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Vetr Issues Hold On Ford Following A Bump From September Sales Figures

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The Vetr crowd on Monday upgraded its rating of Ford Motor Company (NYSE: F) from 4 stars (Buy), issued two days ago, to 3 stars (Hold). Crowd sentiment at the time of the downgrade was edging positive, with 56 percent of Vetr user ratings bullish.

Ford shares received a boost earlier in the month on the back of strong auto sales numbers over the course of September. The figures, which were released Oct. 4, showed seasonally adjusted annualized rate of U.S. light vehicle sales exceeded analyst expectations by 1.2 million at 18.6 million total across the industry. For its part, Ford's fleet sales rose by 25 percent over the month.

However, some analysts have cautioned that these high numbers might be due to the extreme weather the U.S. experienced over the course of the month and likely don't point to any broader trends as consumers sought to replace vehicles damaged by hurricanes and flooding.

This didn't dampen the outlook for analysts with Standpoint Research who, when the numbers were released, upgraded the rating on Ford from Hold to Buy. The stock ended the Oct. 9 trading day up slightly at $12.34.

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The Vetr crowd's average price target on Ford is up at $12.60, which still trails the average analyst price target of $13.76. Ford Motor Company is a popular stock on Vetr as more than 2 percent of users are holding F in their watch-lists.

Latest Ratings for F

DateFirmActionFromTo
Feb 2021Argus ResearchUpgradesHoldBuy
Feb 2021Deutsche BankMaintainsHold
Feb 2021BenchmarkMaintainsBuy

View More Analyst Ratings for F
View the Latest Analyst Ratings

 

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Posted-In: VetrDowngrades Price Target Crowdsourcing Analyst Ratings General

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