10 Oversold Value Stocks To Buy Right Now

8. Stellantis N.V. (NYSE:STLA)

Year-to-Date Decline: 44.25%

Forward PE: 3.53

Number of Hedge Fund Holders: 24

Stellantis N.V. (NYSE:STLA) is a leading multinational automotive company. The company has industrial operations in more than 30 countries and customers in more than 130 markets.

Stellantis has successfully made itself a leading global automaker just over three years since its formation. The firm boasts a unique portfolio of 14 iconic automative brands including Abarth, Alfa Romeo, Chrysler, Dodge, FIAT, Maserati, Peugeot, Vauxhall, Free2move, and Leasys, among others. Stellantis is competing well as it was reported to be the top-selling automaker in France, Italy, Brazil, Portugal, Turkey, Algeria, and Argentina year-to-date through September while it was in the top three in Germany, Spain, and the United Kingdom.

While the company is undergoing a transitional period of product upgrades and inventory reduction actions, its Q3 net revenues came out to be lower. Results were impacted as the firm executed its planned US inventory reductions and focused on stabilization of US market share Simultaneously, it faced headwinds from a challenging European market environment with stringent quality requirements delaying the start of certain high-volume products. On the bright side, Stellantis is executing Product Blitz under which it plans no fewer than 20 new product launches in 2024. Three products launched in the third quarter namely Alfa Romeo Junior, Citroën C3, and Citroën Basalt.

While the top-line reflects temporary challenges, Stellantis N.V. (NYSE:STLA) is set to benefit from its iconic and innovative brands reaching all price points across multiple regions as well as the Product Blitz.