Zacks Research Downgrades Stellantis (NYSE:STLA) to Strong Sell

Stellantis (NYSE:STLA) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Freedom Capital lowered Stellantis from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Morgan Stanley downgraded Stellantis from an “overweight” rating to an “equal weight” rating and set a $10.90 target price on the stock. in a research note on Tuesday, February 3rd. Wolfe Research raised Stellantis from an “underperform” rating to a “peer perform” rating in a report on Monday, February 9th. TD Cowen restated a “hold” rating on shares of Stellantis in a research note on Friday, December 12th. Finally, The Goldman Sachs Group raised shares of Stellantis to a “hold” rating in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.12.

Stellantis Trading Down 0.1%

Shares of STLA stock opened at $6.90 on Tuesday. Stellantis has a 52-week low of $6.85 and a 52-week high of $12.74. The company has a current ratio of 1.02, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The stock has a fifty day simple moving average of $8.92 and a two-hundred day simple moving average of $9.87.

Institutional Investors Weigh In On Stellantis

A number of hedge funds have recently made changes to their positions in the company. Bank of Italy raised its holdings in shares of 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. Generali Asset Management SPA SGR boosted its position in shares of Stellantis by 2.2% during the 3rd quarter. Generali Asset Management SPA SGR now owns 4,743,160 shares of the company’s stock valued at $44,301,000 after acquiring an additional 102,328 shares during the last quarter. Elgethun Capital Management grew its holdings in shares of Stellantis by 8.2% in the second quarter. Elgethun Capital Management now owns 342,727 shares of the company’s stock valued at $3,438,000 after purchasing an additional 26,042 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in shares of Stellantis by 8.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,009,256 shares of the company’s stock valued at $70,002,000 after purchasing an additional 562,789 shares in the last quarter. Finally, Exane Asset Management increased its position in Stellantis by 134.3% in the third quarter. Exane Asset Management now owns 1,401,411 shares of the company’s stock worth $12,961,000 after purchasing an additional 803,186 shares during the last quarter. 59.48% of the stock is currently owned by hedge funds and other institutional investors.

Stellantis Company Profile

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.