Stellantis (NYSE:STLA) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Stellantis (NYSE:STLA) from a hold rating to a strong sell rating in a research report released on Monday morning,Zacks.com reports.

A number of other research firms have also weighed in on STLA. Wolfe Research lowered shares of Stellantis from a “peer perform” rating to an “underperform” rating in a research note on Wednesday, July 2nd. Bank of America lowered shares of Stellantis from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.50 to $11.75 in a research report on Monday, July 7th. Finally, Jefferies Financial Group upgraded shares of Stellantis from a “hold” rating to a “buy” rating and raised their price target for the company from $10.25 to $13.20 in a research report on Wednesday, June 25th. One research analyst has rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $12.74.

Stellantis Stock Down 3.0%

NYSE:STLA opened at $9.54 on Monday. The firm has a market capitalization of $28.83 billion, a P/E ratio of 2.80, a PEG ratio of 0.58 and a beta of 1.45. Stellantis has a 1-year low of $8.39 and a 1-year high of $16.91. The company’s fifty day moving average price is $9.67 and its 200-day moving average price is $10.52. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77.

Hedge Funds Weigh In On Stellantis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new position in Stellantis during the first quarter valued at $368,520,000. Jupiter Asset Management Ltd. purchased a new position in Stellantis during the first quarter valued at $1,755,000. LPL Financial LLC lifted its holdings in Stellantis by 32.6% during the first quarter. LPL Financial LLC now owns 244,428 shares of the company’s stock valued at $2,740,000 after purchasing an additional 60,097 shares in the last quarter. Swiss National Bank lifted its holdings in Stellantis by 0.8% during the first quarter. Swiss National Bank now owns 5,817,223 shares of the company’s stock valued at $64,526,000 after purchasing an additional 45,181 shares in the last quarter. Finally, Michels Family Financial LLC purchased a new position in Stellantis during the fourth quarter valued at $375,000. 59.48% of the stock is owned by hedge funds and other institutional investors.

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.