Hino Motors (OTC:HINOY) Stock, Quote.Headers.trade-ideas

Hino Motors

Hino Motors Ltd is a Japanese automobile manufacturer, and a subsidiary of Toyota Motor. The company primarily manufactures and sells medium and heavy commercial vehicles, such as trucks and buses, and light commercial vehicles under the Hino brand. These operations contribute the majority of consolidated revenue. In addition, Hino manufactures passenger vehicles under the Toyota brand, along with engines and spare parts. Domestic sales represent the largest share of Hino's revenue, with Asia excluding Japan the next most significant contributor.

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Hino Motors Ltd

The auto sector is poised to grow amid the rising demand for electric vehicles and the development of advanced automotive technologies. Thus, fundamentally strong stocks like Toyota Motor (TM), Hino Motors (HINOY), and Ferrari (RACE) could be better investments than Rivian Automotive (RIVN). Read on… Global demand for Electric Vehicles (EVs) is expected to drive significant growth in the auto industry. Amid this positive background, it would be wise of you to buy up three stocks, Toyota Motor Corporation (<a href="https://stocknews.com/stock/TM/">TM</a>), Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>) and Ferrari N.V. (<a href="https://stocknews.com/stock/RACE/">RACE</a>), which are fundamentally stronger than Rivian Automotive, Inc. (<a href="https://stocknews.com/stock/RIVN/">RIVN</a>).
Automotive company RIVN posted weak financials in the last reported quarter. Although narrowing its losses compared to the prior-year period, the company still posted a $1.37 billion net loss attributable to common stockholders and a net loss per share of $1.44.
Moreover, RIVN's bleak profitability scenario is concerning. Its trailing-12-month EBIT margin and net income margin of negative 157.40% and 148.97% compare to the industry averages of 7.40% and 4.29%, respectively.
On the other hand, the overall auto industry shows strong prospects. The industry's growth is driven by global demand for vehicles, the adoption of automation and robotics technology, increasing demand for electric and hybrid vehicles, and a focus on sustainability and energy efficiency.
Vehicle sales maintained momentum this year due to a demand overhaul from previous years. Global light vehicle sales are expected to grow by <a href="https://think.ing.com/articles/car-market-update-momentum-2024">about 8% in 2023</a>. For 2024, a balance between production and sales is forecasted to be attained.
On top of it, with an unprecedented rise in the adoption of EVs, the growth in vehicle sales is expected to continue. EVs are projected to account for 40% of global auto sales by 2030, which translates to <a href="https://www.morningstar.com/stocks/we-forecast-40-global-ev-adoption-rate-by-2030-up-10-2022">roughly 40 million vehicles</a>, with an additional 20 million hybrids.
Furthermore, the global automotive industry is forecasted to grow at a 3% CAGR to reach <a href="https://www.businessresearchinsights.com/market-reports/automotive-market-102183">$3.58 trillion in 2031</a>.
With such concrete prospects in mind about the <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry, let's now dive into the stock fundamentals of the aforementioned stocks, starting with number three.
Stock #3: Toyota Motor Corporation (<a href="https://stocknews.com/stock/TM/">TM</a>)
Headquartered in Toyota, Japan, TM designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories. It operates in Automotive; Financial Services; and All Other segments.
On November 9, TM's Toyota Indiana announced a major milestone as it started production at its first-ever Lexus TX, an all-new, three-row luxury SUV. This should bolster the company's revenue stream.
On October 31, TM declared a new investment of nearly $8 billion at its Toyota Battery Manufacturing North Carolina (TBMNC), adding capacity to support Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs). This is expected to support TM's multi-pathway approach to global vehicle electrification.
For the fiscal second quarter ended September 30, 2023, TM's total sales revenues increased 24% year-over-year to ¥11.43 trillion ($75.69 billion), while its operating income increased 155.6% from the prior-year quarter to ¥1.44 trillion ($9.52 billion).
Its net income and <a href="https://www.investopedia.com/terms/e/eps.asp">earnings per share</a> attributable to TM came in at ¥1.32 trillion ($8.74 billion) and ¥94.51, registering improvements of 186.3% and 197.9% from the year-ago values, respectively.
TM's revenue is expected to increase 3.9% year-over-year to $287.41 billion for the fiscal year ending March 2024. Also, its EPS is expected to increase by 668.1% from the prior year to $20.49. Additionally, it surpassed revenue estimates in each of the trailing four quarters, which is impressive.
Shares of TM have gained 34.9% year-to-date and 30.8% over the past six months to close the last trading session at $184.22.
TM's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its promising outlook. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
The stock has an A grade for Sentiment and a B for Growth and Stability. It is ranked #25 out of 52 stocks in the B-rated <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry.
Beyond what is stated above, we've also rated TM for Value, Momentum, and Quality. Get all TM ratings <a href="https://stocknews.com/stock/TM/">here</a>.
Stock #2: Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>)
HINOY, a subsidiary of TM, is a global manufacturer of large commercial vehicles, including trucks, buses, light commercial vehicles, and passenger vehicles. Headquartered in Hino, Japan, the company also produces automotive and industrial diesel engines, along with vehicle parts.
On October 27, HINOY announced initiatives for carbon neutrality, focusing on a "Multi-Pathway" approach with internal combustion and electric vehicles, aiming to reduce CO2 emissions throughout the vehicle lifecycle.
In the same month, HINOY announced that it would be reinstated to the Commercial Japan Partnership Technologies (CJPT) project, committing to contribute to CJPT's activities for achieving a carbon-neutral society through CASE technology diffusion.
Such moves reflect HINOY's dedication to environmental goals and cooperative efforts, aiming to enhance and accelerate initiatives with partners despite previous misconduct, impacting its standing in collaborative projects.
During the fiscal period between April 1, 2023, and September 30, 2023, HINOY's net sales came in at ¥755.39 billion ($5 billion), up 3% year-over-year, while its gross profit increased marginally year-over-year to ¥124.01 billion ($820.87 million). Its interest income increased 22.1% from the prior-year period to ¥1.06 billion ($7 million).
Street expects HINOY's revenue to increase 66.3% year-over-year for the fiscal year ending March 2024 to $10.35 billion, while for the fiscal year ending March 2025, the revenue is projected to reach $11.61 billion, indicating a growth of 12.1% year-over-year.
The stock has declined 11.1% over the past six months to close the last trading session at $35.25.
HINOY's POWR Ratings reflect this promising outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
HINOY also has a B grade for Value and Stability. It is ranked #24 out of 52 stocks in the same Industry. <a href="https://stocknews.com/stock/HINOY/">Click here</a> for the additional POWR Ratings for Growth, Momentum, Sentiment, and Quality for HINOY.
Stock #1: Ferrari N.V. (<a href="https://stocknews.com/stock/RACE/">RACE</a>)
Headquartered in Maranello, Italy, RACE designs, engineers, manufactures, and sells luxury performance sports cars worldwide. It also provides spare parts, engines, after-sale services, repair, maintenance, and restoration services for cars and licenses its Ferrari brand to various producers and retailers of luxury and lifestyle goods.
On November 7, RACE declared its intention to continue its multi-year share buyback program of approximately €2 billion ($2.14 billion), expected to be executed by 2026. Such initiatives could bolster the company's shareholder returns.
For the fiscal quarter that ended September 30, 2023, RACE's net revenues increased 23.5% year-over-year to €1.54 billion ($1.65 billion), while its adjusted EBIT grew 41.5% from the year-ago quarter to €423 million ($452.41 million).
Also, the company's adjusted net profit and adjusted EPS stood at €332 million ($355.08 million) and €1.82, up 45.6% and 48% year-over-year, respectively.
RACE's revenue and EPS are expected to increase 14.5% and 29.5% year-over-year to $6.36 billion and $7.20 for the fiscal year ending December 2023. Moreover, the company topped the consensus EPS estimates in each of the trailing four quarters, which is impressive.
RACE's shares have gained 66.7% over the past year to close the last trading session at $335.89. Over the past six months, the shares have gained 14.2%.
RACE's POWR Ratings reflect a robust outlook. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
It also has an A grade for Quality and a B for Growth, Stability, and Sentiment. It is ranked #18 within the industry.
To access additional ratings for RACE's Value and Momentum, <a href="https://stocknews.com/stock/RACE/">click here</a>.
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TM shares were trading at $186.47 per share on Friday afternoon, up $2.25 (+1.22%). Year-to-date, TM has gained 38.74%, versus a 16.22% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Anushka Dutta</h2> <img src='https:/wp-content/uploads/2021/08/Anushka-Dutta_Headshot_3.jpg' style="float:left; padding:5px;width:125px;">Anushka is an analyst whose interest in understanding the impact of broader economic changes on financial markets motivated her to pursue a career in investment research.<a href="https://stocknews.com/authors/?author=anushka-dutta">More...</a>The post <a href=https://stocknews.com/news/tm-race-rivn-hinoy-3-auto-stocks-better-than-rivian-rivn/>3 Auto Stocks BETTER than Rivian (RIVN)</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Auto Stocks BETTER than Rivian (RIVN)

