So what is the “Truckle,” and why is this maybe the best thing that has been connected to legacy automaker Ford (F) in months, if not years? Well, someone apparently realized that key fobs get lost or even stolen fairly easily, and so, managed to find a way to incorporate them into a belt buckle. The result is called “The Truckle,” and it is apparently taking off. Ford shares were up fractionally in Monday afternoon’s trading.
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The Truckle was designed by a firm in Utah called A Cut Above Buckles, and comes with a hand-engraved drawing of a Ford F-150 on the front. Which looks pretty much like a big belt buckle should look; celebrating one’s truck in belt buckle form is perfectly reasonable, in some circles. But here is where things get interesting. The Truckle has a panel that opens up and holds your F-150 key fob.
The Truckle runs $200 per buckle, at last report, and got its debut at the Texas State Fair recently, which was about perfect for such an introduction. Sadly, the buckle itself does not function as a key fob, which is a huge disappointment for everyone who was hoping to unlock their truck with a well-timed pelvic thrust or hip check. But it does carry around your key fob without requiring you hold it in one of your pants pockets.
The Ford+ Strategy at Risk?
Ford has recently undergone quite a few changes at the management level. New senior leadership positions worldwide are coming together, and this is leaving some to ask: but what about Ford+? Ford+ has been a transformation plan that has been running since May 2021, reports note, and these leadership changes are not designed to supplant or replace it, but rather, to augment it and help it carry forward.
CEO Jim Farley noted, “These global leadership appointments underscore our relentless commitment to building a truly world-class team across Ford, united by a singular focus: delivering product excellence and quality for our customers globally.” While some parts of the plan have been altered a bit, like electrification plans, the overall plan seems to be largely in place, like the reorganization that brought Ford Blue, Ford Model e, and Ford Pro into play.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on two Buys, nine Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 4.49% rally in its share price over the past year, the average F price target of $11.33 per share implies 1.82% downside risk.
