla Stock Down 2.2 %

TSLA stock opened at $175.79 on Wednesday. Tesla has a 52-week low of $152.37 and a 52-week high of $299.29. The company’s 50 day simple moving average is $187.78 and its 200-day simple moving average is $222.06. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.73 and a quick ratio of 1.25. The firm has a market capitalization of $559.85 billion, a P/E ratio of 40.79, a P/E/G ratio of 4.01 and a beta of 2.41.

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

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 687 shares of Tesla stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $177.11, for a total transaction of $121,674.57. Following the transaction, the senior vice president now directly owns 63,171 shares of the company’s stock, valued at approximately $11,188,215.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,920,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 687 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $177.11, for a total value of $121,674.57. Following the transaction, the senior vice president now directly 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 90 days, insiders sold 198,598 shares of company stock valued at $36,952,434. 20.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Contravisory Investment Management Inc. bought a new stake in Tesla in the third quarter valued at approximately $25,000. Wyrmwood Management LLC bought a new position in Tesla in the fourth quarter worth $25,000. Lam Group Inc. purchased a new stake in shares of Tesla in the fourth quarter worth $25,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Tesla in the third quarter worth $27,000. Finally, Halpern Financial Inc. boosted its position in shares of 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. 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.