Tesla’s (TSLA) Buy Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reiterated their buy rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Friday,MarketScreener reports.

A number of other brokerages have also recently issued reports on TSLA. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. The Goldman Sachs Group lifted their price objective on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $332.33.

Tesla Trading Up 4.0%

TSLA opened at $440.40 on Friday. The stock has a market cap of $1.46 trillion, a PE ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average of $352.05 and a 200-day moving average of $314.42. Tesla has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Equities research analysts predict that Tesla will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last 90 days. Company insiders own 19.90% of the company’s stock.

Institutional Trading of Tesla

Several large investors have recently modified their holdings of TSLA. Brighton Jones LLC grew its holdings in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC grew its holdings in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Park National Corp OH grew its holdings in Tesla by 5.7% during the first quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer’s stock valued at $541,000 after purchasing an additional 113 shares during the period. Finally, Hiley Hunt Wealth Management bought a new stake in Tesla during the first quarter valued at about $243,000. 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.