Tesla (NASDAQ:TSLA) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Tesla (NASDAQ:TSLA - Get Free Report) had its target price boosted by equities researchers at Royal Bank of Canada from $249.00 to $313.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the electric vehicle producer's stock. Royal Bank of Canada's target price points to a potential downside of 1.99% from the company's current price.

A number of other equities analysts have also recently issued reports on TSLA. Oppenheimer reiterated a "market perform" rating on shares of Tesla in a research report on Tuesday, October 8th. StockNews.com upgraded Tesla from a "sell" rating to a "hold" rating in a research report on Thursday, October 24th. Morgan Stanley reiterated an "overweight" rating and set a $310.00 price objective on shares of Tesla in a report on Thursday, October 3rd. Sanford C. Bernstein reiterated an "underperform" rating and set a $120.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Finally, Citigroup dropped their price target on shares of Tesla from $274.00 to $258.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $230.18.

Tesla Stock Up 2.6 %

TSLA traded up $8.17 on Friday, hitting $319.35. 77,844,453 shares of the company were exchanged, compared to its average volume of 95,862,867. The company has a market cap of $1.03 trillion, a PE ratio of 87.49, a PEG ratio of 10.73 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84. Tesla has a 12 month low of $138.80 and a 12 month high of $358.64. The stock's fifty day moving average is $250.10 and its 200-day moving average is $219.58.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to analysts' expectations of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $0.53 EPS. Equities research analysts predict that Tesla will post 1.99 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $350.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company's stock, valued at approximately $36,761,200. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $346.02, for a total value of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares in the company, valued at $1,868,508. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 188,797 shares of company stock valued at $57,616,781 in the last ninety days. Company insiders own 20.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank & Trust Co bought a new position in Tesla in the second quarter worth $25,000. Valley Wealth Managers Inc. acquired a new position in Tesla during the 2nd quarter worth $26,000. Abich Financial Wealth Management LLC increased its position in Tesla by 168.8% in the second quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer's stock worth $26,000 after purchasing an additional 81 shares during the period. Transcendent Capital Group LLC bought a new position in Tesla in the third quarter valued at approximately $29,000. Finally, Clean Yield Group increased its holdings in Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer's stock valued at $33,000 after purchasing an additional 48 shares during the last quarter. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.