Ford stock has certainly experienced its fair share of ups and downs over the past few years, which is to be expected given the impacts of the pandemic on the company’s business, coupled with macroeconomic events, soaring inflation, record-setting new and used vehicle pricing, and a tough labor market. Regardless, after pivoting away from EVs somewhat and focusing on offering an array of powertrain options, Ford stock has begun to show some promising results – and investors are taking notice, too.
According to Yahoo Finance, Ford stock recently landed on the most searched list at Zacks Equity Research, which is notable for a number of reasons. Over the past month, Ford stock has enjoyed a strong return of 5.7 percent versus the Zacks S&P 500 composite’s 4.1 jump, while the Zacks Automotive – Domestic industry that Ford is also a part of has enjoyed a 32.7 percent increase as well. This information recently led the firm to take a closer look at how Ford stock may perform in the short term, and that outlook is particularly rosy, too.
In Q2, Ford stock is expected to post earnings of $0.62 per share, indicating a change of -13.9 percent versus last year, but its consensus earnings estimate of $2.02 for the next fiscal year is two percent higher than previously expected. After conducting an analysis, Zacks has assigned a “buy” rating to Ford stock as a result, noting that the automaker has surpassed its consensus EPS estimates three times over the past four quarters. Thus, the investment firm expects FoMoCo to outperform the broader market in the short term, which helps explain why more investors are looking at it as of late.
In addition to regular investors, at least one notable individual has purchased large amounts of stock in recent months, too. That person is board member John L. Thornton, who recently purchased 24,790 shares of Ford stock following years of inactivity, and in fact, he was the first Ford insider to buy stock on the open market this year. The last time this happened was December 2023, when the automaker’s chief electric vehicle, digital, and design officer, Doug Field, paid just over $2 million for 182,000 shares at an average price of $11.05 each.
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Comments
Always a good sign when insiders buy their company’s stock.
One thing is certain, analysts will go over Ford’s quarterly earnings and outlook with a fine tooth comb while these same analysts will shrug off Tesla’s ‘earnings’ and raise their guidance based on hype and fantasy ‘promises’ about robots and self driving taxis.