Recent challenges, encompassing software update glitches and substantial debt acquisition, have cast uncertainty over Rivian Automotive's (RIVN) outlook. Nevertheless, amid a booming automotive industry propelled by escalating demand and technological strides, investing in sturdy auto stocks Hino Motors (HINOY), PACCAR Inc (PCAR), and Volkswagen AG (VWAGY) could be wise. Read on… Rivian Automotive, Inc. (<a href="https://stocknews.com/stock/RIVN/">RIVN</a>) is troubled with software glitches and substantial debt accumulation. However, the flourishing automotive industry, fueled by growing demand and technological advancements, should work in favor of quality auto stocks Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>), PACCAR Inc (<a href="https://stocknews.com/stock/PCAR/">PCAR</a>), and Volkswagen AG (<a href="https://stocknews.com/stock/VWAGY/">VWAGY</a>).
Recently, EV maker RIVN released and subsequently canceled an over-the-air <a href="https://finance.yahoo.com/news/software-bricked-rivian-infotainment-systems-172425337.html">software update</a> intended for bug fixes and enhancements to the proximity locking feature. Regrettably, the update resulted in malfunctions within the infotainment systems of some Rivian R1T and R1S vehicles.
This incident could impact the company's reputation and customer satisfaction, potentially leading to increased scrutiny and a dent in consumer confidence. Shares of RIVN have plummeted 16.1% over the past month and 50.8% over the past year, closing the last trading session at $16.39.
In addition, the company is also garnering significant attention by securing <a href="https://www.reuters.com/business/autos-transportation/rivian-raise-nearly-15-bln-debt-ev-plant-georgia-2023-11-14/">nearly $15 billion</a> in debt for a new manufacturing plant in Georgia. Although this move offers growth opportunities, it also introduces financial complexities.
The capital infusion could fuel expansion and competitiveness, yet the added debt raises financial risk, impacting profitability and shaping shareholder expectations contingent on effective utilization and successful growth. While RIVN's outlook is uncertain, the broader automotive industry appears poised for significant growth.
Recent advancements, such as applications of <a href="https://builtin.com/artificial-intelligence/artificial-intelligence-automotive-industry">Artificial Intelligence (AI)</a>, Machine Learning (ML), and robotics, are revolutionizing vehicle manufacturing and usage. These technologies are reshaping automotive processes and also offering significant prospects for innovating and capitalizing on novel automotive app concepts.
Vehicles are transitioning from mere conveyance to fully connected devices. This facilitates personalized user experiences, enables seamless over-the-air updates, and spurs the creation of advanced infotainment systems, signaling a promising trajectory toward enhanced functionality and connectivity.
In October, U.S. new vehicle sales reached <a href="https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-usa-by-month">1,211,141 units</a>, increasing 2% year-over-year, propelled by a rising demand for electric vehicles (EVs) and the nation's economic recovery. For 2023, global auto sales are projected to surge to approximately <a href="https://www.reuters.com/business/autos-transportation/us-auto-sales-rise-august-increased-vehicle-supply-strong-demand-2023-08-24/">86.8 million units</a>, underscoring the industry's continued expansion.
Also, in response to international initiatives like the Paris Agreement, numerous countries are implementing stringent emissions regulations for new vehicle models. Consequently, automakers are diversifying into the electric mobility sector. In the first half of 2023, EVs experienced a remarkable <a href="https://www.autonews.com/sponsored/driving-2024-automotive-industry-trends-watch">55% increase</a> compared to the same period in the prior year.
Furthermore, EV sales reached a new pinnacle in the fiscal 2023 third quarter, <a href="https://www.coxautoinc.com/market-insights/q3-2023-ev-sales/">surpassing 300,000 units</a> for the first time in the U.S. market. EV sales through September exceeded 873,000, indicating a trajectory to surpass 1 million for the first time. This milestone is anticipated to be reached in November.
The global automotive market is expected to grow at <a href="https://www.businessresearchinsights.com/market-reports/automotive-market-102183">a CAGR of 3%</a> and reach $3.58 trillion by 2031, as per a report by Business Research Insights.
Considering the outlined factors, HINOY, PCAR, and VWAGY present better investment opportunities than RIVN. Therefore, let us dive into the fundamentals of these three <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry stocks, beginning with number three.
Stock #3: Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>)
Headquartered in Hino, Japan, HINOY manufactures and sells trucks, sightseeing buses, route buses, and industrial diesel engines. The company is also involved in the production of machined parts, forged parts, dies, and electrical components, as well as the assembly of automobiles and unit parts.
On May 30, HINOY, Daimler Truck Holding AG (<a href="https://stocknews.com/stock/DTRUY/">DTRUY</a>), Mitsubishi Fuso Truck and Bus Corporation (MFTBC), and Toyota Motor Corporation (<a href="https://stocknews.com/stock/TM/">TM</a>) formalized a Memorandum of Understanding (MoU) to expedite advanced technology development and merge MFTBC with HINOY.
The merger entails commercial vehicle development, procurement, and production collaboration, aiming to establish a globally competitive Japanese commercial vehicle manufacturer. This would allow HINOY to leverage synergies, optimize resources, and enhance market competitiveness, potentially leading to increased profitability and growth.
On May 2, HINOY signed an exclusive distribution agreement with Hexagon Purus ASA (HPURF) for a complete <a href="https://finance.yahoo.com/news/hino-trucks-partners-distribute-battery-120000085.html">battery electric tractor</a> incorporating HPURF's zero-emission technology. The collaboration is expected to benefit HINOY by diversifying its product portfolio, tapping into the growing market for electric vehicles, and potentially increasing revenue and market share.
From April 1, 2023, to September 30, 2023, HINOY's net sales increased 3% year-over-year to ¥755.39 billion ($5 billion). Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> marginally grew from the year-ago value to ¥124.01 billion ($821.27 million).
