NEW YORK (TheStreet) -- Shares of Ford Motor Co (F) were lower by 0.39% to $15.30 in early market trading Tuesday, after the automaker announced that it will reduce summer shutdowns at 16 North American factories in order to produce about 40,000 additional vehicles.
Ford plans to meet growing demand for its sport-utility vehicles and the new aluminum-bodied F-150 pickup by cutting the second half of a planned two-week break that starts June 29, Bloomberg reports.
The company is responding to heightened demand for bigger vehicles amid relatively low gasoline prices, Bloomberg noted.
"To meet surging customer demand for our top-selling trucks and utilities, we are continuing to run our North American facilities during the traditional two-week summer shutdown," Ford vice president of North American manufacturing Bruce Hettle said in the statement.
Dearborn, Mich.-based Ford is a manufacturer of automobiles, and is engaged in other businesses, including financing vehicles.
Separately, TheStreet Ratings team rates FORD MOTOR CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate FORD MOTOR CO (F) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. Among the primary strengths of the company is its generally strong cash flow from operations. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: