Here’s a little something noteworthy about legendary automaker Ford (NYSE:F): its sales are up overall, but not all of its sales are on such a rise. That unexpected dichotomy was enough to send Ford stock up significantly in Friday afternoon trading.
Ford reported that it posted 10.7% sales growth as compared to this time last year. All told it reached a combined total of 170,933 units sold, thanks in large part to rising demand in the F-150 and the E-Series vehicles. In fact, Ford’s pickup sales alone surged to 70,566, a 42.7% jump over the same time last year. Even Ford’s new electric vehicles saw new gains. The F-150 Lightning, for example, saw 1,707 units go out the door.
However, the sales revelations were not without trouble. Sales of electric vehicles were down 13%, dropping to 5,444 units sold altogether. Further, Ford had some public relations troubles lately thanks to the Ford Lincoln SUV. Ford had to tell Lincoln owners that it was a good idea to park outdoors. Why? Because the vehicle could catch on fire with the engines off. Ford noted that there was an issue with the monitor sensor on the battery. It could develop a short circuit, and from there, cause the entire engine compartment to catch fire.
Analysts are fairly split on Ford’s immediate future. With six Buy ratings, five Holds, and one Sell, Ford is considered a Moderate Buy by analyst consensus. Further, Ford stock offers 17.86% upside potential thanks to its average price target of $14.62.
