Tesla Motors Inc. (TSLA) Downgraded by Zacks Investment Research
Tesla Motors Inc. (NASDAQ:TSLA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
According to Zacks, “Tesla’s estimates have been going down lately. The company has a negative record of surprises in recent quarters. After missing delivery targets in the first two quarters, Tesla significantly increased production and delivery volumes in the third quarter. The company expects to marginally increase production and delivery volume in the fourth quarter. As a result, volumes are expected to be very close to the target of 50,000 units for the second half. Tesla faces numerous headwinds, including continuous losses, high expenses and production constraints. Moreover, SolarCity’s high debt and cash outflows are concerns regarding the merger.”
TSLA has been the topic of a number of other research reports. Robert W. Baird set a $338.00 price target on Tesla Motors and gave the company a “buy” rating in a research note on Wednesday, September 28th. Royal Bank Of Canada restated a “sector perform” rating and issued a $242.00 price target on shares of Tesla Motors in a research note on Wednesday, June 22nd. S&P Equity Research upgraded Tesla Motors from a “sell” rating to a “hold” rating and set a $200.00 price objective on the stock in a research report on Sunday, July 24th. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Tesla Motors in a research report on Monday, July 25th. Finally, Vetr upgraded Tesla Motors from a “buy” rating to a “strong-buy” rating and set a $230.20 price objective on the stock in a research report on Wednesday, June 22nd. Seven analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Tesla Motors has an average rating of “Hold” and an average target price of $246.30.
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Shares of Tesla Motors (NASDAQ:TSLA) traded up 1.11% on Wednesday, reaching $202.33. 1,620,421 shares of the company traded hands. The company’s market capitalization is $30.08 billion. The firm’s 50 day moving average is $205.90 and its 200 day moving average is $221.27. Tesla Motors has a one year low of $141.05 and a one year high of $269.34.
Tesla Motors (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, August 3rd. The electric vehicle producer reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by $0.55. Tesla Motors had a negative net margin of 24.64% and a negative return on equity of 46.30%. The business earned $1.56 billion during the quarter, compared to the consensus estimate of $1.67 billion. During the same quarter last year, the company posted ($0.48) EPS. The firm’s revenue was up 30.5% on a year-over-year basis. Analysts expect that Tesla Motors will post ($0.93) earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in TSLA. Motley Fool Wealth Management LLC increased its position in Tesla Motors by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 45,644 shares of the electric vehicle producer’s stock valued at $10,488,000 after buying an additional 873 shares during the period. Bloom Tree Partners LLC purchased a new stake in shares of Tesla Motors during the first quarter valued at about $59,515,000. AMP Capital Investors Ltd boosted its stake in shares of Tesla Motors by 5.2% in the first quarter. AMP Capital Investors Ltd now owns 28,453 shares of the electric vehicle producer’s stock valued at $6,456,000 after buying an additional 1,400 shares during the period. Nuveen Asset Management LLC boosted its stake in shares of Tesla Motors by 96.6% in the first quarter. Nuveen Asset Management LLC now owns 25,914 shares of the electric vehicle producer’s stock valued at $5,954,000 after buying an additional 12,735 shares during the period. Finally, Mariner Wealth Advisors LLC boosted its stake in shares of Tesla Motors by 53.5% in the first quarter. Mariner Wealth Advisors LLC now owns 1,363 shares of the electric vehicle producer’s stock valued at $313,000 after buying an additional 475 shares during the period. Institutional investors own 66.62% of the company’s stock.
Tesla Motors Company Profile
Tesla Motors, Inc designs, develops, manufactures and sells electric vehicles and energy storage products. The Company produces and sells two electric vehicles: the Model S sedan and the Model X sport utility vehicle (SUV). The Company has delivered over 107,000 Model S vehicles across the world. In addition to developing its own vehicles, it sells energy storage products.
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