Tesla (TSLA) Upgraded by Zacks Investment Research to “Hold”

Tesla (NASDAQ:TSLA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, April 12th.

According to Zacks, “Tesla published its production figures for first-quarter 2018, which totaled 34,494 vehicles, up 40% sequentially. This happens to be the most productive quarter in the history of Tesla. The Model 3 output increased significantly on a sequential basis. However, the company missed its target of producing 2,500 Model 3s a week by the end of first-quarter 2018. Actually, it produced 2020 Model 3 cars over the last seven days. Despite the production target miss, the first-quarter 2018 performance of Tesla looks encouraging.Tesla is also focused on geographical expansions and acquisitions for growth. The company is also rapidly developing a network of superchargers.However, high research and development costs, low number of chargers and high requirement of capital expenditure are some headwinds. Also, the issue of recall is hurting the company badly.”

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A number of other research analysts also recently issued reports on TSLA. BidaskClub raised shares of Tesla from a “strong sell” rating to a “sell” rating in a research report on Friday, April 6th. ValuEngine cut shares of Tesla from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Vetr cut shares of Tesla from a “buy” rating to a “hold” rating and set a $311.18 target price on the stock. in a report on Wednesday, April 11th. Dougherty & Co boosted their target price on shares of Tesla from $340.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, KeyCorp restated a “hold” rating on shares of Tesla in a report on Tuesday, March 13th. Thirteen investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $304.33.

Shares of Tesla stock opened at $290.24 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.56 and a debt-to-equity ratio of 1.80. The firm has a market cap of $49,027.34, a price-to-earnings ratio of -25.28 and a beta of 1.19. Tesla has a 12-month low of $244.59 and a 12-month high of $389.61.

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

In other Tesla news, VP Eric Branderiz sold 801 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $354.58, for a total transaction of $284,018.58. Following the transaction, the vice president now owns 1,287 shares in the company, valued at approximately $456,344.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 1,875 shares of the company’s stock in a transaction dated Thursday, April 5th. The shares were sold at an average price of $300.00, for a total transaction of $562,500.00. Following the transaction, the director now owns 150,208 shares in the company, valued at approximately $45,062,400. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,529 shares of company stock worth $1,786,841. 23.10% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantitative Investment Management LLC bought a new position in Tesla during the 4th quarter valued at about $30,045,000. Laurel Wealth Advisors Inc. lifted its stake in Tesla by 40.2% during the 4th quarter. Laurel Wealth Advisors Inc. now owns 1,692 shares of the electric vehicle producer’s stock valued at $526,000 after acquiring an additional 485 shares during the period. APG Asset Management N.V. lifted its stake in Tesla by 43.4% during the 4th quarter. APG Asset Management N.V. now owns 213,861 shares of the electric vehicle producer’s stock valued at $55,451,000 after acquiring an additional 64,712 shares during the period. Steward Partners Investment Advisory LLC purchased a new stake in shares of Tesla during the 3rd quarter valued at about $447,000. Finally, Private Capital Advisors Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at about $318,000. Institutional investors and hedge funds own 58.19% of the company’s stock.

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About Tesla

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.

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