Stellantis (NYSE:STLA) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Stellantis from “sell” to “strong sell,” while other analysts also turned more bearish, including Bernstein and Morgan Stanley.
• Stellantis has an overall “Reduce” consensus rating, with a consensus price target of $7.38; shares recently opened at $4.05 and remain near their 52-week low of $3.92.
• Institutional investors own 59.48% of the company, with several hedge funds recently initiating or significantly increasing their positions in Stellantis.

Stellantis (NYSE:STLA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts also recently weighed in on the stock. Sanford C. Bernstein downgraded shares of Stellantis from a "market perform" rating to an "underperform" rating in a research note on Friday, August 7th. Morgan Stanley cut shares of Stellantis from an "equal weight" rating to an "underweight" rating and set a $5.20 price objective on the stock. in a research report on Monday, September 14th. Evercore set a $7.50 price objective on shares of Stellantis in a research report on Friday, July 31st. Citigroup restated a "neutral" rating on shares of Stellantis in a research note on Thursday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating on shares of Stellantis in a research report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, ten have given a Hold rating and seven have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Stellantis presently has an average rating of "Reduce" and a consensus price target of $7.38.

Stellantis Stock Performance

Shares of STLA stock opened at $4.05 on Friday. The firm has a 50 day moving average of $4.87 and a 200-day moving average of $6.11. The company has a market cap of $15.26 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 0.37 and a beta of 1.49. The company has a quick ratio of 0.76, a current ratio of 1.04 and a debt-to-equity ratio of 0.59. Stellantis has a 52 week low of $3.92 and a 52 week high of $12.22.

Stellantis (NYSE:STLA - Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $49.63 billion for the quarter. On average, equities analysts forecast that Stellantis will post 0.41 earnings per share for the current year.

Hedge Funds Weigh In On Stellantis

A number of large investors have recently modified their holdings of the company. Great Lakes Advisors LLC bought a new position in shares of Stellantis during the 2nd quarter valued at $1,936,000. Engineers Gate Manager LP lifted its holdings in shares of Stellantis by 439.1% during the second quarter. Engineers Gate Manager LP now owns 333,091 shares of the company's stock valued at $1,894,000 after purchasing an additional 271,303 shares during the last quarter. Ellsworth Advisors LLC purchased a new position in shares of Stellantis during the third quarter valued at approximately $2,022,000. TD Waterhouse Canada Inc. boosted its position in shares of Stellantis by 7,589.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 553,669 shares of the company's stock worth $2,597,000 after purchasing an additional 546,469 shares in the last quarter. Finally, Chou Associates Management Inc. bought a new stake in shares of Stellantis in the 2nd quarter worth approximately $8,003,000. 59.48% of the stock is currently owned by institutional investors.

Stellantis Company Profile

Stellantis N.V. NYSE: STLA is a global automotive company formed in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company designs, engineers, manufactures and sells passenger cars, light commercial vehicles and mobility solutions across markets worldwide.

Stellantis operates a broad portfolio of automotive brands, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, FIAT, Jeep, Lancia, Maserati, Opel, Peugeot, Ram and Vauxhall. Its products range from mass-market cars and sport utility vehicles to commercial vans, performance vehicles and luxury automobiles.

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