What's Driving Ford Stock Higher Monday?

Ford Motor Co F shares are trading higher. The company on Monday reported a 10.5% increase in U.S. sales for February.

What Happened: Ford said U.S. sales were up 10.5% last month. The automaker’s overall sales totaled 174,192 units, up from about 157,606 units on a year-over-year basis, per Reuters.

“Hybrid vehicles continue to be a growth segment for Ford and sales have grown at a faster rate than the overall U.S. industry for much of the last year,” the company said.

Hybrid vehicle sales jumped 32% year-over-year to 12,045 units and SUV sales climbed approximately 22% year-over-year to 76,403.

Ford noted that it continues to shift its focus to high-margin hybrid and gas-powered vehicles as demand for electric vehicles continues to be softer than most expected.

The report indicates that Ford has cut prices for its Mach E vehicles in recent months. The Detroit-based automaker also plans to reduce production at its Michigan Rouge Electric Vehicle Center to one shift, beginning April 1.

See Also: Ford Is Spending $2M On Scholarships To Train The Next Generation Of Auto Technicians

Is Ford (F) A Good Stock To Buy?

Wall Street analysts view Ford Motor on the whole as a Neutral, given the history of coverage over the past three months. Dan Levy from Barclays in Ford Motor is the most optimistic, expecting a 7.14% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past three months, Ford Motor rose 18.51%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 1.79% over the past year.

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F Price Action: Ford shares were up 3.13% at $12.84 at the time of writing, according to Benzinga Pro.

Photo: courtesy of Ford.