Buckingham Research Downgrades Ford Motor Co. (F) to Neutral
Ford Motor Co. (NYSE:F) was downgraded by Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued on Tuesday. They currently have a $12.00 price objective on the auto manufacturer’s stock, down from their prior price objective of $16.00. Buckingham Research’s target price suggests a potential downside of 0.74% from the company’s previous close.
Several other analysts have also issued reports on F. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Ford Motor in a research report on Wednesday, June 1st. TheStreet raised shares of Ford Motor to a “buy” rating in a research report on Thursday, May 26th. Jefferies Group reissued a “sell” rating on shares of Ford Motor in a research report on Sunday, September 4th. Nomura began coverage on shares of Ford Motor in a research report on Tuesday. They issued a “buy” rating and a $14.00 price objective on the stock. Finally, Barclays PLC reissued an “equal weight” rating and issued a $13.00 price objective (down from $14.00) on shares of Ford Motor in a research report on Tuesday, July 19th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Ford Motor presently has a consensus rating of “Hold” and a consensus price target of $14.07.
Shares of Ford Motor (NYSE:F) opened at 12.09 on Tuesday. The stock’s 50 day moving average is $12.35 and its 200 day moving average is $13.00. The firm has a market capitalization of $48.04 billion, a price-to-earnings ratio of 5.70 and a beta of 1.30. Ford Motor has a 12 month low of $11.02 and a 12 month high of $15.84.
Ford Motor (NYSE:F) last announced its earnings results on Thursday, July 28th. The auto manufacturer reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.60 by $0.08. Ford Motor had a return on equity of 30.49% and a net margin of 5.35%. The business had revenue of $39.50 million for the quarter, compared to analyst estimates of $36.29 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts forecast that Ford Motor will post $1.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, July 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, July 26th. This represents a $0.60 annualized dividend and a yield of 4.96%. Ford Motor’s payout ratio is 29.27%.
In other news, Director John C. Lechleiter purchased 5,000 shares of the stock in a transaction on Monday, August 8th. The stock was purchased at an average price of $12.26 per share, for a total transaction of $61,300.00. Following the acquisition, the director now owns 25,000 shares in the company, valued at $306,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in F. 1832 Asset Management L.P. raised its stake in Ford Motor by 21.5% in the second quarter. 1832 Asset Management L.P. now owns 7,900 shares of the auto manufacturer’s stock valued at $100,000 after buying an additional 1,400 shares in the last quarter. Acrospire Investment Management LLC bought a new stake in Ford Motor during the first quarter valued at $104,000. Balentine LLC bought a new stake in Ford Motor during the second quarter valued at $109,000. Bellwether Investment Group LLC bought a new stake in Ford Motor during the second quarter valued at $109,000. Finally, Hudock Capital Group LLC raised its stake in Ford Motor by 14.9% in the second quarter. Hudock Capital Group LLC now owns 9,250 shares of the auto manufacturer’s stock valued at $116,000 after buying an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 56.06% of the company’s stock.
About Ford Motor
Ford Motor Company (Ford) is a global automotive and mobility company. The Company’s principal business includes designing, manufacturing, marketing, financing, and servicing a line of Ford cars, trucks, sports utility vehicles (SUVs), and electrified vehicles, as well as Lincoln luxury vehicles. The Company operates in two sectors: Automotive and Financial Services.
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