Stellantis (NYSE:STLA) Downgraded by Piper Sandler to "Neutral"

Stellantis (NYSE:STLA - Get Free Report) was downgraded by research analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued to clients and investors on Thursday, Marketbeat reports. They presently have a $13.00 target price on the stock, down from their prior target price of $23.00. Piper Sandler's price objective would indicate a potential upside of 5.82% from the stock's previous close.

A number of other research analysts have also issued reports on STLA. Cowen assumed coverage on shares of Stellantis in a research note on Thursday, March 6th. They set a "hold" rating on the stock. TD Cowen began coverage on Stellantis in a research report on Friday, March 7th. They set a "hold" rating and a $13.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Stellantis presently has an average rating of "Hold" and an average target price of $19.27.

Stellantis Stock Performance

Shares of NYSE STLA traded up $0.22 during mid-day trading on Thursday, hitting $12.29. 12,709,785 shares of the company were exchanged, compared to its average volume of 8,842,886. The stock has a 50 day simple moving average of $13.01 and a 200-day simple moving average of $13.38. Stellantis has a 1-year low of $11.40 and a 1-year high of $29.51. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. The firm has a market cap of $37.14 billion, a price-to-earnings ratio of 3.60 and a beta of 1.64.

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Institutional Investors Weigh In On Stellantis

A number of institutional investors and hedge funds have recently modified their holdings of the company. Orion Portfolio Solutions LLC boosted its position in Stellantis by 7.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,184 shares of the company's stock worth $211,000 after purchasing an additional 1,149 shares in the last quarter. Prospera Financial Services Inc raised its stake in shares of Stellantis by 9.5% during the 3rd quarter. Prospera Financial Services Inc now owns 13,681 shares of the company's stock worth $192,000 after buying an additional 1,192 shares during the last quarter. Spire Wealth Management boosted its position in shares of Stellantis by 29.7% in the 4th quarter. Spire Wealth Management now owns 5,291 shares of the company's stock worth $69,000 after buying an additional 1,211 shares in the last quarter. Glenorchy Capital Ltd grew its stake in Stellantis by 4.9% in the 4th quarter. Glenorchy Capital Ltd now owns 28,701 shares of the company's stock valued at $375,000 after acquiring an additional 1,340 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in Stellantis by 10.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 16,246 shares of the company's stock valued at $212,000 after acquiring an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 59.48% of the company's stock.

About Stellantis

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.