Stellantis (NYSE:STLA) Upgraded to Outperform by Sanford C. Bernstein

Posted by Defense World Staff on Nov 5th, 2023

Sanford C. Bernstein upgraded shares of Stellantis (NYSE:STLA – Free Report) from a market perform rating to an outperform rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has $26.40 target price on the stock, up from their previous target price of $18.50.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group upped their price target on Stellantis from $22.90 to $25.30 and gave the stock a buy rating in a report on Monday, July 31st. Citigroup cut Stellantis from a buy rating to a neutral rating in a report on Wednesday, August 9th. Bank of America upgraded Stellantis from a neutral rating to a buy rating in a report on Wednesday, July 12th. Finally, Barclays began coverage on Stellantis in a report on Monday, October 16th. They issued an overweight rating for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Stellantis presently has an average rating of Moderate Buy and an average price target of $25.85.

Check Out Our Latest Report on STLA

Stellantis Trading Up 2.5 %

STLA opened at $20.11 on Wednesday. The firm has a 50 day moving average price of $18.98 and a 200 day moving average price of $17.95. Stellantis has a 1 year low of $13.24 and a 1 year high of $20.71. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.29 and a quick ratio of 1.03.

Insider Activity

In other Stellantis news, major shareholder N.V. Stellantis bought 12,313,234 shares of Stellantis stock in a transaction dated Monday, October 16th. The stock was bought at an average cost of $5.68 per share, for a total transaction of $69,939,169.12. Following the purchase, the insider now owns 31,048,137 shares in the company, valued at approximately $176,353,418.16. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Stellantis

Large investors have recently added to or reduced their stakes in the company. Financial Management Professionals Inc. lifted its stake in Stellantis by 307.4% during the third quarter. Financial Management Professionals Inc. now owns 1,707 shares of the company’s stock worth $33,000 after purchasing an additional 1,288 shares during the last quarter. Fifth Third Bancorp lifted its stake in Stellantis by 484.4% during the first quarter. Fifth Third Bancorp now owns 1,724 shares of the company’s stock worth $31,000 after purchasing an additional 1,429 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Stellantis by 953.6% during the third quarter. Global Retirement Partners LLC now owns 2,318 shares of the company’s stock worth $43,000 after purchasing an additional 2,098 shares during the last quarter. Spire Wealth Management lifted its stake in Stellantis by 81.1% during the second quarter. Spire Wealth Management now owns 2,680 shares of the company’s stock worth $47,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Smithfield Trust Co lifted its stake in Stellantis by 284,200.0% during the first quarter. Smithfield Trust Co now owns 2,843 shares of the company’s stock worth $51,000 after purchasing an additional 2,842 shares during the last quarter. 28.17% of the stock is currently owned by institutional investors.

About Stellantis

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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 passenger vehicles; pickup trucks, sport utility vehicles, and commercial vehicles; and parts and services, as well as retail and dealer financing, leasing, and rental services.