PACCAR (NASDAQ:PCAR – Get Rating) was downgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “underperform” rating in a research report issued to clients and investors on Tuesday, MarketBeat.com reports.
A number of other equities analysts have also issued reports on PCAR. Raymond James increased their price objective on PACCAR from $70.00 to $80.00 and gave the stock a “strong-buy” rating in a report on Thursday, December 15th. Credit Suisse Group raised their price target on PACCAR from $69.33 to $71.33 and gave the company an “outperform” rating in a report on Wednesday, October 26th. StockNews.com downgraded shares of PACCAR from a “strong-buy” rating to a “buy” rating in a report on Wednesday, November 23rd. Exane BNP Paribas raised shares of PACCAR from an “underperform” rating to a “neutral” rating in a research note on Tuesday, November 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of PACCAR from $63.33 to $64.67 in a research note on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.48.
PACCAR Stock Performance
Shares of NASDAQ PCAR traded up $1.28 during mid-day trading on Tuesday, hitting $102.67. The company had a trading volume of 65,278 shares, compared to its average volume of 1,846,278. PACCAR has a 12 month low of $77.00 and a 12 month high of $107.18. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.21 and a beta of 0.91. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.66 and a quick ratio of 2.38. The firm’s 50 day simple moving average is $68.55 and its two-hundred day simple moving average is $62.27.
PACCAR (NASDAQ:PCAR – Get Rating) last announced its quarterly earnings results on Tuesday, October 25th. The company reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.13. PACCAR had a net margin of 9.50% and a return on equity of 21.24%. The company had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.65 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, equities research analysts forecast that PACCAR will post 8.16 earnings per share for the current year.
Insider Buying and Selling at PACCAR
In other news, CFO Harrie Schippers sold 43,578 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $63.76, for a total value of $2,778,533.28. Following the transaction, the chief financial officer now owns 79,869 shares in the company, valued at approximately $5,092,447.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Harrie Schippers sold 43,578 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $63.76, for a total value of $2,778,533.28. Following the transaction, the chief financial officer now directly owns 79,869 shares of the company’s stock, valued at $5,092,447.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO R Preston Feight sold 20,850 shares of PACCAR stock in a transaction on Friday, October 28th. The shares were sold at an average price of $63.85, for a total value of $1,331,203.00. Following the sale, the chief executive officer now directly owns 93,565 shares of the company’s stock, valued at approximately $5,973,813.37. The disclosure for this sale can be found here. Insiders have sold a total of 65,164 shares of company stock valued at $4,156,350 in the last three months. 2.05% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On PACCAR
A number of hedge funds have recently added to or reduced their stakes in the company. Prudential PLC acquired a new position in shares of PACCAR during the 1st quarter worth $763,000. Vanguard Group Inc. increased its position in PACCAR by 2.0% during the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock worth $3,213,241,000 after buying an additional 698,784 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in PACCAR by 66.0% during the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after buying an additional 27,300 shares in the last quarter. Covestor Ltd lifted its position in shares of PACCAR by 73.6% in the first quarter. Covestor Ltd now owns 2,118 shares of the company’s stock worth $187,000 after buying an additional 898 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of PACCAR by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock worth $9,399,000 after acquiring an additional 792 shares in the last quarter. Institutional investors and hedge funds own 63.92% of the company’s stock.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.
- Get a free copy of the StockNews.com research report on PACCAR (PCAR)
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