Analyst Recommendations for Ford Stock as New CEO Takes Control
About 33.0% of analysts covering Ford Motor (F) have given the stock a “buy” recommendation, and about 59.0% have recommended a “hold.”
Ford Motor’s (F) new CEO Jim Hackett is joining the company at a time when US auto sales have been declining for several months.
Unlike GM’s move to cut fleet sales, Ford’s management seemingly continued to give equal importance to its retail and fleet sales.
On Monday, May 22, 2017, Ford Motor (F) announced that it has named Jim Hackett its new CEO (chief executive officer), effective immediately.
Tesla’s 14-day relative strength index is at $51.67, indicating a neutral bias in momentum.
Last week, Ford stock tested a key support near $10.65 and bounced back from this level on Friday to settle at $10.87.
In the week ended May 19, 2017, Fiat Chrysler stock traded on a negative note and ended the week at $10.50 with a ~3.4% weekly loss.
On May 18, GM revealed that it will stop selling its Chevrolet brand vehicles in Indian and South African markets by the end of this year.
In this series, we’ll review auto stocks’ Wall Street performance in the third week of May 2017. We’ll also explore the major developments that have taken place in the auto industry in the last few weeks.
Since the beginning of Donald Trump’s presidential campaign, Ford Motor Company (F) has been repeatedly targeted for hurting US jobs.
Despite being a much younger company than legacy automakers such as General Motors (GM), Ford, and Fiat Chrysler (FCAU), Tesla has gotten a great deal of fanfare in recent years.
US auto sales have been falling for the last four months, which has fueled investors’ concerns about future auto sales.
April was the first month in 2017 that Honda reported lower US truck sales on a YoY basis. Weaker truck sales could hurt its second quarter profitability.
In April 2017, Volkswagen’s US sales rose YoY (year-over-year) for the sixth consecutive month after posting lower sales in the preceding 12 months.
In April 2017, Toyota (TM), the largest Japanese automaker, reported a YoY (year-over-year) decline of 4.4% in its US sales to 201,926 vehicle units.
In April 2017, Fiat Chrysler’s Jeep brand sales continued to fall, while its Ram brand sales remained firm for the third consecutive month.
In April 2017, Fiat Chrysler’s total US sales continued to fall ~7% to 177,441 vehicle units. The company sold ~190,071 units in the same month last year.
According to data compiled by Autodata, total US auto sales (XLY) stood at 5.45 million vehicle units YTD as of April 2017—about 2.4% lower than last year.
In the second week of May, Tesla stock (TSLA) witnessed sharp recovery after falling 1.8% in the previous week. On Friday, the stock closed at $324.81.
In the week ending May 12, 2017, Fiat Chrysler Automobiles (FCAU) stock traded on a negative note and ended the week at $10.87 with a loss of ~4.4%.