Listen up, electric vehicle market investors! People ask us about the best EV stocks to buy, and today we’ve got a hidden gem for you. Among our favorite A-rated stocks to buy is Blue Bird (NASDAQ:BLBD) stock.
This one could be our little secret until Blue Bird potentially becomes a darling on Wall Street someday.
Headquartered in Georgia, Blue Bird is school bus manufacturer with over 20,000 buses in operation today. The company was founded in 1927, and is successfully making the transition to clean-energy vehicles.
Most likely, BLBD stock isn’t the first EV stock on your shopping list. But then, that’s what makes it a prime opportunity.
While everybody else is obsessing over the more famous EV stocks, you can consider an investment in Blue Bird and wait for Wall Street to finally recognize the company’s full value.
Blue Bird’s Next-Generation Electric Bus Model
Great companies don’t just imitate; they innovate. Thus, Blue Bird has unveiled its next-generation, zero-emission electric school bus, known as Vision.
With the Vision vehicle model, Blue Bird has created the gold standard of electric school buses. It wouldn’t be too surprising if Vision becomes the go-to bus model for school districts around the country.
For one thing, Vision offers a battery with an over 25% “capacity increase compared to today’s model bus.” Furthermore, this battery “takes merely three hours to fully recharge” and “enables a vehicle range of up to 130 miles on a single charge.”
In addition, Blue Bird states that Vision “performs even better in cold weather climates than its predecessor.” Plus, this new school bus model has a seating capacity of 77 passengers, which is an improvement over the previous model’s capacity of 72 passengers.
Quarterly Results: Great News for BLBD Stock
On the financial side of the equation, Blue Bird’s progress is indisputable. After you’ve seen Blue Bird’s results for fiscal 2023’s third quarter, you’ll surely understand why BLBD stock is one of the best EV stocks to buy.
First of all, Blue Bird generated net sales of $294.3 million, up 43% year over year. Blue Bird reported GAAP net income of $9.4 million, up $15.8 million (i.e., the company previously had a net loss but now has positive net income).
If we look at the company’s adjusted diluted EPS, Blue Bird posted earnings of 44 cents per share, versus a loss of 9 cents per share in the year-earlier quarter. This result also represents a Street beat, as analysts expected Blue Bird to report EPS of 26 cents.
Looking ahead, Blue Bird reconfirmed its “long-term outlook of profitable growth towards $2 billion in revenues.” Not only that, but the company expects “[a]djusted EBITDA margins of 12%, or $250 million.” Clearly, Blue Bird’s management is optimistic and that’s definitely a good sign.
BLBD Stock Can Be Your Secret EV Market Pick
So now, you have an EV stock that many financial traders haven’t considered yet. Right now, Blue Bird is setting the standard for fast-charging clean-energy school buses. It’s a company that deserves more attention, and could be a darling of the market someday.
BLBD stock is one of our high-conviction A-rated EV stocks, and it has the potential to make a big move in 2023 and 2024. Therefore, you’re encouraged to check out Blue Bird, as this could be your portfolio’s secret weapon in the EV space.
— Louis Navellier and Investor Place Research Staff
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Source: Investor Place