Stellantis (NYSE:STLA) Given New $6.00 Price Target at TD Cowen

Key Points

• TD Cowen cut Stellantis’s price target from $9.00 to $6.00 while keeping a “hold” rating, implying only about 7% upside from the current share price.
• Analyst sentiment on Stellantis remains cautious overall, with a consensus “Hold” rating and an average price target of $10.01 after several recent downgrades from firms including Kepler Capital Markets and Bank of America.
• Stellantis shares were up 1.9% to $5.61, near the lower end of their 52-week range, while the company most recently reported quarterly EPS of $0.16 on revenue of $44.14 billion.

Stellantis (NYSE:STLA - Get Free Report) had its price target decreased by research analysts at TD Cowen from $9.00 to $6.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has a "hold" rating on the stock. TD Cowen's price objective points to a potential upside of 7.05% from the company's current price.

Other research analysts have also issued research reports about the company. Kepler Capital Markets lowered Stellantis from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 16th. Bank of America downgraded Stellantis from a "neutral" rating to an "underperform" rating in a report on Monday, May 11th. Weiss Ratings restated a "sell (d)" rating on shares of Stellantis in a research note on Monday, April 20th. Truist Financial set a $9.00 price objective on shares of Stellantis in a report on Friday, May 22nd. Finally, Citigroup reiterated a "neutral" rating on shares of Stellantis in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $10.01.

Stellantis Stock Up 1.9%

Shares of NYSE STLA traded up $0.10 during mid-day trading on Monday, reaching $5.61. 12,616,274 shares of the company's stock traded hands, compared to its average volume of 19,228,684. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.03 and a quick ratio of 0.75. The business has a 50-day simple moving average of $6.87 and a 200 day simple moving average of $7.94. The stock has a market cap of $21.10 billion, a P/E ratio of 22.42, a PEG ratio of 0.21 and a beta of 1.46. Stellantis has a 1-year low of $5.25 and a 1-year high of $12.22.

Stellantis (NYSE:STLA - Get Free Report) last posted its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. The business had revenue of $44.14 billion during the quarter. On average, analysts expect that Stellantis will post 0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Stellantis

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Stellantis by 68.8% in the 1st quarter. AQR Capital Management LLC now owns 82,009 shares of the company's stock valued at $919,000 after acquiring an additional 33,429 shares during the period. Focus Partners Wealth increased its stake in shares of Stellantis by 37.2% in the first quarter. Focus Partners Wealth now owns 15,261 shares of the company's stock worth $171,000 after purchasing an additional 4,135 shares in the last quarter. M&T Bank Corp bought a new stake in shares of Stellantis in the second quarter valued at approximately $154,000. EverSource Wealth Advisors LLC raised its position in shares of Stellantis by 63.8% in the second quarter. EverSource Wealth Advisors LLC now owns 6,286 shares of the company's stock valued at $63,000 after purchasing an additional 2,448 shares during the period. Finally, Cerity Partners LLC lifted its stake in shares of Stellantis by 9.2% during the 2nd quarter. Cerity Partners LLC now owns 65,473 shares of the company's stock valued at $657,000 after buying an additional 5,542 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors.

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.

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