Bank of America Downgrades Ford Motor (NYSE:F) to Buy

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Ford Motor (NYSE:F) was downgraded by stock analysts at Bank of America to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports. They presently have a $13.00 price objective on the auto manufacturer’s stock. Bank of America‘s price target points to a potential upside of 37.81% from the stock’s current price.

A number of other research firms have also commented on F. TheStreet lowered shares of Ford Motor from a “b-” rating to a “c” rating in a research report on Friday, July 26th. Credit Suisse Group assumed coverage on shares of Ford Motor in a research report on Wednesday, June 26th. They set an “outperform” rating and a $13.00 price target on the stock. Goldman Sachs Group set a $13.00 price target on shares of Ford Motor and gave the stock a “buy” rating in a research report on Thursday, June 13th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $10.50 price target on shares of Ford Motor in a research report on Thursday, July 25th. Finally, Morgan Stanley raised shares of Ford Motor from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $12.00 in a research report on Tuesday, August 6th. Four analysts have rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $10.33.

Shares of F traded up $0.01 during trading hours on Tuesday, hitting $9.43. The company had a trading volume of 16,585,996 shares, compared to its average volume of 39,722,777. The firm has a market cap of $38.06 billion, a price-to-earnings ratio of 7.26, a PEG ratio of 1.02 and a beta of 1.14. The business has a fifty day moving average of $9.25 and a 200-day moving average of $9.53. Ford Motor has a 12 month low of $7.41 and a 12 month high of $10.56. The company has a quick ratio of 1.08, a current ratio of 1.20 and a debt-to-equity ratio of 2.86.

Ford Motor (NYSE:F) last issued its quarterly earnings data on Wednesday, July 24th. The auto manufacturer reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. The company had revenue of $35.91 billion for the quarter, compared to analyst estimates of $35.21 billion. Ford Motor had a net margin of 1.37% and a return on equity of 14.92%. The company’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities analysts expect that Ford Motor will post 1.29 EPS for the current fiscal year.

In related news, insider James D. Farley, Jr. sold 45,000 shares of Ford Motor stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.56, for a total transaction of $430,200.00. Following the sale, the insider now directly owns 541,753 shares in the company, valued at approximately $5,179,158.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman William Clay Ford, Jr. bought 840,962 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were acquired at an average price of $9.51 per share, for a total transaction of $7,997,548.62. Following the completion of the transaction, the chairman now owns 1,100,617 shares in the company, valued at $10,466,867.67. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 115,000 shares of company stock worth $1,128,650. 0.83% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of F. Nuveen Asset Management LLC lifted its position in shares of Ford Motor by 6,936.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 25,628,550 shares of the auto manufacturer’s stock worth $262,181,000 after purchasing an additional 25,264,307 shares during the period. Prudential Financial Inc. lifted its position in shares of Ford Motor by 234.5% in the 2nd quarter. Prudential Financial Inc. now owns 19,187,024 shares of the auto manufacturer’s stock worth $196,283,000 after purchasing an additional 13,450,400 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Ford Motor in the 2nd quarter worth approximately $99,934,000. Pictet Asset Management Ltd. lifted its position in shares of Ford Motor by 151.3% in the 2nd quarter. Pictet Asset Management Ltd. now owns 1,741,015 shares of the auto manufacturer’s stock worth $17,811,000 after purchasing an additional 5,137,800 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Ford Motor by 19.7% in the 2nd quarter. Invesco Ltd. now owns 30,504,964 shares of the auto manufacturer’s stock worth $312,066,000 after purchasing an additional 5,021,901 shares during the period. Institutional investors and hedge funds own 53.86% of the company’s stock.

About Ford Motor

Ford Motor Company designs, manufactures, markets, and services a range of Ford cars, trucks, sport utility vehicles, and electrified vehicles worldwide. It operates through three segments: Automotive, Mobility, and Ford Credit. The Automotive segment sells Ford and Lincoln vehicles, service parts, and accessories through distributors and dealers, as well as through dealerships to commercial fleet customers, daily rental car companies, and governments.

Further Reading: Recession

The Fly

Analyst Recommendations for Ford Motor (NYSE:F)

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