Ford’s shareholders are optimistic as shares exceed $16

Article by Christian A., on November 8, 2010

Ford Motor Co. shares exceeded $16 and completed a 15% gain for the week after it posted a US sales increase -- its first time in six years in New York Stock Exchange trading. Ford increased 35 cents, or 2.2%, to $16.21 at 4 p.m. in New York Stock Exchange composite trading, the highest closing price since June 23, 2004.

Ford claims that October sales are higher by 15% due to the increase in the demand for pickups, sport- utility vehicles and cars. For five consecutive days, Ford shares have gained and this year, it has risen 62%.

Last month, Ford raised its US market share as industrywide sales attained a 12.3 million seasonally adjusted annual pace, the fastest of the year.

In the first 10 months of the year, Ford was able to capture 16.7% of the market, standing for a 15.2% increase compared to a year ago. Ford is set to raise its share in its home market for the second consecutive year for the first time since 1992 and 1993.

Bernie McGinn, president of McGinn Investment Management in Alexandria, Va., which owns 330,000 Ford common shares, expects it to go even higher. He said that the Ford story “just keeps getting better,” adding that the company is on track to becoming investment grade and be “a solid long-term company.”

Bloomberg’s survey indicates that of the 17 analysts covering Ford, 11 recommend buying the shares, 5 advise holding and only 1 recommends selling. [via autonews - sub. required]

Topics: ford, shares

If you liked the article, share on:

Pin It

Comments

Recommended

On July 11, Audi is set to reveal its flagship luxury sedan, the all new A8. And at this moment, none of us are sure how this model will look....
by - March 29, 2017
The recent Porsche 911 is definitely considered one of the most elite sports car to grace the roads worldwide. The task of producing its successor is challenging enough for the...
by - March 29, 2017
British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC...
by - March 29, 2017
It’s quite safe to say that this generation marks the rise of the electric cars. For the past few years, automakers have been very busy trying to find the perfect...
by - March 28, 2017
Want to go for a sportier look, but don’t have enough cash to burn? Good news for future Ford Edge buyers, as the 2018 model year will have an optional...
by - March 28, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries