Robert W. Baird Reaffirms Buy Rating for Tesla (NASDAQ:TSLA)

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Tesla (NASDAQ:TSLA)‘s stock had its “buy” rating reissued by equities research analysts at Robert W. Baird in a research note issued to investors on Tuesday. They currently have a $355.00 price target on the electric vehicle producer’s stock. Robert W. Baird’s target price would suggest a potential upside of 1.59% from the stock’s previous close.

A number of other research firms have also recently commented on TSLA. TheStreet upgraded Tesla from a “d+” rating to a “c-” rating in a report on Tuesday, October 29th. Credit Suisse Group upped their price target on shares of Tesla from $189.00 to $200.00 and gave the stock an “underperform” rating in a report on Thursday, October 24th. Roth Capital reiterated a “sell” rating and set a $249.00 price target on shares of Tesla in a report on Monday, November 18th. Oppenheimer upped their price target on shares of Tesla from $356.00 to $385.00 in a report on Thursday, October 24th. Finally, BidaskClub upgraded shares of Tesla from a “buy” rating to a “strong-buy” rating in a report on Friday, October 11th. Eighteen equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $278.90.

NASDAQ:TSLA traded up $9.92 during mid-day trading on Tuesday, hitting $349.45. 7,037,706 shares of the company’s stock traded hands, compared to its average volume of 6,844,157. The firm has a 50 day moving average of $326.71 and a two-hundred day moving average of $253.06. Tesla has a 12 month low of $176.99 and a 12 month high of $379.49. The firm has a market capitalization of $62.98 billion, a price-to-earnings ratio of -61.09 and a beta of 0.59. The company has a current ratio of 1.08, a quick ratio of 0.73 and a debt-to-equity ratio of 1.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $1.86 earnings per share for the quarter, beating the consensus estimate of ($0.42) by $2.28. Tesla had a negative return on equity of 13.42% and a negative net margin of 3.39%. The firm had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the prior year, the company earned $2.90 EPS. The firm’s revenue for the quarter was down 7.6% compared to the same quarter last year. As a group, equities research analysts expect that Tesla will post -4.8 earnings per share for the current year.

In other Tesla news, SVP Andrew D. Baglino sold 2,366 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $313.25, for a total transaction of $741,149.50. Following the sale, the senior vice president now owns 3,288 shares of the company’s stock, valued at $1,029,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Kirkhorn sold 150 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $352.32, for a total transaction of $52,848.00. Following the sale, the chief financial officer now directly owns 9,701 shares in the company, valued at approximately $3,417,856.32. The disclosure for this sale can be found here. Insiders have sold 96,681 shares of company stock worth $32,955,635 in the last ninety days. Insiders own 24.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its position in Tesla by 11.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 1,711 shares of the electric vehicle producer’s stock worth $412,000 after purchasing an additional 174 shares during the period. Baillie Gifford & Co. lifted its stake in shares of Tesla by 1.2% in the second quarter. Baillie Gifford & Co. now owns 13,409,732 shares of the electric vehicle producer’s stock worth $2,996,539,000 after buying an additional 165,206 shares in the last quarter. DRW Securities LLC lifted its stake in shares of Tesla by 12.5% in the second quarter. DRW Securities LLC now owns 2,383 shares of the electric vehicle producer’s stock worth $532,000 after buying an additional 265 shares in the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of Tesla by 35.2% in the third quarter. Oppenheimer & Co. Inc. now owns 9,793 shares of the electric vehicle producer’s stock worth $2,358,000 after buying an additional 2,551 shares in the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Tesla by 3.1% in the second quarter. California State Teachers Retirement System now owns 233,305 shares of the electric vehicle producer’s stock worth $52,134,000 after buying an additional 7,100 shares in the last quarter. 52.61% of the stock is currently owned by institutional investors.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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