Backup cameras are a wonderful invention, one of those things that you never really realized you needed until you actually used them. Now we all wonder how we ever lived without them. But for legacy automaker Ford (F), they are proving a bit of a headache, and the target of a recall. Ford shares were down fractionally in the closing minutes of trading on September 20.
The recall effort in question, connected to the backup cameras, relates to roughly 144,500 Maverick pickup trucks, as some backup cameras are displaying static images; not the moving ones most drivers expect. With that in mind, hazards may not be presented as moving, or even show at all, posing a serious potential risk to the driver and those around the driver.
Ford, for its part, noted that the issue was connected to “improper memory handling,” in the vehicle’s Connected Touch Radio, as suggested in a Fox Business report. But this issue has been resolved in production, so newer models should not have this problem. Affected Ford owners need only go to a Ford or Lincoln dealer for the installation of a software update that should fix the problem.
New Features and Old
Further, Ford is also working to improve its operations by bringing in new features, and also getting rid of some old ones. One new feature that may be coming soon is “soiled surface monitoring.” The feature in question is still in the early stages—another interesting Ford patent—but it aims to detect wet or otherwise soiled surfaces in the vehicle, and can even tell if a surface has been cleaned sufficiently.
However, Ford is also getting rid of one feature: its automated parking system. The enhanced active park assist system, considered a godsend for parallel parking, is being phased out as a cost-saving measure. Apparently, not that many people were parallel parking to begin with, so it often went unused.
Is F Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on F stock based on five Buys, nine Holds and one Sell assigned in the past three months, as indicated by the graphic below. After a 4.57% loss in its share price over the past year, the average F price target of $13.67 per share implies a little more than 25% upside potential.
