Stellantis (NYSE:STLA) Lifted to “Buy” at Nomura

Nomura upgraded shares of Stellantis (NYSE:STLA) from a neutral rating to a buy rating in a research note released on Wednesday, Marketbeat.com reports.

Several other analysts have also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Stellantis from $26.00 to $30.40 and gave the company an overweight rating in a report on Thursday, April 11th. Barclays raised shares of Stellantis to a strong-buy rating in a research note on Monday, June 17th. Sanford C. Bernstein began coverage on shares of Stellantis in a research note on Friday, June 28th. They issued a market perform rating and a $23.50 price target for the company. Finally, Deutsche Bank Aktiengesellschaft cut Stellantis from a buy rating to a hold rating in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $30.97.

Stellantis Stock Performance

NYSE STLA opened at $16.14 on Wednesday. Stellantis has a fifty-two week low of $15.82 and a fifty-two week high of $29.51. The stock has a 50 day simple moving average of $20.20 and a two-hundred day simple moving average of $23.27. The company has a current ratio of 1.14, a quick ratio of 0.95 and a debt-to-equity ratio of 0.26.

Institutional Trading of Stellantis

Several hedge funds and other institutional investors have recently made changes to their positions in STLA. Vanguard Group Inc. grew its stake in shares of Stellantis by 1.2% in the first quarter. Vanguard Group Inc. now owns 83,818,351 shares of the company’s stock worth $2,372,059,000 after acquiring an additional 972,232 shares during the last quarter. Norges Bank purchased a new stake in Stellantis during the 4th quarter valued at about $832,785,000. Capital International Investors increased its stake in Stellantis by 329.3% during the 1st quarter. Capital International Investors now owns 22,503,781 shares of the company’s stock valued at $639,609,000 after purchasing an additional 17,261,955 shares in the last quarter. Capital World Investors increased its stake in Stellantis by 63.4% during the 1st quarter. Capital World Investors now owns 13,756,552 shares of the company’s stock valued at $390,811,000 after purchasing an additional 5,336,868 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Stellantis by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 11,532,856 shares of the company’s stock worth $326,380,000 after buying an additional 548,929 shares during the last quarter. 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.