Stellantis (NYSE:STLA) Downgraded by Zacks Research 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 report issued to clients and investors on Tuesday,Zacks.com reports.

Several other analysts also recently commented on the company. DZ Bank raised Stellantis from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, December 4th. TD Cowen reaffirmed a “hold” rating on shares of Stellantis in a research report on Friday, December 12th. Freedom Capital downgraded Stellantis from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley lowered Stellantis from an “overweight” rating to an “equal weight” rating and set a $10.90 price target for the company. in a research report on Tuesday, February 3rd. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $9.90 price objective on shares of Stellantis in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.12.

Stellantis Trading Down 0.1%

Shares of NYSE STLA opened at $6.90 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. Stellantis has a fifty-two week low of $6.85 and a fifty-two week high of $12.74. The firm’s 50-day simple moving average is $8.92 and its 200 day simple moving average is $9.87.

Hedge Funds Weigh In On Stellantis

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in Stellantis by 68.8% during the first quarter. AQR Capital Management LLC now owns 82,009 shares of the company’s stock worth $919,000 after acquiring an additional 33,429 shares during the period. Focus Partners Wealth grew its stake in Stellantis by 37.2% in the 1st quarter. Focus Partners Wealth now owns 15,261 shares of the company’s stock valued at $171,000 after purchasing an additional 4,135 shares during the period. Envestnet Asset Management Inc. grew its stake in Stellantis by 58.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 169,180 shares of the company’s stock valued at $1,696,000 after purchasing an additional 62,444 shares during the period. AE Wealth Management LLC increased its position in shares of Stellantis by 5.2% during the 2nd quarter. AE Wealth Management LLC now owns 129,850 shares of the company’s stock valued at $1,302,000 after purchasing an additional 6,377 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in shares of Stellantis during the 2nd quarter valued at $467,000. 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.