Ford Motor (F) has revised its Diversity, Equity, and Inclusion (DEI) initiatives in response to growing pressure from conservative activists, particularly, Robby Starbuck. These initiatives aim to reduce workplace disparities. Following the announcement, F stock gained about 5% in the extended trading session yesterday.
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Among the key changes, the carmaker has opened its employee resource groups to all workers, regardless of their background. Additionally, Ford will no longer participate in the Human Rights Campaign’s Corporate Equality Index, a widely recognized LGBTQ+ workplace equality ranking.
DEI Rollbacks Surge Amid Conservative Pressure
Ford’s decision aligns with a broader trend of companies reconsidering their DEI programs owing to conservative backlash and legal challenges. Recently, companies like Lowe’s (LOW), Home Depot (HD), Harley-Davidson (HOG), Tractor Supply (TSCO), and John Deere (DE) have made similar moves.
Activists like Starbuck are using social media to pressure firms to change their DEI policies. Their campaigns often focus on issues like affirmative action, race, gender, and family values.
The increasing pressure on corporations to pull back on DEI initiatives could have significant implications for their reputation, brand image, and ability to attract top talent.
Is Ford Stock a Good Buy Now?
On TipRanks, Ford has a Moderate Buy consensus rating based on five Buy, seven Hold, and one Sell ratings. The analysts’ average price target on Ford stock of $14 implies an upside potential of 26.81%. Shares of the company have declined 8.8% in the past six months.
