Stellantis (NYSE:STLA) Downgraded to “Equal Weight” Rating by Morgan Stanley

Morgan Stanley cut shares of Stellantis (NYSE:STLA) from an overweight rating to an equal weight rating in a research note released on Tuesday, Marketbeat Ratings reports. The firm currently has $10.90 price objective on the stock.

Several other research analysts have also recently weighed in on STLA. Sanford C. Bernstein restated a “market perform” rating and issued a $9.90 price objective on shares of Stellantis in a research report on Wednesday, January 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Stellantis in a research note on Wednesday, January 21st. Piper Sandler set a $15.00 price target on Stellantis and gave the company an “overweight” rating in a research note on Thursday, January 8th. The Goldman Sachs Group upgraded Stellantis to a “hold” rating in a report on Monday, November 24th. Finally, DZ Bank raised Stellantis from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Stellantis currently has an average rating of “Hold” and an average target price of $11.67.

Stellantis Price Performance

Shares of NYSE STLA opened at $9.93 on Tuesday. Stellantis has a 1-year low of $8.39 and a 1-year high of $14.28. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.37. The company has a 50-day moving average of $10.79 and a two-hundred day moving average of $10.19.

Hedge Funds Weigh In On Stellantis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ballentine Partners LLC grew its position in shares of Stellantis by 66.8% during the 4th quarter. Ballentine Partners LLC now owns 31,096 shares of the company’s stock worth $339,000 after buying an additional 12,456 shares during the period. Virtus Family Office LLC boosted its stake in Stellantis by 0.8% during the 4th quarter. Virtus Family Office LLC now owns 301,164 shares of the company’s stock worth $3,281,000 after acquiring an additional 2,382 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Stellantis by 43.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 47,505 shares of the company’s stock valued at $517,000 after purchasing an additional 14,461 shares during the period. United Community Bank bought a new stake in Stellantis in the fourth quarter valued at approximately $26,000. Finally, M&T Bank Corp raised its holdings in Stellantis by 35.6% in the fourth quarter. M&T Bank Corp now owns 18,251 shares of the company’s stock worth $199,000 after purchasing an additional 4,793 shares during the period. 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.