Tudor, Pickering, Holt & Co. Begins Coverage on Tesla (NASDAQ:TSLA)

Tudor, Pickering, Holt & Co. started coverage on shares of Tesla (NASDAQ:TSLA) in a research report sent to investors on Thursday, Analyst Price Targets reports. The firm issued a sell rating and a $537.00 price target on the electric vehicle producer’s stock.

TSLA has been the subject of a number of other research reports. Royal Bank of Canada raised their price target on shares of Tesla from $718.00 to $745.00 and gave the stock a sector perform rating in a report on Tuesday, July 27th. Jefferies Financial Group raised shares of Tesla from a hold rating to a buy rating and raised their target price for the stock from $700.00 to $850.00 in a report on Monday, August 9th. Tudor Pickering began coverage on shares of Tesla in a report on Thursday. They set a sell rating and a $537.00 target price for the company. UBS Group raised their target price on shares of Tesla from $660.00 to $725.00 and gave the stock a neutral rating in a report on Thursday, August 12th. Finally, DZ Bank raised shares of Tesla from a sell rating to a buy rating and set a $750.00 target price for the company in a report on Thursday, July 29th. Nine equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $601.22.

Shares of TSLA opened at $774.39 on Thursday. The company has a 50 day moving average of $710.50 and a two-hundred day moving average of $674.03. The company has a market cap of $766.66 billion, a price-to-earnings ratio of 403.33, a price-to-earnings-growth ratio of 6.20 and a beta of 1.95. Tesla has a twelve month low of $379.11 and a twelve month high of $900.40. The company has a quick ratio of 1.22, a current ratio of 1.51 and a debt-to-equity ratio of 0.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.93. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.39 billion. Tesla had a net margin of 5.21% and a return on equity of 9.75%. During the same quarter last year, the company posted $0.44 earnings per share. On average, sell-side analysts expect that Tesla will post 3.39 EPS for the current year.

In related news, CFO Zachary Kirkhorn sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $629.73, for a total transaction of $787,162.50. Following the sale, the chief financial officer now directly owns 55,507 shares of the company’s stock, valued at approximately $34,954,423.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Vaibhav Taneja sold 4,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $661.59, for a total transaction of $2,950,029.81. Following the transaction, the chief accounting officer now owns 19,721 shares of the company’s stock, valued at approximately $13,047,216.39. The disclosure for this sale can be found here. Insiders sold a total of 90,652 shares of company stock worth $64,928,197 over the last three months. Insiders own 25.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of TSLA. Milestone Resources Group Ltd boosted its holdings in shares of Tesla by 56.0% in the 2nd quarter. Milestone Resources Group Ltd now owns 39 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 14 shares in the last quarter. Clean Yield Group acquired a new position in shares of Tesla in the 2nd quarter valued at $31,000. Lake Point Wealth Management acquired a new position in shares of Tesla in the 2nd quarter valued at $31,000. Baldrige Asset Management LLC acquired a new position in shares of Tesla in the 2nd quarter valued at $33,000. Finally, Lee Financial Co boosted its holdings in shares of Tesla by 53.1% in the 2nd quarter. Lee Financial Co now owns 49 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 17 shares in the last quarter. Institutional investors own 40.28% of the company’s stock.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Analyst Recommendations for Tesla (NASDAQ:TSLA)

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