Stellantis (NYSE:STLA) Raised to “Buy” at Berenberg Bank

Stellantis (NYSE:STLA) was upgraded by stock analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The firm currently has a $11.20 target price on the stock. Berenberg Bank’s price target suggests a potential upside of 13.71% from the company’s previous close.

STLA has been the subject of several other research reports. Zacks Research downgraded shares of Stellantis from a “hold” rating to a “strong sell” rating in a research note on Monday, August 25th. Jefferies Financial Group upgraded shares of Stellantis from a “hold” rating to a “buy” rating and increased their price objective for the stock from $10.25 to $13.20 in a research report on Wednesday, June 25th. Wolfe Research cut shares of Stellantis from a “peer perform” rating to an “underperform” rating in a research report on Wednesday, July 2nd. BNP Paribas upgraded shares of Stellantis to a “hold” rating in a report on Tuesday, September 9th. Finally, BNP Paribas Exane began coverage on shares of Stellantis in a report on Monday, September 8th. They issued a “neutral” rating and a $10.10 price target for the company. Two equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.04.

Stellantis Price Performance

Shares of NYSE:STLA opened at $9.85 on Friday. The company has a market cap of $29.78 billion, a price-to-earnings ratio of 2.89, a PEG ratio of 0.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.06 and a quick ratio of 0.77. The firm has a 50 day simple moving average of $9.48 and a 200 day simple moving average of $10.04. Stellantis has a one year low of $8.39 and a one year high of $16.29.

Hedge Funds Weigh In On Stellantis

Hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in Stellantis during the second quarter valued at approximately $28,000. SVB Wealth LLC purchased a new position in Stellantis during the first quarter valued at approximately $35,000. GAMMA Investing LLC grew its stake in Stellantis by 422.3% during the first quarter. GAMMA Investing LLC now owns 3,139 shares of the company’s stock valued at $35,000 after acquiring an additional 2,538 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Stellantis by 54.5% during the first quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company’s stock valued at $37,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Stellantis during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.