Robert W. Baird Reiterates “Outperform” Rating for Tesla (NASDAQ:TSLA)

Robert W. Baird reissued their outperform rating on shares of Tesla (NASDAQ:TSLA) in a research note released on Tuesday, Benzinga reports. They currently have a $280.00 target price on the electric vehicle producer’s stock.

TSLA has been the topic of several other research reports. Wedbush reiterated an outperform rating and set a $300.00 target price on shares of Tesla in a research report on Thursday, July 11th. TD Cowen boosted their target price on Tesla from $160.00 to $180.00 and gave the stock a hold rating in a research report on Wednesday, July 3rd. Oppenheimer reiterated a market perform rating on shares of Tesla in a research report on Tuesday, July 9th. HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Finally, Bank of America upgraded Tesla from a neutral rating to a buy rating and set a $220.00 target price on the stock in a research report on Wednesday, April 24th. Eight analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $203.03.

Tesla Stock Performance

Shares of TSLA stock opened at $239.20 on Tuesday. The stock has a market capitalization of $762.86 billion, a PE ratio of 61.02, a price-to-earnings-growth ratio of 6.22 and a beta of 2.31. Tesla has a 52-week low of $138.80 and a 52-week high of $280.93. The stock’s 50-day moving average price is $200.12 and its 200 day moving average price is $191.57. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. As a group, equities research analysts forecast that Tesla will post 1.85 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on 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 transaction, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on 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 completion of 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. Corporate insiders own 25.10% of the company’s stock.

Institutional Investors Weigh In On Tesla

Several large investors have recently made changes to their positions in TSLA. Lam Group Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at approximately $25,000. Bank & Trust Co acquired a new position in shares of Tesla during the second quarter valued at approximately $25,000. Mendota Financial Group LLC increased its stake in shares of Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the fourth quarter valued at approximately $37,000. Finally, Kessler Investment Group LLC increased its stake in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds 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.