Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

Ford Motor Company (F) on Friday announced the recall of some 2017 Explorer Sport utility vehicles, after 31 people had reportedly injured their hands on sharp edges down the side of the vehicles’ front seat.

Ford shares closed higher for the fourth time in the past nine trading sessions in New York on Friday. The stock edged up 0.43% ($0.04) to $9.45, after touching an intraday high at $9.59, or a price level not seen since September 9th ($9.65).

Shares of Ford Motor Company have risen 23.53% so far in 2019 compared with a 19.97% gain for the benchmark index, S&P 500 (SPX).

In 2018, Ford Motor Co’s stock went down 38.75%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

Clients could come in contact with the sharp edges when reaching between the power front seat and center console, Ford said in a statement.

311 907 vehicles in the United States and federal territories were affected by the recall, Ford said, along with 23 380 vehicles in Canada and 3 045 vehicles in Mexico.

All recalled vehicles were manufactured at Chicago Assembly Plant between February 2016 and October 2017, the auto maker said.

The company also stated that dealers would install flocked tape to the exposed edge and tab on the inboard side of the power seat frames.

Analyst stock price forecast and recommendation

According to CNN Money, the 15 analysts, offering 12-month forecasts regarding Ford Motor Company’s stock price, have a median target of $10.00, with a high estimate of $13.00 and a low estimate of $8.20. The median estimate represents a 5.82% upside compared to the closing price of $9.45 on September 13th.

The same media also reported that at least 10 out of 18 surveyed investment analysts had rated Ford Motor Company’s stock as “Hold”, while 6 – as “Buy”. On the other hand, 1 analyst had recommended selling the stock.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Telefonica SA fourth-quarter profit beats analysts’ projections, reduces debtTelefonica SA fourth-quarter profit beats analysts’ projections, reduces debt The largest phone company in Spain – Telefonica SA posted a profit for the fourth quarter of 2013, which exceeded analysts estimates. The company is currently trying to reduce its costs in Europe in order to deal with revenue decline. […]
  • Meta AI Model Delayed Again for Developer ReleaseMeta AI Model Delayed Again for Developer Release Key Moments Meta Platforms Inc (NASDAQ: META) has pushed back the developer release of its newest AI model several times and has not set a new launch date, according to the Wall Street Journal. The delay has extended to nearly […]
  • GBP Slips as Investors Monitor UK Political RisksGBP Slips as Investors Monitor UK Political Risks Key Moments GBP trades weaker versus USD and lags most other G10 currencies in subdued market conditions. Political uncertainty tied to possible leadership challenges remains a key risk factor for GBP. Strategists […]
  • Copper falls ahead of FOMC minutes, China data in focusCopper falls ahead of FOMC minutes, China data in focus Copper fell for a third straight day amid speculations FOMCs July meeting minutes may indicate an earlier-than-expected stimulus tapering may begin in September. Market players also eyed upcoming trade and manufacturing data from world top […]
  • Chemours appoints President and Chief Executive OfficerChemours appoints President and Chief Executive Officer The Chemours Company (NYSE: CC) said on Friday that it had appointed Denise Dignam, its current Interim Chief Executive Officer, to the roles of President, CEO and a member of the Board of Directors with immediate effect.Dignam has […]
  • US dollar advanced against the yen after China’s GDP reportUS dollar advanced against the yen after China’s GDP report US dollar gained ground against the Japanese yen on Monday, following the release of Chinese GDP report, which said economy managed to grow in consonance with preliminary estimates during the second quarter of the year, chilling out fears over […]