Ford’s shareholders are optimistic as shares exceed $16

Article by Christian Andrei, 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:

Comments

Login or Create new account to add a comment!

Recommended

Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Amazon is now moving beyond the four corners of online retailing. Only recently, the retail giant has been awarded a patent for its Road Network system. Since the patented technology...
by - January 20, 2017
The newest version of the Lamborghini Huracan is not a Superleggera, but a Performante. When Lamborghini filed for a patent for a new name, there were still debates whether this...
by - January 20, 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