Argus Reiterates Buy Rating for Tesla (NASDAQ:TSLA)

Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating restated by research analysts at Argus in a research note issued to investors on Friday, Benzinga reports. They currently have a $286.00 price target on the electric vehicle producer’s stock. Argus’ price objective would suggest a potential upside of 30.12% from the stock’s previous close.

A number of other equities analysts have also weighed in on TSLA. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, July 16th. New Street Research lowered shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a report on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Glj Research lifted their price target on shares of Tesla from $22.86 to $24.86 and gave the company a “sell” rating in a report on Tuesday. Finally, Sanford C. Bernstein restated an “underperform” rating and set a $120.00 target price on shares of Tesla in a report on Monday, June 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $204.30.

Tesla Trading Down 0.2 %

NASDAQ TSLA traded down $0.45 during mid-day trading on Friday, reaching $219.80. 89,122,148 shares of the stock were exchanged, compared to its average volume of 101,153,398. Tesla has a 1-year low of $138.80 and a 1-year high of $278.98. The business’s fifty day simple moving average is $204.83 and its 200 day simple moving average is $191.38. The stock has a market capitalization of $700.99 billion, a PE ratio of 56.19, a PEG ratio of 5.39 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. On average, research analysts anticipate that Tesla will post 1.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at $2,772,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Integris Wealth Management LLC grew its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Echo Wealth Management LLC grew its position in Tesla by 0.7% in the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the last quarter. WASHINGTON TRUST Co grew its position in Tesla by 3.2% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares during the last quarter. Cypress Capital Group grew its position in Tesla by 1.7% in the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 47 shares during the last quarter. Finally, Patten & Patten Inc. TN grew its position in Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the last quarter. 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.