Tesla’s (TSLA) “Hold” Rating Reaffirmed at KeyCorp

KeyCorp restated their hold rating on shares of Tesla (NASDAQ:TSLA) in a report released on Wednesday morning.

Several other brokerages have also recently weighed in on TSLA. BidaskClub upgraded shares of Tesla from a sell rating to a hold rating in a research note on Wednesday, January 31st. Vetr cut shares of Tesla from a hold rating to a sell rating and set a $341.15 price objective for the company. in a research note on Monday, February 26th. Zacks Investment Research cut shares of Tesla from a hold rating to a sell rating in a research report on Saturday, January 20th. Piper Jaffray set a $385.00 target price on shares of Tesla and gave the company a buy rating in a research report on Thursday, February 8th. Finally, UBS boosted their target price on shares of Tesla to $365.00 and gave the company a hold rating in a research report on Thursday, February 8th. Thirteen research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $304.33.

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Shares of Tesla stock opened at $290.24 on Wednesday. Tesla has a twelve month low of $244.59 and a twelve month high of $389.61. The company has a quick ratio of 0.56, a current ratio of 0.86 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $50,689.48, a price-to-earnings ratio of -25.28 and a beta of 1.19.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, February 7th. The electric vehicle producer reported ($3.04) earnings per share for the quarter, topping the consensus estimate of ($3.12) by $0.08. Tesla had a negative net margin of 16.68% and a negative return on equity of 33.08%. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter in the previous year, the company earned ($0.69) EPS. The business’s revenue was up 43.9% on a year-over-year basis. equities research analysts expect that Tesla will post -15.15 EPS for the current fiscal year.

In other Tesla news, VP John Douglas Field sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $321.41, for a total transaction of $321,410.00. Following the sale, the vice president now directly owns 20,561 shares of the company’s stock, valued at approximately $6,608,511.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Eric Branderiz sold 801 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $354.58, for a total transaction of $284,018.58. Following the sale, the vice president now directly owns 1,287 shares in the company, valued at $456,344.46. The disclosure for this sale can be found here. Insiders have sold a total of 5,529 shares of company stock worth $1,786,841 over the last ninety days. 23.10% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. grew its holdings in Tesla by 2.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 17,130 shares of the electric vehicle producer’s stock worth $5,333,000 after acquiring an additional 455 shares during the last quarter. Rehmann Capital Advisory Group grew its holdings in Tesla by 24.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 1,660 shares of the electric vehicle producer’s stock worth $517,000 after acquiring an additional 327 shares during the last quarter. Xact Kapitalforvaltning AB grew its holdings in Tesla by 10.2% during the 4th quarter. Xact Kapitalforvaltning AB now owns 22,819 shares of the electric vehicle producer’s stock worth $7,105,000 after acquiring an additional 2,109 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Tesla by 20.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 895 shares of the electric vehicle producer’s stock worth $279,000 after acquiring an additional 155 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Tesla by 8.6% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 73,674 shares of the electric vehicle producer’s stock worth $22,938,000 after acquiring an additional 5,850 shares during the last quarter. 58.19% of the stock is currently owned by hedge funds and other institutional investors.

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Tesla Company Profile

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

Analyst Recommendations for Tesla (NASDAQ:TSLA)

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