Stellantis (NYSE:STLA) Downgraded to "Neutral" Rating by Bank of America

Bank of America cut shares of Stellantis (NYSE:STLA - Free Report) from a buy rating to a neutral rating in a research report released on Monday, MarketBeat.com reports. Bank of America currently has $11.75 target price on the stock, down from their prior target price of $16.50.

Several other research firms also recently issued reports on STLA. Redburn Atlantic downgraded Stellantis from a "buy" rating to a "neutral" rating in a research note on Tuesday, April 22nd. Jefferies Financial Group raised Stellantis from a "hold" rating to a "buy" rating and lifted their price target for the stock from $10.25 to $13.20 in a research note on Wednesday, June 25th. DZ Bank raised shares of Stellantis from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 22nd. UBS Group downgraded shares of Stellantis from a "buy" rating to a "neutral" rating in a research note on Monday, April 14th. Finally, Wolfe Research downgraded shares of Stellantis from a "peer perform" rating to an "underperform" rating in a research note on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Stellantis presently has an average rating of "Hold" and an average target price of $12.74.

Stellantis Price Performance

Stellantis stock traded up $0.09 during midday trading on Monday, reaching $10.37. The company's stock had a trading volume of 28,844,385 shares, compared to its average volume of 12,751,376. Stellantis has a fifty-two week low of $8.39 and a fifty-two week high of $21.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.81 and a current ratio of 1.09. The stock's 50 day simple moving average is $10.04 and its 200 day simple moving average is $11.35. The firm has a market capitalization of $31.34 billion, a PE ratio of 3.04, a P/E/G ratio of 0.45 and a beta of 1.44.

Stellantis Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 24th were issued a $0.5032 dividend. This represents a yield of 6.07%. The ex-dividend date of this dividend was Wednesday, April 23rd. Stellantis's dividend payout ratio (DPR) is 22.58%.

Institutional Trading of Stellantis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mpwm Advisory Solutions LLC purchased a new stake in Stellantis in the 4th quarter valued at about $29,000. GAMMA Investing LLC grew its holdings in Stellantis by 422.3% in the 1st quarter. GAMMA Investing LLC now owns 3,139 shares of the company's stock valued at $35,000 after buying an additional 2,538 shares during the period. SVB Wealth LLC purchased a new stake in Stellantis in the 1st quarter valued at about $35,000. Farther Finance Advisors LLC grew its holdings in Stellantis by 54.5% in the 1st quarter. Farther Finance Advisors LLC now owns 3,309 shares of the company's stock valued at $37,000 after buying an additional 1,167 shares during the period. Finally, Harbour Investments Inc. grew its holdings in Stellantis by 136.5% in the 1st quarter. Harbour Investments Inc. now owns 3,812 shares of the company's stock valued at $43,000 after buying an additional 2,200 shares during the period. 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.