In addition, as of September 30, 2023, the company's cash and deposits stood at ¥87.82 billion ($581.59 million), compared to ¥82.15 billion ($544.05 million) as of March 31, 2023. Its total assets amounted to ¥1.42 trillion ($9.42 billion), compared to ¥1.36 trillion ($9.02 billion) as of March 31, 2023.
For the ongoing fiscal year ending March 2024, HINOY's revenue is expected to increase 66.3% year-over-year to $10.35 billion. The company's revenue for the next fiscal year (ending March 2025) is estimated to grow 11.9% from the previous year to $11.59 billion. HINOY has plunged 11.1% over the past six months to close the last trading session at $35.25.
HINOY's positive fundamentals are apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, equating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
HINOY has a B grade for Value and Stability. It is ranked #23 in the 52-stock B-rated <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry.
In addition to the POWR Ratings I've highlighted, you can see HINOY's ratings for Growth, Momentum, Quality, and Sentiment <a href="https://stocknews.com/stock/HINOY/">here</a>.
Stock #2: PACCAR Inc (<a href="https://stocknews.com/stock/PCAR/">PCAR</a>)
PCAR designs, manufactures, and distributes a comprehensive range of commercial trucks, spanning light, medium, and heavy-duty categories. It operates across three segments: Truck; Parts; and Financial Services. The company produces and markets industrial winches under the Braden, Carco, and Gearmatic brand names.
On September 6, PCAR, in collaboration with Accelera by Cummins, the zero-emissions business unit of Cummins Inc. (<a href="https://stocknews.com/stock/CMI/">CMI</a>), and Daimler Trucks &amp; Buses US Holding LLC, announced their strategic partnership to expedite and localize battery cell production and supply chain in the United States.
With a $2-3 billion investment, the venture aims to manufacture battery cells, driving electric commercial vehicles and industrial applications while creating jobs in the clean technology sector. This initiative could position PCAR at the forefront of sustainable technology, ensuring a robust presence in the evolving market.
On May 2, PCAR and Toyota Motor North America, Inc. (Toyota) unveiled an expanded partnership to develop zero-emissions hydrogen fuel cell Kenworth and Peterbilt trucks. The alliance could enhance PCAR's industry-leading eco-friendly vehicle lineup and increase market demand and operational efficiency gains.
For the third quarter that ended September 30, 2023, PCAR's net sales and revenues from the Truck, Parts and Other segment increased 23.1% year-over-year to $8.23 billion, while its revenues from the Financial Services segment grew 24.8% from the year-ago value to $464.10 million.
Moreover, the company's net income and net income per share rose 59.7% and 59.2% from the prior year's period to $1.23 billion and $2.34, respectively.
For the fiscal year ending December 2023, analysts expect PCAR's revenue to increase 22.1% year-over-year to $33.34 billion. The company's EPS for the current year is expected to rise 56.9% from the prior year to $9.03. Moreover, the company topped the consensus revenue and EPS estimates in all four trailing four quarters.
Shares of PCAR have gained 38.5% year-to-date, closing the last trading session at $90.91.
PCAR's robust prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
PCAR has a B grade for Growth, Sentiment, and Quality. It is ranked #16 out of 52 stocks within the Auto &amp; Vehicle Manufacturers industry.
<a href="https://stocknews.com/stock/PCAR/">Click here</a> to access the additional PCAR ratings (Momentum, Stability, and Value). 
Stock #1: Volkswagen AG (<a href="https://stocknews.com/stock/VWAGY/">VWAGY</a>)
VWAGY, based in Wolfsburg, Germany, manufactures and sells automobiles under brand names such as Volkswagen, Audi, Lamborghini, Bentley, Ducati, Porsche, Volkswagen Truck &amp; Bus, and Bugatti. The company's segments include Passenger Cars and Light Commercial Vehicles; Commercial Vehicles; Power Engineering; and Financial Services.
VWAGY maintained a robust trajectory, reporting increased sales volumes and revenues in the fiscal third quarter. The company has revised its fiscal year 2023 outlook, projecting deliveries between 9 and 9.5 million vehicles. Additionally, it anticipates Group sales revenue to be 10 to 15% higher than the previous year's figure.
Also, on June 21, VWAGY reported a strategic realignment, prioritizing profitability, enhanced cash flows, and reduced capital intensity. Each brand is initiating its inaugural performance program. The paradigm shift prioritizes sustainable value creation over traditional volume growth, marking a strategic evolution for future success.
For the fiscal third quarter, VWAGY's sales revenue increased 11.6% year-over-year to €78.85 billion ($85.55 billion). Its operating result rose 14.9% from the year-ago value to €4.89 billion ($5.31 billion).
Furthermore, the company's earnings after tax grew 103.6% from the prior year's quarter to €4.35 billion ($4.72 billion), while cash inflow from operating activities increased 3% year-over-year to €5.53 billion ($6 billion).
The consensus revenue estimate of $338.32 billion for the fiscal year ending December 2023 indicates a 12.8% year-over-year improvement. Likewise, the consensus EPS estimate of $5.55 exhibits a 74.5% rise from the previous year. Furthermore, the company surpassed the consensus revenue estimate in three of the four trailing quarters.
Over the past five days, the stock has gained 6.5%, closing the last trading session at $13.01.
VWAGY's strong outlook is apparent in its POWR Ratings. The stock has an overall rating of A, translating to a Strong Buy in our proprietary rating system.
VWAGY has an A grade for Value and Stability and a B for Growth and Sentiment. It has ranked #7 within the same industry.
<a href="https://stocknews.com/stock/VWAGY/">Click here</a> to access additional VWAGY ratings for Momentum and Quality.
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VWAGY shares were unchanged in premarket trading Friday. Year-to-date, VWAGY has declined -13.53%, versus a 19.04% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Aanchal Sugandh</h2> <img src='https:/wp-content/uploads/2022/12/Aanchal-Sugandh_Headshot.jpg' style="float:left; padding:5px;width:125px;">Aanchal's passion for financial markets drives her work as an investment analyst and journalist. She earned her bachelor's degree in finance and is pursuing the CFA program.

