JPM Securities upgrades Tesla to ‘outperform’

JMP Securities upgraded shares of Tesla (NASDAQ:TSLA) from a market perform rating to an outperform rating in a research report sent to investors on Thursday morning, Analyst Ratings Network reports. The firm currently has $516.00 target price on the electric vehicle producer’s stock.

A number of other brokerages have also recently commented on TSLA. DZ Bank reiterated a sell rating on shares of Tesla in a research note on Monday, August 31st. BidaskClub upgraded Tesla from a buy rating to a strong-buy rating in a research note on Thursday, September 17th. Bank of America upgraded Tesla from an underperform rating to a neutral rating in a research note on Friday, August 14th. Canaccord Genuity dropped their price target on Tesla from $442.00 to $377.00 and set a hold rating for the company in a research note on Wednesday, September 23rd. Finally, Oppenheimer reiterated a buy rating on shares of Tesla in a research note on Friday, October 2nd. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Tesla has an average rating of Hold and an average price target of $250.44.

NASDAQ TSLA opened at $420.63 on Thursday. The business has a fifty day moving average price of $419.32 and a two-hundred day moving average price of $278.04. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.92. Tesla has a fifty-two week low of $57.84 and a fifty-two week high of $502.49. The stock has a market capitalization of $389.87 billion, a PE ratio of 1,095.39, a PEG ratio of 20.46 and a beta of 1.68.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 21st. The electric vehicle producer reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.54. Tesla had a return on equity of 4.19% and a net margin of 1.43%. During the same quarter in the previous year, the firm earned $0.37 earnings per share. As a group, sell-side analysts expect that Tesla will post 0.62 earnings per share for the current year.
In other Tesla news, SVP Andrew D. Baglino sold 4,000 shares of Tesla stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $1,456.18, for a total transaction of $5,824,720.00. Following the completion of the transaction, the senior vice president now owns 8,122 shares in the company, valued at approximately $11,827,093.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 26,167 shares of Tesla stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $1,488.13, for a total value of $38,939,897.71. Following the transaction, the director now owns 14,333 shares of the company’s stock, valued at approximately $21,329,367.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 98,621 shares of company stock valued at $78,964,959. 23.00% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the business. Windsor Group LTD acquired a new position in Tesla during the 2nd quarter valued at about $201,000. North Star Investment Management Corp. boosted its stake in Tesla by 5.8% during the 2nd quarter. North Star Investment Management Corp. now owns 147 shares of the electric vehicle producer’s stock valued at $159,000 after purchasing an additional 8 shares during the last quarter. Busey Wealth Management acquired a new position in Tesla during the 2nd quarter valued at about $220,000. Ellevest Inc. boosted its stake in Tesla by 18.0% during the 2nd quarter. Ellevest Inc. now owns 479 shares of the electric vehicle producer’s stock valued at $517,000 after purchasing an additional 73 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its position in shares of Tesla by 12.4% during the 2nd quarter. Raymond James Trust N.A. now owns 579 shares of the electric vehicle producer’s stock worth $625,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 48.22% of the company’s stock.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, 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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