Tesla’s (TSLA) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has a $224.00 price objective on the electric vehicle producer’s stock.

A number of other equities analysts have also recently issued reports on the company. Argus restated a buy rating and issued a $286.00 target price on shares of Tesla in a report on Friday, July 26th. New Street Research downgraded Tesla from a buy rating to a neutral rating and set a $225.00 price objective on the stock. in a report on Wednesday, July 24th. Cantor Fitzgerald reaffirmed a neutral rating and set a $245.00 price objective on shares of Tesla in a research note on Monday, September 23rd. TD Cowen upped their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a hold rating in a research note on Wednesday, July 3rd. Finally, Canaccord Genuity Group reaffirmed a buy rating and set a $254.00 price objective on shares of Tesla in a research note on Friday, September 13th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $209.90.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $260.46 on Wednesday. Tesla has a twelve month low of $138.80 and a twelve month high of $271.00. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $221.89 and a two-hundred day moving average of $198.53. The company has a market capitalization of $832.08 billion, a price-to-earnings ratio of 66.44, a PEG ratio of 6.92 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results 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). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, analysts expect that Tesla will post 1.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 over the last 90 days. Insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several institutional investors and hedge funds have recently made changes to their positions in TSLA. Bank & Trust Co acquired a new stake in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at $26,000. Abich Financial Wealth Management LLC boosted its stake in shares of Tesla by 168.8% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after purchasing an additional 81 shares in the last quarter. OLD Point Trust & Financial Services N A acquired a new stake in shares of Tesla in the 4th quarter valued at $37,000. Finally, Kessler Investment Group LLC boosted its stake in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds 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.