Ford Motor Co (F) has become the second Detroit-based auto maker to require of its US salaried employees to provide information about their vaccination status against COVID-19 in an attempt to comply with broader federal guidelines.
Ford’s salaried employees are now required to submit their vaccination status against COVID-19 by October 8th. However, this is voluntary for the company’s hourly employees who are represented by the United Auto Workers (UAW) union.
Ford’s leadership team has already been vaccinated against COVID-19, the company’s Chief Executive Officer Jim Farley said in an interview with CNBC, while the US auto maker is conducting a survey to know how many employees have been inoculated.
“When it comes to the larger population of Ford, we want people to get vaccinated,” the company’s CEO said during the interview.
Farley also added that the auto maker would work with the United Auto Workers union, which had so far not supported the initiative to make vaccinations mandatory.
The UAW represented nearly 58,000 Ford hourly employees in the United States.
Ford shares closed lower for the third time in the past ten trading sessions in New York on Wednesday. The stock went down 0.07% ($0.01) to $14.30, after touching an intraday low at $14.17. The latter has been a price level not seen since September 27th ($13.88).
Shares of Ford Motor Company have risen 62.68% so far in 2021 compared with a 16.06% gain for the benchmark index, S&P 500 (SPX).
In 2020, Ford Motor Co’s stock went down 5.48%, thus, it underperformed the S&P 500, which registered a 16.26% gain.
Analyst stock price forecast and recommendation
According to TipRanks, at least 5 out of 9 surveyed investment analysts had rated Ford Motor Company’s stock as “Buy”, while 3 – as “Hold”. The median price target on the stock stands at $15.59.