Zacks Investment Research Lowers Stellantis (NASDAQ:STLA) to Sell

Stellantis (NASDAQ:STLA – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Stellantis N.V. is an automakers and a mobility provider. Stellantis N.V., formerly known as Fiat Chrysler Automobiles N.V., is based in LIJNDEN, Netherlands. “

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Stellantis from €27.00 ($29.03) to €21.00 ($22.58) and set an “overweight” rating on the stock in a research report on Thursday, February 24th. Societe Generale raised their price objective on shares of Stellantis from €23.00 ($24.73) to €28.00 ($30.11) and gave the stock a “buy” rating in a research report on Friday, February 25th. Bank of America downgraded Stellantis from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Royal Bank of Canada started coverage on Stellantis in a report on Wednesday, January 5th. They set a “sector perform” rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $23.00.

STLA stock opened at $13.08 on Wednesday. Stellantis has a 1-year low of $13.06 and a 1-year high of $21.99. The business’s 50 day simple moving average is $15.99 and its 200 day simple moving average is $18.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.15 and a quick ratio of 0.98.

A number of institutional investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC lifted its holdings in shares of Stellantis by 72.5% during the third quarter. Janney Montgomery Scott LLC now owns 18,317 shares of the company’s stock worth $350,000 after purchasing an additional 7,700 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of Stellantis by 6.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 138,426 shares of the company’s stock valued at $2,597,000 after buying an additional 7,892 shares during the period. Qtron Investments LLC acquired a new stake in shares of Stellantis in the third quarter valued at about $249,000. AXA S.A. raised its position in shares of Stellantis by 7.8% during the third quarter. AXA S.A. now owns 19,952,189 shares of the company’s stock worth $381,087,000 after acquiring an additional 1,451,995 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Stellantis by 3.8% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,357 shares of the company’s stock worth $401,000 after acquiring an additional 791 shares during the period. Hedge funds and other institutional investors own 52.71% of the company’s stock.

About Stellantis (Get Rating)

Stellantis N.V. engages in the design, engineering, manufacturing, distribution, and sale of automobiles and light commercial vehicles, engines, transmission systems, metallurgical products, and production systems worldwide. It provides luxury, premium, and mainstream passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.

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