ValuEngine Upgrades Tesla (TSLA) to “Hold”

ValuEngine upgraded shares of Tesla (NASDAQ:TSLA) from a sell rating to a hold rating in a research note published on Sunday morning.

Several other brokerages also recently issued reports on TSLA. Jefferies Group assumed coverage on Tesla in a report on Tuesday, September 19th. They set an underperform rating and a $280.00 price target for the company. They noted that the move was a valuation call. Robert W. Baird reiterated an outperform rating and set a $411.00 price target on shares of Tesla in a report on Monday, September 18th. Sanford C. Bernstein set a $265.00 price target on Tesla and gave the stock a neutral rating in a report on Wednesday, September 20th. Vetr upgraded Tesla from a strong sell rating to a sell rating and set a $341.74 price target for the company in a report on Wednesday, September 20th. Finally, Barclays reiterated an underweight rating and set a $210.00 price target (up previously from $165.00) on shares of Tesla in a report on Wednesday, September 13th. Twelve equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Tesla has a consensus rating of Hold and a consensus target price of $329.47.

Tesla (TSLA) traded down $2.36 during midday trading on Friday, hitting $314.89. The stock had a trading volume of 8,960,000 shares, compared to its average volume of 5,500,000. The company has a market capitalization of $52,920.00, a P/E ratio of -36.79 and a beta of 0.94. Tesla has a 52-week low of $214.31 and a 52-week high of $389.61. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.71 and a current ratio of 1.09.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. equities analysts expect that Tesla will post -11.38 EPS for the current year.

In other news, Director Kimbal Musk sold 2,190 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $330.29, for a total transaction of $723,335.10. Following the transaction, the director now owns 154,419 shares of the company’s stock, valued at approximately $51,003,051.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eric Branderiz sold 1,736 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $339.49, for a total value of $589,354.64. Following the transaction, the vice president now directly owns 1,736 shares in the company, valued at approximately $589,354.64. The disclosure for this sale can be found here. In the last three months, insiders sold 10,627 shares of company stock worth $3,423,398. Insiders own 23.10% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealthcare Advisory Partners LLC purchased a new position in shares of Tesla during the 3rd quarter valued at $100,000. Pittenger & Anderson Inc. lifted its position in shares of Tesla by 20.0% during the 2nd quarter. Pittenger & Anderson Inc. now owns 300 shares of the electric vehicle producer’s stock valued at $108,000 after buying an additional 50 shares during the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Tesla during the 3rd quarter valued at $106,000. First Personal Financial Services purchased a new position in shares of Tesla during the 3rd quarter valued at $148,000. Finally, WFG Advisors LP lifted its position in shares of Tesla by 106.8% during the 2nd quarter. WFG Advisors LP now owns 457 shares of the electric vehicle producer’s stock valued at $165,000 after buying an additional 236 shares during the last quarter. 57.12% of the stock is currently 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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