PACCAR (NASDAQ:PCAR) Rating Lowered to “Hold” at Jefferies Financial Group

PACCAR (NASDAQ:PCAR) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $120.00 price objective on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 3.56% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Citigroup boosted their price objective on PACCAR from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 20th. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their price objective on PACCAR from $125.00 to $122.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Finally, BNP Paribas upgraded PACCAR to a “hold” rating in a research report on Wednesday, October 16th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $117.83.

PACCAR Stock Performance

Shares of PCAR stock opened at $115.88 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The stock has a market cap of $60.76 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.86 and a beta of 0.91. The stock has a 50-day moving average of $109.50 and a 200-day moving average of $103.69. PACCAR has a one year low of $90.04 and a one year high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. During the same period in the previous year, the firm earned $2.34 EPS. PACCAR’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that PACCAR will post 7.98 earnings per share for the current year.

Insider Activity at PACCAR

In other news, CFO Harrie Schippers sold 20,000 shares of PACCAR stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $106.93, for a total transaction of $2,138,600.00. Following the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This trade represents a 15.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 27,191 shares of PACCAR stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now directly owns 171,776 shares in the company, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,315 shares of company stock valued at $6,358,552 over the last ninety days. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

A number of hedge funds have recently made changes to their positions in PCAR. Synovus Financial Corp raised its position in shares of PACCAR by 16.6% during the third quarter. Synovus Financial Corp now owns 8,899 shares of the company’s stock worth $878,000 after acquiring an additional 1,267 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of PACCAR during the third quarter worth about $269,000. World Investment Advisors LLC bought a new position in shares of PACCAR during the third quarter worth about $419,000. Sanctuary Advisors LLC raised its position in shares of PACCAR by 24.3% during the third quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock worth $2,962,000 after acquiring an additional 5,871 shares during the last quarter. Finally, McIlrath & Eck LLC raised its position in shares of PACCAR by 16.0% during the third quarter. McIlrath & Eck LLC now owns 28,064 shares of the company’s stock worth $2,769,000 after acquiring an additional 3,878 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, 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.