Legacy automaker Ford (F) made a big move in Kentucky, a move which will not only secure its place as one of Louisville’s largest employers, but also one of Kentucky’s largest manufacturers. It just bought a big new piece of land down in Louisville, likely to build on it. Shareholders were mildly impressed, and gave shares a fractional boost in Monday afternoon’s trading.
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Ford recently purchased a 65.2 acre parcel of land at 3306 Collins Lane, which is right next to the Kentucky Truck Plant at 3245 Chamberlain Lane, the reports noted. Ford dropped $41.28 million for that parcel. This represented a huge win for the original landholder, Nine Five LLC, which bought that land back in 2018 for a comparatively meager $575,000.
It was not specifically announced that the land would be part of the Kentucky Truck Plant, or an addition to it. But considering everything that Ford makes at that plant—including Ford Super Duty Trucks and both gas and hybrid models of the Lincoln Navigator and the Ford Expedition—an expansion probably was reasonable enough.
One Serious Custom Job
Meanwhile, Auriga—a German startup company specializing in recreational vehicles (RVs)—is taking customization to an impressive new level with the Auriga Explorer. Taking a Ford Ranger pickup as the basis for a pre-production prototype, the end result was a camper with some really impressive pedigree.
Frank Haltermann, who serves as design engineer and managing director, noted, “We don’t just build vehicles, we create the basis for unforgettable adventures on and off the beaten track. With Auriga Explorer, we combine the best of two worlds: the freedom of a compact four-wheel drive pickup truck and the comfort of a luxurious expedition vehicle.” The end result is a camper with multiple pneumatic slide-outs and an impressive amount of room, all contained in a package that should be too small, but is not.
Is Ford Stock a Good Buy Right Now?
Turning to Wall Street, analysts have a Hold consensus rating on F stock based on three Buys, eight Holds and two Sells assigned in the past three months, as indicated by the graphic below. After a 20.78% rally in its share price over the past year, the average F price target of $10.99 per share implies 11.08% downside risk.