She is proficient at assessing the long-term prospects of stocks with her fundamental analysis skills. Her goal is to help investors build portfolios with sustainable returns.<a href="https://stocknews.com/authors/?author=aanchal-sugandh">More...</a>The post <a href=https://stocknews.com/news/vwagy-pcar-rivn-hinoy-tm-cmi-dtruy-3-auto-stocks-to-buy-right-now-instead-of-rivn/>3 Auto Stocks to Buy Right Now Instead of RIVN</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Auto Stocks to Buy Right Now Instead of RIVN

The auto industry is set for steady growth, driven by robust new vehicle sales. Moreover, as the global auto markets are rebounding, fundamentally sound auto stocks O'Reilly Automotive (ORLY), Hino Motors (HINOY), and Cars.com (CARS) might be ideal investments for gains this week. Keep reading... Revolutionary shifts towards electric vehicles (EVs), performance-driven car upgrades, and the ongoing digital transformation through IoT, AI, and blockchain are creating lucrative opportunities in the auto industry. So, I present robust auto stocks O'Reilly Automotive, Inc. (<a href="https://stocknews.com/stock/ORLY/">ORLY</a>), Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>), and Cars.com Inc. (<a href="https://stocknews.com/stock/CARS/">CARS</a>), which are poised to capitalize on the industry tailwinds and generate stable returns this week.
In October, new vehicle sales in the U.S. totaled 1,211,141 units, marking <a href="https://www.marklines.com/en/statistics/flash_sales/automotive-sales-in-usa-by-month">a 2% year-over-year increase</a>. This growth is attributed to a surge in demand for electric vehicles (EVs) and the ongoing economic recovery of the nation.
Additionally, higher inventory levels, increased product availability, and downward pricing pressure have resulted in <a href="https://www.coxautoinc.com/market-insights/q3-2023-ev-sales/">13 consecutive quarters of EV sales growth</a> in the United States. Electric vehicle (EV) sales in the U.S. reached a record-breaking 313,086 units in the third quarter, surpassing 300,000 for the first time and marking a 49.8% increase from the same quarter last year. Year-to-date, EV sales through September exceeded 873,000 units, putting the market on track to surpass 1 million, possibly achieving this milestone in November.
Moreover, global car sales are <a href="https://think.ing.com/articles/car-market-update-momentum-2024">experiencing a resurgence in 2023</a>, rebounding strongly from the disruptions caused by the COVID-19 pandemic and supply chain issues in previous years. Forecasts indicate that the European and US markets will achieve double-digit growth this year, contributing to an estimated 8% global increase in light vehicle sales for 2023.
In addition, the surging populations' rising per capita income and inclination towards convenience while traveling are propelling the global auto market. The global automotive market is expected to grow at <a href="https://www.businessresearchinsights.com/market-reports/automotive-market-102183">a CAGR of 3%</a> and reach $3.58 trillion by 2031, as per a report by Business Research Insights.
Besides, the automotive parts market is influenced by car owners seeking to improve their vehicles' performance. Additionally, the global transportation sector's transition to electric and hybrid vehicles creates fresh prospects for manufacturers of auto components. As a result, the auto part market is expected to expand at a <a href="https://www.globenewswire.com/news-release/2023/05/23/2674420/0/en/Auto-Parts-Market-Size-Projected-to-Grow-at-a-7-5-CAGR-Report-by-Market-Research-Future-MRFR.html">CAGR of 7.5%</a> from 2023 to 2032.
Furthermore, the automotive sector is undergoing a digital transformation driven by technologies such as the Internet of Things (IoT), artificial intelligence (AI), and blockchain, leading to notable advancements in manufacturing. Service providers are leveraging AI-based vehicle inspections to broaden their scope and streamline costs.
Considering these conducive trends, let's look at the fundamentals of the three best auto stocks, starting with number 3.
O'Reilly Automotive, Inc. (<a href="https://stocknews.com/stock/ORLY/">ORLY</a>) 
ORLY is a specialty retailer of automotive aftermarket parts, tools, supplies, equipment, and accessories. Its offerings include new and remanufactured automotive hard parts and maintenance items.
On October 26, 2023, ORLY announced that it had repurchased 0.9 million shares at an average price of $938.11 per share, investing $800 million during the fiscal third quarter that ended September 30, 2023. Currently, the company has $712 million remaining under its current share repurchase authorization.
In the fiscal third quarter that ended September 30, 2023, ORLY's sales increased 10.7% year-over-year to $4.20 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> rose 11.7% from the year-ago quarter to $2.16 billion. The company's net income and EPS grew 11% and 16.9% from the prior-year quarter to $649.83 million and $10.72, respectively.
The company recently issued an updated guidance for the fiscal year 2023, outlining key financial metrics. Anticipating between 180 and 190 net new store openings, the projections include comparable store sales growth in the range of 7% to 8%. Total revenue is estimated at $15.7 billion to $15.8 billion, with gross profit expected to be 50.8% to 51.3% of sales and operating income from 19.8% to 20.3% of sales.
ORLY's EPS and revenue are expected to rise 8.8% and 5.4% year-over-year to $9.11 and $3.84 billion in the fiscal fourth quarter ending December 2023. It surpassed EPS and revenue estimates in all of the four trailing quarters, which is remarkable.
The stock has gained 17.9% over the past year to close the last trading session at $978.61. It soared 3.4% over the past month.
ORLY's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. The stock has an overall B rating, translating to Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
It has an A grade for Quality and a B for Sentiment. It is ranked #24 among 61 stocks in the A-rated <a href="https://stocknews.com/category/auto-parts/">Auto Parts</a> industry.
Beyond what is stated above, we've also rated ORLY for Growth, Value, Momentum, and Stability. Get all ORLY ratings <a href="https://stocknews.com/stock/ORLY/">here</a>.
Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>) 
Headquartered in Hino, Japan, HINOY manufactures and sells trucks, sightseeing buses, route buses, and industrial diesel engines. The company is also involved in the production of machined parts, forged parts, dies, and electrical components, as well as the assembly of automobiles and unit parts.
On October 27, HINOY unveiled its initiatives for carbon neutrality, aiming to address societal challenges such as environmental issues, logistics problems, an aging population, and the need for safety, emphasizing the importance of offering products and solutions contributing to carbon neutrality, labor efficiency, and safety.
For the six months that ended September 30, 2023, HINOY's net sales increased 3% year-over-year to ¥755.39 billion ($5.08 billion). Its gross profit rose marginally from the year-ago value to ¥124.01 billion ($824.10 million). The company's ordinary profit stood at ¥6.29 billion ($42.31 million) and comprehensive income amounted to ¥18.67 billion ($125.58 million).
Analysts expect HINOY's revenue to rise 66.3% year-over-year to $10.35 billion in the current fiscal year ending March 2024.
HINOY plunged 11.9% over the past three months to close the last trading session at $35.25.
HINOY's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, equating to Buy in our proprietary rating system.
HINOY has a B grade for Value and Stability. It is ranked #23 in the 52 stocks in the B-rated <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry.
In addition to the POWR Ratings I've highlighted, you can see HINOY's ratings for Growth, Momentum, Quality, and Sentiment <a href="https://stocknews.com/stock/HINOY/">here</a>.
Cars.com Inc. (<a href="https://stocknews.com/stock/CARS/">CARS</a>)
CARS operates as a digital marketplace and provides solutions for the automotive industry. Its platform connects car shoppers with sellers. The company offers services that connect sellers with buyers, provide financing tools, and empower shoppers with digital resources for car buying decisions.
On November 2, CARS successfully acquired D2C Media Inc., a prominent automotive technology and digital solutions provider in Canada, for CAD105 million ($76.54 million) in cash at closing, with potential additional performance-based consideration of up to CAD35 million ($25.51 million). This strategic move expands CAR's geographic reach, establishing it as a leading automotive digital solutions provider in Canada.
On October 17, CARS unveiled its new brand, "Cars Commerce," consolidating various commercial names. The goal is to streamline the car buying and selling process through a comprehensive platform covering pre- and post-sale activities, including a marketplace, digital experience, trade and appraisal services, and a media network for increased industry connections and transparency.
For the fiscal third quarter ended September 30, 2023, CARS' total revenue increased 5.9% year-over-year to $174.33 million. Its operating income came in at $14.32 million. The company's net income and earnings per share stood at $4.49 million and $0.07, compared to a net loss and loss per share of $2.94 million and $0.04 in the year-ago quarter. Its adjusted EBITDA came in at $49.49 million.
The company anticipates fourth-quarter revenue between $177 million and $179 million, showing a year-over-year growth of 5.2% to 6.4%. This outlook is supported by ongoing dealer and OEM adoption of the Cars Commerce Platform, with Dealer Revenue expected to drive growth. The guidance also includes revenue from acquiring D2C Media Inc., contributing approximately 1.5% to total revenue in the fourth quarter.
For the fiscal fourth quarter ending December 2023, CARS' EPS and revenue are expected to increase 56.5% and 6% year-over-year to $0.52 and $178.38 million. The company has exceeded the revenue estimates in three of the trailing four quarters.
The stock returned 39.2% year-to-date to close the last trading session at $19.17. It has gained 12.9% over the past month.
CARS' strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has a B grade for Value. Within the <a href="https://stocknews.com/category/auto-dealers/">Auto Dealers &amp; Rentals</a> industry, it is ranked #3 among 21 stocks.
Click <a href="https://stocknews.com/stock/CARS/">here</a> to see CARS' Growth, Momentum, Stability, Sentiment, and Quality ratings.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
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<hr />
ORLY shares were trading at $983.41 per share on Tuesday morning, up $4.80 (+0.49%). Year-to-date, ORLY has gained 16.51%, versus a 19.79% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/orly-hinoy-cars-3-auto-stocks-set-to-make-gains-this-week/>3 Auto Stocks Set to Make Gains This Week</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Auto Stocks Set to Make Gains This Week

The auto industry remains well-positioned to grow thanks to the growing adoption of electric vehicles, easing inflation, and the robust demand for auto parts. Considering these factors, it could be wise to buy fundamentally strong auto stocks, Copart (CPRT), Lear (LEA), and Hino Motors (HINOY). Read on... Easing inflation, expected interest rate cuts next year, the transition to electric vehicles (EVs), government incentives on EVs, availability of sufficient inventory, and easing supply chains are some of the factors boosting the long-term growth prospects of the auto industry.
Amid this backdrop, it could be wise to buy fundamentally strong auto stocks: Copart, Inc. (<a href="https://stocknews.com/stock/CPRT/">CPRT</a>), Lear Corporation (<a href="https://stocknews.com/stock/LEA/">LEA</a>), and Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>).
Before diving deeper into the fundamentals of the stocks, let's discuss what's shaping the auto industry's prospects.
During the pandemic, automobile sales hit a rough patch due to supply chain issues, high inflation, and other challenges. However, there has been a notable <a href="https://think.ing.com/articles/car-market-update-momentum-2024">recovery in global car sales in 2023</a>, showing a robust bounce-back from the challenges during the pandemic.
The automobile industry is benefiting from rising disposable incomes, changing consumer preferences, technological innovations, adoption of electric vehicles, expansion of public charging infrastructure, growing interest in automotive DIY, etc. U.S. new light vehicle sales in November rose <a href="https://www.coxautoinc.com/market-insights/auto-market-weekly-summary-12-11-23/">7.3% year-over-year</a>.
Based on the revival of Chinese demand, J.D. Power and GlobalData raised the annual forecast for global light-vehicle sales to 89.3 million units, rising 10% over last year. Also, global light-vehicle sales in 2024 are forecasted to grow 3% year-over-year to 92.3 million units next year.
Additionally, automobiles nowadays feature several high-end components, such as digital instrument clusters, infotainment systems, safety systems, battery management systems (BMS) and advanced telematics. The growing demand for such vehicle components should benefit the auto parts industry. The global auto parts industry is projected to grow at a <a href="https://www.researchandmarkets.com/reports/5864450/global-auto-parts-manufacturing-market-report">CAGR of 6.3%</a> to reach $939.21 billion by 2028.
Let's take a look at the fundamentals of the stocks mentioned above.
Copart, Inc. (<a href="https://stocknews.com/stock/CPRT/">CPRT</a>)
CPRT provides online vehicle auctions and remarketing services globally, connecting various stakeholders, including insurers, banks, dealers, and the public. The company's services include online seller access, salvage estimation, estimating, end-of-life vehicle processing, transportation, vehicle inspection stations, on-demand reporting, title processing and procurement, loan payoff, flexible vehicle processing programs, buy it now, member network, sales process, and dealer services.
On October 10, 2023, CPRT announced a strategic investment and partnership with Purple Wave, a pioneer in online heavy equipment auctions. CPRT's Co-CEO Jeff Liaw said, "Through our strategic investment and partnership, we will leverage our areas of expertise for the benefit of our respective marketplaces."
"And perhaps most critically, we share a fundamental approach to business – commitment to creating long-term value for our industry participants and our shareholders through excellence and innovation," he added.
In terms of the trailing-12-month net income margin, CPRT's 33.14% is 446.3% higher than the 6.07% industry average. Likewise, its 39.32% trailing-12-month EBIT margin is 304.3% higher than the industry average of 9.73%. Furthermore, the stock's 13.17% trailing-12-month Capex/Sales is 342.9% higher than the industry average of 2.97%.
For the fiscal first quarter that ended October 31, 2023, CPRT's total service revenues and vehicle sales increased 14.2% over the year-ago quarter to $1.02 billion. Its <a href="https://www.investopedia.com/terms/g/grossprofit.asp">gross profit</a> increased 25.6% year-over-year to $464.02 million. The company's net income and EPS came in at $332.53 million and $0.34 per common share, representing an increase of 35.3% and 36% year-over-year, respectively.
Street expects CPRT's EPS and revenue for the quarter ending January 31, 2024, to increase 13.9% and 8.2% year-over-year to $0.35 and $1.03 billion, respectively. The company has an impressive surprise history, surpassing the consensus EPS estimates in each of the trailing four quarters. The stock has gained 61% year-to-date to close the last trading session at $49.01.
It's no surprise that CPRT has an overall rating of B, which translates to a Buy in our <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
CPRT has an A grade for Quality and a B in Stability and Sentiment. Within the <a href="https://stocknews.com/category/auto-dealers/">Auto Dealers &amp; Rentals</a> industry, it is ranked #5 out of 20 stocks. In addition to the POWR Ratings we've stated above, we have also rated CPRT for Growth, Value, and Momentum. Get all CPRT ratings <a href="https://stocknews.com/stock/CPRT/">here.</a>
Lear Corporation (<a href="https://stocknews.com/stock/LEA/">LEA</a>)
LEA designs, develops, engineers, manufactures, assembles, and supplies automotive seating, electrical distribution systems, and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. It operates under the Seating and E-Systems segments.
On May 23, 2023, LEA announced plans to open a Connection Systems plant in Morocco, focusing on manufacturing injection molded parts and engineered plastics for automakers and LEA's E-Systems and Seating business units.
The repurposed facility in Tangier reflects LEA's commitment to global expansion, creating jobs, enhancing manufacturing capabilities in the region, and helping generate new business and increase revenues.
In terms of the trailing-12-month Return on Total Capital, LEA's 8.04% is 33.1% higher than the 6.04% industry average. Likewise, its 12.28% trailing-12-month Return on Common Equity is 7.7% higher than the industry average of 11.40%. Furthermore, the stock's 1.64x trailing-12-month asset turnover ratio is 65.3% higher than the industry average of 0.99x.
LEA's net sales for the third quarter that ended September 30, 2023, increased 10.3% year-over-year to $5.78 billion. Its net income attributable to LEA grew 21.6% year-over-year to $169.60 million. The company's adjusted EPS came in at $2.87, increasing 23.2% over the prior-year quarter.
For the quarter ending December 31, 2023, LEA's EPS and revenue are expected to increase 11.6% and 5% year-over-year to $3.14 and $5.64 billion, respectively. It topped Street EPS estimates in each of the trailing four quarters, which is impressive. The stock has gained 8.1% year-to-date to close the last trading session at $134.07.
LEA's positive outlook is reflected in its POWR Ratings. It has an overall rating of B, equating to a Buy in our proprietary rating system.
It has a B grade for Growth and Value. It is ranked #23 out of the 62 stocks in the A-rated <a href="https://stocknews.com/category/auto-parts/">Auto Parts</a> industry. <a href="https://stocknews.com/stock/LEA/">Click here</a> to see the additional ratings of LEA for Momentum, Stability, Sentiment, and Quality.
Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>)
Headquartered in Hino, Japan, HINOY manufactures and sells large commercial vehicles under the Hino brand worldwide. It offers trucks and buses, light commercial vehicles, passenger vehicles, various engines, service parts, etc.
In terms of the trailing-12-month CAPEX/Sales, HINOY's 4.24% is 42.7% higher than the 2.97% industry average. Likewise, its 1.12x trailing-12-month asset turnover ratio is 40% higher than the industry average of 0.80x.
For six months that ended September 30, 2023, HINOY's net sales increased 3% year-over-year to ¥755.39 billion ($5.17 billion). Its gross profit rose marginally over the year-ago value to ¥124.01 billion ($829.34 million). The company's operating profit stood at ¥6.77 billion ($46.37 million) and comprehensive income amounted to ¥18.67 billion ($127.87 million).
Additionally, its total assets came in at ¥1.42 trillion ($9.73 billion), compared to ¥1.36 trillion ($9.31 billion) at the end of the fiscal year ended March 31, 2023.
Analysts expect HINOY's revenue for the fiscal 2024 to increase 65.2% year-over-year to $10.29 billion. Over the past month, its stock has declined 8.9% to close the last trading session at $32.11.
HINOY's strong fundamentals are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has a B grade for Value and Stability. It is ranked #22 out of the 51 stocks in the <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry. In addition to the POWR Ratings highlighted above, you can see HINOY's ratings for Growth, Momentum, Sentiment, and Quality, <a href="https://stocknews.com/stock/HINOY/">here</a>.
What To Do Next?
Discover 10 widely held stocks that our proprietary model shows have tremendous downside potential. Please make sure none of these "death trap" stocks are lurking in your portfolio:
<a href="https://report.stocknews.com/free-report/10-stocks-to-sell/?formplacement=artbotad_10sell">10 Stocks to SELL NOW! &gt;</a>

