PACCAR (NASDAQ:PCAR) Cut to Buy at StockNews.com

PACCAR (NASDAQ:PCARGet Rating) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of PACCAR to $96.00 in a research report on Thursday, October 27th. Wolfe Research cut shares of PACCAR from an “outperform” rating to a “peer perform” rating in a research report on Thursday, November 17th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PACCAR from $95.00 to $97.00 in a research report on Wednesday, October 26th. Vertical Research cut shares of PACCAR from a “buy” rating to a “hold” rating and increased their price target for the company from $100.00 to $102.00 in a research report on Wednesday, August 17th. Finally, Raymond James increased their price target on shares of PACCAR from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus target price of $96.36.

PACCAR Price Performance

Shares of PACCAR stock opened at $106.02 on Wednesday. PACCAR has a 52-week low of $77.00 and a 52-week high of $106.25. The stock has a market capitalization of $36.87 billion, a price-to-earnings ratio of 14.19, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90. The company has a fifty day moving average of $92.49 and a 200-day moving average of $88.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.66.

PACCAR (NASDAQ:PCARGet Rating) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.21. 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 analysts’ expectations of $6.65 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm’s revenue was up 41.1% on a year-over-year basis. Equities research analysts expect that PACCAR will post 8.15 EPS for the current year.

Insider Buying and Selling

In related news, VP Todd R. Hubbard sold 491 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $95.00, for a total value of $46,645.00. Following the completion of the transaction, the vice president now directly owns 1,628 shares in the company, valued at approximately $154,660. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Harrie Schippers sold 29,052 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $95.64, for a total value of $2,778,533.28. Following the completion of the transaction, the chief financial officer now directly owns 53,246 shares in the company, valued at approximately $5,092,447.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 491 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $95.00, for a total transaction of $46,645.00. Following the completion of the transaction, the vice president now owns 1,628 shares of the company’s stock, valued at $154,660. The disclosure for this sale can be found here. Insiders sold a total of 43,443 shares of company stock worth $4,156,381 in the last three months. 2.05% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Several institutional investors have recently bought and sold shares of PCAR. Trust Co. of Vermont purchased a new stake in PACCAR during the 2nd quarter valued at about $28,000. James Investment Research Inc. purchased a new stake in PACCAR during the 3rd quarter valued at about $28,000. Tobam purchased a new stake in PACCAR during the 3rd quarter valued at about $32,000. Achmea Investment Management B.V. purchased a new stake in PACCAR during the 1st quarter valued at about $33,000. Finally, Sound Income Strategies LLC purchased a new stake in PACCAR during the 3rd quarter valued at about $36,000. 64.17% of the stock is owned by hedge funds and other institutional investors.

PACCAR Company Profile

(Get Rating)

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.

See Also

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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