ValuEngine Upgrades Tesla (TSLA) to Hold

Tesla (NASDAQ:TSLA) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Sunday.

TSLA has been the topic of several other reports. Sanford C. Bernstein set a $265.00 price target on shares of Tesla and gave the company a “hold” rating in a research note on Monday, November 13th. Barclays reiterated a “sell” rating on shares of Tesla in a research note on Sunday, October 15th. Royal Bank of Canada dropped their price target on shares of Tesla from $345.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 2nd. Vetr upgraded shares of Tesla from a “strong sell” rating to a “sell” rating and set a $282.88 price target on the stock in a research note on Thursday, November 2nd. Finally, Nomura reiterated a “buy” rating and issued a $500.00 price target on shares of Tesla in a research note on Tuesday, October 31st. Twelve investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $329.45.

Tesla (NASDAQ TSLA) opened at $311.35 on Friday. The company has a market cap of $52,327.79, a P/E ratio of -36.37 and a beta of 0.95. Tesla has a one year low of $210.96 and a one year high of $389.61. The company has a quick ratio of 0.71, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($3.09) by $0.17. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.94 billion. Tesla had a negative net margin of 13.09% and a negative return on equity of 24.88%. The firm’s revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. equities research analysts anticipate that Tesla will post -11.38 EPS for the current fiscal year.

In related news, VP Eric Branderiz sold 1,736 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $339.49, for a total transaction of $589,354.64. Following the completion of the sale, the vice president now directly owns 1,736 shares of the company’s stock, valued at $589,354.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John Douglas Field sold 600 shares of the stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $301.60, for a total value of $180,960.00. Following the sale, the vice president now directly owns 21,424 shares of the company’s stock, valued at $6,461,478.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,627 shares of company stock valued at $3,423,398. Corporate insiders own 23.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Trust Group LLC purchased a new position in Tesla in the third quarter worth $3,083,000. Parametric Portfolio Associates LLC raised its position in Tesla by 2.9% in the third quarter. Parametric Portfolio Associates LLC now owns 104,828 shares of the electric vehicle producer’s stock worth $35,757,000 after acquiring an additional 2,910 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Tesla in the third quarter worth $447,000. Public Employees Retirement System of Ohio raised its position in Tesla by 2.1% in the third quarter. Public Employees Retirement System of Ohio now owns 90,062 shares of the electric vehicle producer’s stock worth $30,720,000 after acquiring an additional 1,812 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC purchased a new position in Tesla in the third quarter worth $1,302,000. 57.12% of the stock is owned by hedge funds and other institutional investors.

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Tesla Company Profile

Tesla, Inc, formerly Tesla Motors, Inc, designs, develops, manufactures and sells fully electric vehicles, and energy storage systems, as well as installs, operates and maintains solar and energy storage products. The Company operates through two segments: Automotive, and Energy generation and storage.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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