<hr />
CPRT shares were trading at $48.92 per share on Tuesday morning, down $0.09 (-0.18%). Year-to-date, CPRT has gained 60.68%, versus a 22.31% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Dipanjan Banchur</h2> <img src='https:/wp-content/uploads/2021/11/Dipanjan-Banchur_headshots_3.jpg' style="float:left; padding:5px;width:125px;">Since he was in grade school, Dipanjan was interested in the stock market. This led to him obtaining a master's degree in Finance and Accounting. Currently, as an investment analyst and financial journalist, Dipanjan has a strong interest in reading and analyzing emerging trends in financial markets.<a href="https://stocknews.com/authors/?author=dipanjan-banchur">More...</a>The post <a href=https://stocknews.com/news/cprt-lea-hinoy-top-3-auto-stocks-accelerating-into-financial-triumphs/>Top 3 Auto Stocks Accelerating Into Financial Triumphs</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

Top 3 Auto Stocks Accelerating Into Financial Triumphs

Toyota is top-selling automaker yet again, but testing scandal fallout looms

The auto industry is growing due to factors including solid consumer demand, the transition to electric vehicles, global supply chain improvements, and increased adoption of advanced automotive technologies. All these factors are contributing to its optimistic outlook. Therefore, investors could consider adding fundamentally strong auto stocks, Hino Motors (HINOY), Renault (RNLSY), and Blue Bird (BLBD) to their watchlist. Read more... The auto industry has been growing due to robust customer demand, rapid electric vehicle (EV) adoption and the growing interest around them, government incentives, and eased global supply chains. Moreover, the anticipated interest rate cuts by central banks around the world are expected to bolster the industry's expansion further.
Amid this backdrop, it could be wise to add fundamentally strong auto stocks, Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>), Renault SA (<a href="https://stocknews.com/stock/RNLSY/">RNLSY</a>), and Blue Bird Corporation (<a href="https://stocknews.com/stock/BLBD/">BLBD</a>) to one's watchlist.
Before delving deeper into their fundamentals, let's discuss what's shaping the auto industry's prospects.
Last year, the auto industry rebounded strongly despite high inflation and rising interest rates, with manufacturers ramping up production to meet demand and benefiting from eased supply chains. This year, despite challenges such as higher vehicle prices, the industry is set for growth driven by manufacturer promotions, increasing electric vehicle adoption, rising disposable incomes, and technological advancements.
The industry is expected to benefit from interest rate cuts this year as it will make borrowing cheaper. Global automotive sales are projected to grow from 91 million units last year to <a href="https://finance.yahoo.com/news/global-automotive-industry-outlook-total-141700708.html">96 million units this year</a>, growing at a rate between 5% and 7% year-over-year.
Electric vehicles are becoming more popular, boosting the auto industry. With concerns about the environment, availability of charging stations, lower prices, and government support, electric cars are in high demand. According to BloombergNEF's electric vehicle outlook, there will be <a href="https://assets.bbhub.io/professional/sites/24/2431510_BNEFElectricVehicleOutlook2023_ExecSummary.pdf">730 million passenger EVs</a> on the road in 2040, reaching 44% of global passenger vehicle sales by 2030.
Meanwhile, U.S. new vehicle sales are expected to rise by <a href="https://www.reuters.com/business/autos-transportation/us-new-vehicle-sales-rise-1-2024-report-2023-12-13/">1% to 15.7 million units this year</a>, facing potential demand pressures from high interest rates despite improved vehicle supply. The share of electric vehicles in total new vehicle sales is expected to increase to 8% in 2024, up from 6.9% in November 2023.
Considering these conducive trends, let's analyze the fundamental aspects of the three <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> picks, beginning with the third choice.
Stock #3: Hino Motors, Ltd. (<a href="https://stocknews.com/stock/HINOY/">HINOY</a>)
Headquartered in Hino, Japan, HINOY manufactures and sells large commercial vehicles under the Hino brand worldwide. It offers trucks and buses, light commercial vehicles, and passenger vehicles, as well as various engines, service parts, etc.
In terms of forward <a href="https://www.investopedia.com/terms/e/enterprisevaluesales.asp">EV/Sales</a>, HINOY's 0.39x is 78.5% lower than the 1.79x industry average. Its 11.13x forward EV/EBITDA is 5.9% lower than the 11.83x industry average. Likewise, its 0.18x forward Price/Sales is 87.5% lower than the 1.43x industry average.
For the third quarter that ended December 31, 2023, HINOY's net sales increased 2.8% year-over-year to ¥1.14 trillion ($7.69 billion). Its operating income came in at ¥4.67 billion ($31.45 million). The company's ordinary income stood at ¥4.06 billion ($27.37 million).
Additionally, its total assets came in at ¥1.40 trillion ($9.46 billion), compared to ¥1.36 trillion ($9.17 billion) at the end of the fiscal year ended March 31, 2023.
Street expects HINOY's revenue for the quarter ending September 30, 2024, to increase 17.3% year-over-year to $3.01 billion. Its EPS for fiscal 2024 is expected to increase 65.7% year-over-year to $10.32 billion. Over the past month, the stock has gained 3.6% to close the last trading session at $33.25.
HINOY's strong fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. It has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its own weighting.
It is ranked #22 out of 51 stocks in the <a href="https://stocknews.com/category/auto-vehicle-makers/">Auto &amp; Vehicle Manufacturers</a> industry. It has a B grade for Value and Stability. To see HINOY's Growth, Momentum, Sentiment, and Quality ratings, <a href="https://stocknews.com/stock/HINOY/">click here</a>.
