Wells Fargo & Company Raises Ford Motor (NYSE:F) Price Target to $10.00

Ford Motor (NYSE:F) had its price target upped by research analysts at Wells Fargo & Company from $8.00 to $10.00 in a report released on Friday,Benzinga reports. The firm presently has an “underweight” rating on the auto manufacturer’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 21.01% from the company’s previous close.

F has been the subject of several other research reports. Dbs Bank cut Ford Motor from a “hold” rating to a “moderate sell” rating in a research report on Monday, August 4th. Jefferies Financial Group upped their price target on Ford Motor from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Monday, August 11th. UBS Group lifted their price objective on shares of Ford Motor from $9.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Barclays boosted their target price on shares of Ford Motor from $9.00 to $11.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Finally, Piper Sandler raised their target price on shares of Ford Motor from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Ford Motor has a consensus rating of “Reduce” and a consensus target price of $10.71.

Ford Motor Stock Up 3.6%

Shares of F stock opened at $12.66 on Friday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.10 and a quick ratio of 0.95. Ford Motor has a one year low of $8.44 and a one year high of $12.67. The company’s fifty day moving average price is $11.58 and its 200-day moving average price is $10.82. The company has a market capitalization of $50.39 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 3.64 and a beta of 1.53.

Ford Motor (NYSE:F) last issued its quarterly earnings results on Wednesday, July 30th. The auto manufacturer reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The business had revenue of $50.18 billion during the quarter, compared to analyst estimates of $42.91 billion. Ford Motor had a return on equity of 12.46% and a net margin of 1.70%.Ford Motor’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.47 EPS. Sell-side analysts expect that Ford Motor will post 1.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Ford Motor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Ford Motor by 13.8% in the 1st quarter. Vanguard Group Inc. now owns 457,660,361 shares of the auto manufacturer’s stock worth $4,590,333,000 after purchasing an additional 55,576,478 shares during the period. Pacer Advisors Inc. lifted its position in Ford Motor by 6,915.1% in the first quarter. Pacer Advisors Inc. now owns 49,078,048 shares of the auto manufacturer’s stock worth $492,253,000 after buying an additional 48,378,444 shares during the last quarter. Norges Bank purchased a new position in Ford Motor during the second quarter worth $405,328,000. Marshall Wace LLP increased its position in Ford Motor by 712.7% during the second quarter. Marshall Wace LLP now owns 19,572,437 shares of the auto manufacturer’s stock valued at $212,361,000 after acquiring an additional 17,164,234 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Ford Motor by 17.9% in the second quarter. Geode Capital Management LLC now owns 103,784,031 shares of the auto manufacturer’s stock valued at $1,122,434,000 after acquiring an additional 15,748,694 shares during the period. 58.74% of the stock is currently owned by hedge funds and other institutional investors.

About Ford Motor

Ford Motor Company develops, delivers, and services a range of Ford trucks, commercial cars and vans, sport utility vehicles, and Lincoln luxury vehicles worldwide. It operates through Ford Blue, Ford Model e, and Ford Pro; Ford Next; and Ford Credit segments. The company 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.