Stellantis (NYSE:STLA) Stock Rating Lowered by Morgan Stanley

Stellantis (NYSE:STLA) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $10.90 target price on the stock. Morgan Stanley’s price objective suggests a potential upside of 10.07% from the company’s previous close.

Several other brokerages have also recently commented on STLA. HSBC reissued a “hold” rating on shares of Stellantis in a research report on Tuesday, January 13th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $9.90 target price on shares of Stellantis in a report on Wednesday, January 14th. Wall Street Zen cut Stellantis from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Stellantis in a research report on Wednesday, January 21st. Finally, TD Cowen reiterated a “hold” rating on shares of Stellantis in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.67.

Stellantis Price Performance

NYSE STLA opened at $9.90 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average of $10.80 and a two-hundred day moving average of $10.19. Stellantis has a 1-year low of $8.39 and a 1-year high of $14.28.

Institutional Investors Weigh In On Stellantis

Several institutional investors have recently added to or reduced their stakes in STLA. Norges Bank acquired a new stake in Stellantis during the second quarter worth approximately $384,724,000. Amundi boosted its holdings in shares of Stellantis by 41.0% in the 2nd quarter. Amundi now owns 110,680,258 shares of the company’s stock valued at $1,143,327,000 after buying an additional 32,206,884 shares in the last quarter. Quadrature Capital Ltd grew its position in shares of Stellantis by 6,148.4% in the 3rd quarter. Quadrature Capital Ltd now owns 14,945,564 shares of the company’s stock valued at $137,891,000 after buying an additional 14,706,375 shares during the last quarter. Bank of Italy raised its stake in Stellantis by 11.6% during the 3rd quarter. Bank of Italy now owns 36,630,307 shares of the company’s stock worth $338,212,000 after acquiring an additional 3,800,000 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in Stellantis by 137.2% in the third quarter. BNP Paribas Financial Markets now owns 5,832,266 shares of the company’s stock valued at $54,473,000 after acquiring an additional 3,373,933 shares during the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

About Stellantis

Stellantis N.V. is a global automotive manufacturer formed through the merger of Fiat Chrysler Automobiles (FCA) and Groupe PSA, a transaction completed in January 2021. The company designs, manufactures and sells a broad portfolio of passenger cars, light commercial vehicles and related powertrains under a large number of well-known brands, including (but not limited to) Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, Fiat, Jeep, Maserati, Opel, Peugeot, Ram and Vauxhall. Stellantis also provides parts, accessories, service operations and branded aftersales support through legacy networks such as Mopar and regional dealer ecosystems.

In addition to vehicle manufacturing, Stellantis operates mobility- and software-related businesses and financial services.