Stellantis (NYSE:STLA) Now Covered by Sanford C. Bernstein

Stock analysts at Sanford C. Bernstein initiated coverage on shares of Stellantis (NYSE:STLA) in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $23.50 price target on the stock. Sanford C. Bernstein’s price target would suggest a potential upside of 18.39% from the company’s previous close.

Several other equities analysts have also commented on the company. Piper Sandler initiated coverage on Stellantis in a research note on Friday, March 15th. They set an “overweight” rating and a $39.00 price target on the stock. Barclays upgraded Stellantis to a “strong-buy” rating in a research note on Monday, June 17th. Nomura restated a “neutral” rating on shares of Stellantis in a research note on Wednesday, March 13th. Berenberg Bank restated a “hold” rating on shares of Stellantis in a research note on Tuesday, March 26th. Finally, Morgan Stanley raised their price target on Stellantis from $26.00 to $30.40 and gave the company an “overweight” rating in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.55.

Stellantis Stock Up 0.4 %

NYSE:STLA opened at $19.85 on Friday. Stellantis has a twelve month low of $17.19 and a twelve month high of $29.51. The stock has a fifty day simple moving average of $22.04 and a 200-day simple moving average of $23.94. The company has a current ratio of 1.24, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24.

Hedge Funds Weigh In On Stellantis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nvwm LLC purchased a new stake in shares of Stellantis during the fourth quarter worth about $885,000. Wells Fargo & Company MN grew its stake in shares of Stellantis by 12.5% during the fourth quarter. Wells Fargo & Company MN now owns 596,174 shares of the company’s stock worth $13,903,000 after acquiring an additional 66,427 shares during the last quarter. Cim LLC purchased a new stake in shares of Stellantis during the fourth quarter worth about $1,977,000. Assenagon Asset Management S.A. grew its stake in shares of Stellantis by 122.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 149,052 shares of the company’s stock worth $3,482,000 after acquiring an additional 82,074 shares during the last quarter. Finally, Freemont Management S.A. purchased a new stake in shares of Stellantis during the fourth quarter worth about $3,032,000. Hedge funds and other institutional investors 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.