Morgan Stanley Downgrades Stellantis (NYSE:STLA) to Equal Weight

Stellantis (NYSE:STLA) was downgraded by investment analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $10.90 price target on the stock. Morgan Stanley’s price target would indicate a potential upside of 6.55% from the company’s current price.

STLA has been the subject of a number of other reports. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $9.90 price target on shares of Stellantis in a research note on Wednesday, January 14th. Citigroup reaffirmed a “neutral” rating on shares of Stellantis in a research note on Tuesday, November 11th. UBS Group upgraded shares of Stellantis from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 2nd. Piper Sandler set a $15.00 price target on shares of Stellantis and gave the company an “overweight” rating in a report on Thursday, January 8th. Finally, Wall Street Zen cut shares of Stellantis from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $11.67.

Stellantis Price Performance

Stellantis stock opened at $10.23 on Tuesday. Stellantis has a 12-month low of $8.39 and a 12-month high of $14.28. The company has a current ratio of 1.06, a quick ratio of 0.77 and a debt-to-equity ratio of 0.37. The firm has a 50 day simple moving average of $10.78 and a 200-day simple moving average of $10.20.

Hedge Funds Weigh In On Stellantis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STLA. Bank of Italy grew its stake in Stellantis by 11.6% in the third quarter. Bank of Italy now owns 36,630,307 shares of the company’s stock valued at $338,212,000 after purchasing an additional 3,800,000 shares in the last quarter. Generali Asset Management SPA SGR raised its stake in shares of Stellantis by 2.2% during the 3rd quarter. Generali Asset Management SPA SGR now owns 4,743,160 shares of the company’s stock worth $44,301,000 after purchasing an additional 102,328 shares in the last quarter. Aviva PLC lifted its holdings in shares of Stellantis by 81.3% during the 2nd quarter. Aviva PLC now owns 2,322,896 shares of the company’s stock valued at $23,265,000 after buying an additional 1,041,684 shares during the last quarter. Elgethun Capital Management grew its stake in shares of Stellantis by 8.2% in the 2nd quarter. Elgethun Capital Management now owns 342,727 shares of the company’s stock valued at $3,438,000 after buying an additional 26,042 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Stellantis by 8.7% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 7,009,256 shares of the company’s stock worth $70,002,000 after buying an additional 562,789 shares during the last quarter. Institutional investors and hedge funds own 59.48% of the company’s stock.

Stellantis Company Profile

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.