Morgan Stanley Boosts Stellantis (NYSE:STLA) Price Target to $30.40

Stellantis (NYSE:STLA) had its price target raised by stock analysts at Morgan Stanley from $26.00 to $30.40 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 17.15% from the stock’s previous close.

A number of other research analysts also recently issued reports on STLA. Berenberg Bank reissued a “hold” rating on shares of Stellantis in a report on Tuesday, March 26th. Piper Sandler initiated coverage on Stellantis in a report on Friday, March 15th. They issued an “overweight” rating and a $39.00 price target for the company. Nomura reissued a “neutral” rating on shares of Stellantis in a report on Wednesday, March 13th. Wolfe Research began coverage on Stellantis in a report on Thursday, February 1st. They issued an “outperform” rating for the company. Finally, HSBC cut Stellantis from a “buy” rating to a “hold” rating in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.28.

Stellantis Trading Down 4.0 %

Stellantis stock opened at $25.95 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.24 and a debt-to-equity ratio of 0.24. Stellantis has a 52 week low of $15.07 and a 52 week high of $29.51. The stock has a 50-day moving average price of $26.73 and a 200 day moving average price of $22.98.

Insider Activity

In other Stellantis news, major shareholder N.V. Stellantis purchased 800,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were acquired at an average price of $4.60 per share, with a total value of $3,680,000.00. Following the purchase, the insider now directly owns 35,451,720 shares in the company, valued at approximately $163,077,912. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 3,150,000 shares of company stock valued at $15,724,500 in the last quarter. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Stellantis

Several hedge funds have recently bought and sold shares of the company. Westend Capital Management LLC acquired a new position in Stellantis during the 1st quarter worth about $38,000. Ballentine Partners LLC raised its position in Stellantis by 11.8% in the 1st quarter. Ballentine Partners LLC now owns 19,821 shares of the company’s stock valued at $561,000 after purchasing an additional 2,098 shares in the last quarter. Gunderson Capital Management Inc. acquired a new stake in Stellantis in the 1st quarter valued at about $2,642,000. Park Avenue Securities LLC raised its position in Stellantis by 9.6% in the 1st quarter. Park Avenue Securities LLC now owns 9,534 shares of the company’s stock valued at $271,000 after purchasing an additional 837 shares in the last quarter. Finally, KMG Fiduciary Partners LLC raised its position in Stellantis by 2.2% in the 1st quarter. KMG Fiduciary Partners LLC now owns 70,128 shares of the company’s stock valued at $1,985,000 after purchasing an additional 1,529 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Company Profile

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