5 Best Automotive Stocks To Invest In Now

3. Ford Motor Company (NYSE:F)

Number of Hedge Fund Holders: 53

Ford Motor Company (NYSE:F) is experiencing bullish trading volumes and is becoming a top automotive stock pick among investor circles. At the close of Q4 2021, 53 hedge funds were long Ford Motor Company (NYSE:F). These funds held collective stakes worth $1.70 billion, up from $1.64 billion in the third quarter of 2021 when 51 hedge funds held stakes in the legendary automobile manufacturer. The hedge fund sentiment for the stock is positive. Moreover, as of May 10, the stock’s trailing-twelve-month returns have surged 15.28%, making it a high momentum automotive stock to invest in now.

On April 27, Ford Motor Company (NYSE:F) released its earnings for the fiscal first quarter of 2022 in which it beat both EPS and revenue estimates. The company registered an EPS of $0.38 and beat estimates by $0.01. The company’s quarterly revenues amounted to $32.11 billion and outperformed market consensus by $457.31 million. Moreover, the company reported April sales volume with truck sales of roughly 79,000 units and SUV sales of about 92,000 units. Ford Motor Company’s (NYSE:F) sales for April outperformed the industry by 13.8%.

This May, Benchmark analyst Michael Ward trimmed his price target on Ford Motor Company (NYSE:F) to $25 from $29 but maintained a Buy rating on the shares in light of the company’s Q1 2022 earnings. The analyst remains conservative on the stock to reflect lower than expected earnings and supply-chain constraints but sees potential upside driven by improved balance sheets and positive demand trends.

As of the end of Q1 2022, Aequim Alternative Investments is the leading shareholder in Ford Motor Company (NYSE:F) owning more than 1.1 million shares of the stock. The fund’s stakes came in at roughly $20 million, representing 0.52% of its 13F portfolio.