Tesla (TSLA) Downgraded to “Underperform” at Evercore ISI

Tesla (NASDAQ:TSLA) was downgraded by Evercore ISI from an “in-line” rating to an “underperform” rating in a research note issued on Monday, MarketBeat reports. They presently have a $240.00 target price on the electric vehicle producer’s stock. Evercore ISI’s price target points to a potential downside of 9.36% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Goldman Sachs Group reiterated a “sell” rating and set a $225.00 target price on shares of Tesla in a research note on Tuesday, January 22nd. UBS Group reduced their price target on shares of Tesla from $230.00 to $220.00 and set a “sell” rating for the company in a research report on Tuesday, January 29th. JPMorgan Chase & Co. reissued a “sell” rating and set a $230.00 price target on shares of Tesla in a research report on Tuesday, February 26th. Sanford C. Bernstein reissued a “neutral” rating and set a $325.00 price target on shares of Tesla in a research report on Friday, March 29th. Finally, JMP Securities reduced their price target on shares of Tesla from $394.00 to $374.00 and set a “market outperform” rating for the company in a research report on Thursday, April 4th. Sixteen research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $314.52.

NASDAQ:TSLA traded down $8.48 during trading hours on Monday, hitting $264.78. The stock had a trading volume of 9,987,167 shares, compared to its average volume of 8,720,202. The company has a quick ratio of 0.52, a current ratio of 0.83 and a debt-to-equity ratio of 1.63. Tesla has a 1-year low of $247.77 and a 1-year high of $387.46. The company has a market capitalization of $47.20 billion, a price-to-earnings ratio of -46.29 and a beta of 0.35.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, January 30th. The electric vehicle producer reported $1.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.93. The company had revenue of $7.23 billion during the quarter, compared to the consensus estimate of $7.09 billion. Tesla had a negative net margin of 4.55% and a negative return on equity of 18.50%. Tesla’s revenue for the quarter was up 119.8% on a year-over-year basis. During the same quarter last year, the company earned ($3.04) earnings per share. On average, equities analysts anticipate that Tesla will post -2.01 earnings per share for the current year.

In other news, insider Jerome M. Guillen sold 1,000 shares of Tesla stock in a transaction on Friday, February 1st. The shares were sold at an average price of $305.42, for a total transaction of $305,420.00. Following the transaction, the insider now owns 8,860 shares in the company, valued at approximately $2,706,021.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey B. Straubel sold 15,000 shares of Tesla stock in a transaction on Monday, January 28th. The stock was sold at an average price of $293.66, for a total transaction of $4,404,900.00. Following the transaction, the insider now owns 321,398 shares in the company, valued at approximately $94,381,736.68. The disclosure for this sale can be found here. Insiders have sold a total of 98,040 shares of company stock worth $28,575,874 in the last quarter. Corporate insiders own 22.80% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Polaris Greystone Financial Group LLC lifted its stake in Tesla by 3.1% in the fourth quarter. Polaris Greystone Financial Group LLC now owns 1,013 shares of the electric vehicle producer’s stock valued at $337,000 after buying an additional 30 shares during the last quarter. Hanson McClain Inc. increased its holdings in shares of Tesla by 3.9% during the fourth quarter. Hanson McClain Inc. now owns 994 shares of the electric vehicle producer’s stock valued at $331,000 after purchasing an additional 37 shares during the period. Regentatlantic Capital LLC increased its holdings in shares of Tesla by 5.4% during the fourth quarter. Regentatlantic Capital LLC now owns 879 shares of the electric vehicle producer’s stock valued at $293,000 after purchasing an additional 45 shares during the period. Sage Capital Advisors llc increased its holdings in shares of Tesla by 57.7% during the fourth quarter. Sage Capital Advisors llc now owns 123 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 45 shares during the period. Finally, Garde Capital Inc. increased its holdings in shares of Tesla by 2.3% during the third quarter. Garde Capital Inc. now owns 2,104 shares of the electric vehicle producer’s stock valued at $733,000 after purchasing an additional 47 shares during the period. Institutional investors and hedge funds own 59.50% of the company’s stock.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, 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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