Stock #2: Renault SA (<a href="https://stocknews.com/stock/RNLSY/">RNLSY</a>)
Based in Boulogne-Billancourt, France, RNLSY engages in the design, manufacture, sale, repair, maintenance, and leasing of motor vehicles. It also participates in the design and production of parts and equipment used for manufacturing and operating vehicles. The company operates through Automotive, Sale Financing, and Mobility Services segments.
In terms of forward EV/EBITDA, RNLSY's 7.52x is 23.6% lower than the 9.83x industry average. Its 1.04x forward EV/Sales is 13.9% lower than the 1.21x industry average. Likewise, its 0.18x forward Price/Sales is 80.3% lower than the 0.91x industry average.
RNLSY's group revenues for the six months ended June 29, 2023, increased 27.3% year-over-year to €26.85 billion ($29 billion). Its operating income increased 127.1% year-over-year to €2.10 billion ($2.26 billion). The company's net income and group share came in at €2.09 billion ($2.25 billion), compared to a net loss of €1.37 billion ($1.48 billion) in the year-ago period.
Moreover, its free cash flow increased 85.7% year-over-year to €1.78 billion ($1.92 billion). Also, its income per share came in at €7.70.
Street expects RNLSY's revenue for the quarter ended December 31, 2023, to increase 3.2% year-over-year to $17.07 billion. Its EPS for fiscal 2023 is expected to increase 16.3% year-over-year to $57.58 billion. Over the past three months, the stock has gained 6.2% to close the last trading session at $7.62.
RNLSY's solid prospects are reflected in its POWR Ratings. It has an overall rating of B, which translates to a Buy in our proprietary rating system.
It has an A grade for Growth and Value and a B for Stability. Within the same industry, it is ranked #20. Beyond the grades mentioned, we have also rated RNLSY for Momentum, Sentiment, and Quality. Get all ratings <a href="https://stocknews.com/stock/RNLSY/">here</a>.
Stock #1: Blue Bird Corporation (<a href="https://stocknews.com/stock/BLBD/">BLBD</a>) 
BLBD designs, engineers, manufactures, and sells school buses and related parts in the United States, Canada, and internationally. It operates through two segments: Bus and Parts.
On January 16, 2024, BLBD announced its reception of the largest single order of electric school buses from the Los Angeles Unified School District, totaling 180 buses, aiding the district's shift to zero-emission student transportation, with delivery anticipated starting October 2024.
In terms of forward non-GAAP P/E, BLBD's 16.19x is 13.8% lower than the 18.79x industry average. Its 0.86x forward EV/Sales is 52.1% lower than the 1.79x industry average. Likewise, its 11.37x forward EV/EBIT is 31.4% lower than the 16.56x industry average.
BLBD's net sales for the fiscal fourth quarter ended September 30, 2023, increased 17.6% year-over-year to $302.96 million. Its non-GAAP net income and EPS came in at $21.35 million and $0.66, respectively, compared to a non-GAAP net loss and loss per share of $21.38 million and $0.66.
For the quarter ended December 31, 2023, BLBD's revenue is expected to increase 16.7% year-over-year to $275.13 million. Its EPS for the quarter ending March 31, 2024, is expected to increase 100.3% year-over-year to $0.54. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past year, the stock has gained 98% to close the last trading session at $30.91.
BLBD's POWR Ratings reflect its positive outlook. It has an overall rating of B, equating to a Buy in our proprietary rating system.
Within the Auto &amp; Vehicle Manufacturers industry, it is ranked #18. It has an A grade for Quality and a B for Growth. <a href="https://stocknews.com/stock/BLBD/">Click here</a> to see BLBD's Value, Momentum, Stability, and Sentiment ratings.
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<hr />
RNLSY shares were trading at $7.67 per share on Monday afternoon, up $0.05 (+0.64%). Year-to-date, RNLSY has declined -5.43%, versus a 3.71% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Abhishek Bhuyan</h2> <img src='https:/wp-content/uploads/2023/07/ABhuyan.jpg' style="float:left; padding:5px;width:125px;">Abhishek embarked on his professional journey as a financial journalist due to his keen interest in discerning the fundamental factors that influence the future performance of financial instruments.<a href="https://stocknews.com/authors/?author=abhishek-bhuyan">More...</a>The post <a href=https://stocknews.com/news/rnlsy-hinoy-blbd-3-weekly-auto-stock-gainers-to-watch-closely/>3 Weekly Auto Stock Gainers to Watch Closely</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Weekly Auto Stock Gainers to Watch Closely

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Overlooked <a href="https://investorplace.com/industries/consumer-discretionary/automotive/electric-vehicles/">EV stocks</a> are an appealing investment case in 2024 since, by the end of a year that will also see a decrease in the benchmark interest rate, sales of electric vehicles will <a href="https://www.iea.org/energy-system/transport/electric-vehicles">reach over 17 million units</a> or more than 20% of all new automobiles sold globally. When comparing the first quarter of 2024 to the same time in 2023, EV sales increased by almost 25%, illustrating sound progress toward this goal.



By 2024, EV sales are expected to account <a href="https://www.iea.org/reports/global-ev-outlook-2024/trends-in-electric-cars">for more than 11%</a> of new vehicle sales in the U.S., but China remains the biggest market, accounting for around 60% of all EV sales worldwide.



In dollar terms, estimates peg the industry <a href="https://www.statista.com/outlook/mmo/electric-vehicles/worldwide">value at $623.3 billion</a>, with forecasts for it to grow to $906.7 billion by 2028. Overlooked EV stocks are a great way to play this expanding market, especially with the prospects for interest rates going down this year, prompting further cash infusions into the stock market.



