Tesla’s (TSLA) “Buy” Rating Reaffirmed at Nomura

Nomura reissued their buy rating on shares of Tesla (NASDAQ:TSLA) in a research note issued to investors on Thursday morning. Nomura currently has a $500.00 price objective on the electric vehicle producer’s stock.

Other equities analysts also recently issued research reports about the company. Barclays restated a sell rating and issued a $210.00 target price on shares of Tesla in a research report on Thursday. Sanford C. Bernstein set a $265.00 target price on Tesla and gave the company a neutral rating in a research report on Wednesday, September 20th. Jefferies Group began coverage on Tesla in a research report on Tuesday, September 19th. They issued an underperform rating and a $280.00 target price on the stock. They noted that the move was a valuation call. Instinet began coverage on Tesla in a research report on Wednesday, October 4th. They issued a buy rating and a $500.00 target price on the stock. Finally, Vetr upgraded Tesla from a strong sell rating to a sell rating and set a $308.16 target price on the stock in a research report on Tuesday, October 3rd. Eleven research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $329.47.

Tesla (NASDAQ:TSLA) traded up $1.96 during midday trading on Thursday, hitting $316.58. The stock had a trading volume of 4,587,309 shares, compared to its average volume of 6,273,100. The stock has a market capitalization of $53,210.00, a P/E ratio of -36.98 and a beta of 0.94. Tesla has a 1-year low of $221.95 and a 1-year 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 earnings results on Wednesday, November 1st. The electric vehicle producer reported ($2.92) earnings per share for the quarter, beating the consensus estimate of ($3.09) by $0.17. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.94 billion. Tesla had a negative return on equity of 24.88% and a negative net margin of 13.09%. The business’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.71 earnings per share. research analysts forecast that Tesla will post -11.38 EPS for the current fiscal year.

In related news, Director Kimbal Musk sold 4,065 shares of Tesla stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $312.08, for a total value of $1,268,605.20. Following the completion of the transaction, the director now directly owns 154,589 shares in the company, valued at $48,244,135.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Douglas Field sold 600 shares of Tesla stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $301.60, for a total value of $180,960.00. Following the completion of the transaction, the vice president now owns 21,424 shares of the company’s stock, valued at $6,461,478.40. The disclosure for this sale can be found here. Insiders sold 14,692 shares of company stock valued at $4,692,003 over the last ninety days. Insiders own 23.10% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC purchased a new position in Tesla in the third quarter valued at $3,083,000. Parametric Portfolio Associates LLC lifted its holdings in Tesla by 2.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 104,828 shares of the electric vehicle producer’s stock worth $35,757,000 after buying an additional 2,910 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Tesla during the 3rd quarter worth about $447,000. Public Employees Retirement System of Ohio lifted its holdings in Tesla by 2.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 90,062 shares of the electric vehicle producer’s stock worth $30,720,000 after buying an additional 1,812 shares during the last quarter. Finally, Energy Opportunities Capital Management LLC purchased a new stake in Tesla during the 3rd quarter worth about $1,302,000. Hedge funds and other institutional investors own 57.12% of the company’s stock.

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About Tesla

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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