Stellantis (NYSE:STLA) Coverage Initiated at Evercore ISI

Evercore ISI began coverage on shares of Stellantis (NYSE:STLA) in a report issued on Monday morning, MarketBeat reports. The brokerage issued an inline rating on the stock.

STLA has been the subject of several other reports. Nomura Securities raised shares of Stellantis from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 31st. Barclays lowered Stellantis from an “overweight” rating to an “equal weight” rating in a research report on Thursday, October 3rd. Wolfe Research reiterated a “peer perform” rating on shares of Stellantis in a report on Thursday, September 5th. Royal Bank of Canada restated a “sector perform” rating on shares of Stellantis in a report on Friday, October 4th. Finally, Nomura upgraded Stellantis from a “neutral” rating to a “buy” rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.34.

Stellantis Stock Performance

Shares of STLA stock opened at $13.38 on Monday. The firm has a 50 day moving average of $14.07 and a 200-day moving average of $17.70. The company has a market cap of $41.90 billion, a price-to-earnings ratio of 4.21, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a quick ratio of 0.85, a current ratio of 1.14 and a debt-to-equity ratio of 0.26. Stellantis has a 52 week low of $12.74 and a 52 week high of $29.51.

Hedge Funds Weigh In On Stellantis

A number of hedge funds have recently bought and sold shares of the company. Verition Fund Management LLC raised its holdings in shares of Stellantis by 436.3% in the third quarter. Verition Fund Management LLC now owns 281,765 shares of the company’s stock valued at $3,959,000 after purchasing an additional 229,229 shares during the last quarter. Captrust Financial Advisors grew its position in Stellantis by 5.9% in the 3rd quarter. Captrust Financial Advisors now owns 3,233,320 shares of the company’s stock worth $45,328,000 after purchasing an additional 181,052 shares in the last quarter. Conifer Management L.L.C. grew its position in Stellantis by 26.4% in the 3rd quarter. Conifer Management L.L.C. now owns 9,000,000 shares of the company’s stock worth $126,450,000 after purchasing an additional 1,880,000 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. lifted its position in shares of Stellantis by 14.4% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 51,673 shares of the company’s stock worth $726,000 after buying an additional 6,509 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Stellantis by 18.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,099,313 shares of the company’s stock worth $15,223,000 after buying an additional 168,520 shares during the last quarter. 59.48% of the stock is owned by hedge funds and other institutional investors.

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.