With upsides of 50% to over 100%, pick-and-shovel overlooked EV stocks are in a stronger position than out-and-out EV stocks since they haven&rsquo;t profited as much from the Q1&rsquo;24 rally. Although one rate drop this year is disappointing, we are in an election year, so additional domestic policy actions like the <a href="https://www.whitehouse.gov/cleanenergy/inflation-reduction-act-guidebook/">Inflation Reduction Act</a> will lead to an outsized impact on these overlooked EV stocks.



<h2>Blink Charging (BLNK)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/04/blnk-stock-300x169.jpg" alt="a blink charging station, BLNK stock"><div>Source: David Tonelson/Shutterstock.com</div></div>Blink Charging (NASDAQ:<a href="https://investorplace.com/stock-quotes/blnk-stock-quote/">BLNK</a>) stock is down 50% this year, <a href="https://finance.yahoo.com/news/blink-charging-co-surpasses-analyst-191611692.html">despite its Q1 2024 quarterly loss</a> of $0.13 per share being smaller than analysts&rsquo; $0.24 loss per share, and its revenues of $37.57 million topping analysts&rsquo; projection of $33.38 million by 12.55%.



Product sales for Blink Charging rose 68% to $27.5 million in 2023, increasing customer numbers buying commercial charges drove this surge.



Carsharing, network fees, and service charges drove a 72% increase in service revenues to $8.2 million as more people used Blink&rsquo;s chargers locally and abroad and added carshare programs.



Besides the earnings beat, BYD&rsquo;s (OTCMKTS:<a href="https://investorplace.com/stock-quotes/byddy-stock-quote/">BYDDY</a>) official dealership in Mexico Grupo Fame, <a href="https://finance.yahoo.com/news/byd-official-dealership-mexico-owned-121500425.html">selected</a> Blink Charging for EV charging. Additionally, the dealership will install Blink Level 2 chargers and soon add DC fast chargers to boost its EV infrastructure.



In addition, Keystone Purchasing Network <a href="https://blinkcharging.com/news/keystone-purchasing-network-exclusively-chooses-blink-charging">is hiring</a> Blink Charging as its exclusive EV charging supplier.



On the product side, Blink Charging is <a href="https://www.reuters.com/business/autos-transportation/blink-launch-fast-charger-evs-with-teslas-charging-port-2023-06-12/">integrating</a> North American charge standard (NACS) connections to all its charging devices, making Blink&rsquo;s chargers more user-friendly and compatible with more EV vehicles. Consensus views <a href="https://www.tipranks.com/stocks/BLNK/forecast">point to a potential 107% upside</a>.



<h2>EVgo (EVGO)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/04/evgo-clii-stock-300x169.jpg" alt="EVgo fast charging station"><div>Source: Sundry Photography / Shutterstock.com</div></div>EVgo (NASDAQ:<a href="https://investorplace.com/stock-quotes/evgo-stock-quote/">EVGO</a>) recorded <a href="https://investors.evgo.com/news/news-details/2024/EVgo-Inc.-Reports-Record-First-Quarter-2024-Results/default.aspx#:~:text=Revenue%20reached%20a%20record%20%2455.2,including%20EVgo%20eXtend%E2%84%A2%20stalls.">record revenue of $55.2 million</a> for the first quarter of 2024, up 118% from the previous year. Additionally, the network throughput increased by 194% from the previous year to a record 53 gigawatt-hours (GWh), and EVgo installed 250 additional operating slots.



In the first quarter of 2024, the EVGO network was used about 19% of the time, up from 9% during the same time last year; the upside on EVGO stock is phenomenal at 106%, making it one of the top overlooked EV stocks.



With the help of key site host partners, EVgo found more than 100,000 possible charging stations and is now focusing on putting more fast charging stations in places that are easy for cars to access.



In addition, drivers who buy or lease a new 2024 bZ4X will get a year of free, fast charging as part of EVgo&rsquo;s <a href="https://investors.evgo.com/news/news-details/2024/EVgo-and-Toyota-Extend-Agreement-to-Provide-One-Year-of-Complimentary-Fast-Charging-to-2024-bZ4X-Customers/default.aspx">expanded partnership</a> with Toyota (NYSE:<a href="https://investorplace.com/stock-quotes/tm-stock-quote/">TM</a>).



Furthermore, EVgo said that later in 2024 it will <a href="https://www.evgo.com/press-release/evgo-doubles-down-on-commitment-to-begin-nacs-deployments-in-2024/">start adding NACS connections</a> to its fast-charge network.



<h2>Panasonic (PCRFY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/05/pcrfy1600a-300x169.jpg" alt="A Panasonic (PCRFY) sign hanging in Beijing, China. generation z"><div>Source: testing/Shutterstock.com</div></div>Panasonic&nbsp;(OTCMKTS:<a href="https://investorplace.com/stock-quotes/pcrfy-stock-quote/">PCRFY</a>) is adopting Titan Silicon anode material from Sila Nanotechnologies to create better EV batteries with greater energy.



In addition, Panasonic <a href="https://www.kansascommerce.gov/2022/07/kansas-lands-4b-4000-job-panasonic-energy-electric-vehicle-battery-plant/">is investing $4 billion</a> in De Soto, Kansas, to construct the world&rsquo;s largest EV battery facility, which will create jobs for 4,000 people and provide Tesla (NASDAQ:<a href="https://investorplace.com/stock-quotes/tsla-stock-quote/">TSLA</a>) with high-capacity lithium-ion batteries.



Panasonic Energy batteries will be <a href="https://news.panasonic.com/global/press/en240520-2">used in the upcoming</a> Tern zero-emission automobiles. This is their first industrial car. In collaboration with Hexagon Purus (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hpurf-stock-quote/">HPURF</a>) and Hino Motors (OTCMKTS:<a href="https://investorplace.com/stock-quotes/hinoy-stock-quote/">HINOY</a>), this project produces batteries for the U.S. market for the RC8, a battery-electric Class 8 tractor.



Moreover, Panasonic plans to double its production of batteries for electric vehicles by 2030 <a href="https://holdings.panasonic/global/corporate/panasonic-green-impact/challenge.html">as part of the Green IMPACT initiative</a>; Panasonic hopes to reach net-zero emissions and eliminate 300 million tons of CO2 emissions by 2050.



Another step in the right direction is that Panasonic and Novonix (OTCMKTS:<a href="https://investorplace.com/stock-quotes/nvnfx-stock-quote/">NVNFX</a>) <a href="https://na.panasonic.com/us/news/panasonic-energy-partners-novonix-sustainable-synthetic-graphite-supply-ev-battery-production">have teamed to acquire</a> synthetic graphite for EV batteries.<a href="https://investorplace.com/stock-quotes/-stock-quote/"></a> Panasonic intends to use this agreement to improve its supply chain and cut its carbon footprint from 2022 levels by 50% by 2031.



Aside from its EV intentions, investors can take solace in Panasonic&rsquo;s revenue diversity since it can keep investing in EVs while having diversification buffer its performance; analysts are predicting an upside of 48.5%.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/06/ride-the-ev-wave-3-overlooked-stocks-fueling-the-electric-vehicle-revolution/">Ride the EV Wave: 3 Overlooked Stocks Fueling the Electric Vehicle Revolution</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Hino Motors

Hino Motors (HINOY) Forecast

Hino Motors (OTC:HINOY) Stock, Quote.Headers.trade-ideas