PACCAR (NASDAQ:PCAR) Raised to Hold at StockNews.com

PACCAR (NASDAQ:PCAR) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other equities analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. Melius upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. UBS Group downgraded PACCAR from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Morgan Stanley cut PACCAR from an “overweight” rating to an “equal weight” rating and set a $96.00 price target for the company. in a research report on Wednesday, April 16th. Finally, Melius Research set a $120.00 price objective on PACCAR in a report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.23.

PACCAR Trading Up 3.2 %

NASDAQ:PCAR opened at $91.55 on Friday. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $94.67 and its 200 day moving average is $104.30. The stock has a market capitalization of $48.06 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the firm earned $2.27 earnings per share. The business’s quarterly revenue was down 16.0% compared to the same quarter last year. Sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Pierre R. Breber acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael K. Walton sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at approximately $100,929.63. This represents a 86.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently made changes to their positions in PCAR. Wellington Management Group LLP lifted its stake in PACCAR by 25.0% in the fourth quarter. Wellington Management Group LLP now owns 16,798,765 shares of the company’s stock worth $1,747,408,000 after purchasing an additional 3,364,650 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PACCAR by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 12,242,288 shares of the company’s stock valued at $1,275,269,000 after acquiring an additional 362,637 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in PACCAR by 9.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock valued at $1,144,578,000 after acquiring an additional 987,805 shares during the period. FMR LLC grew its position in PACCAR by 1.9% during the 4th quarter. FMR LLC now owns 8,791,660 shares of the company’s stock worth $914,509,000 after acquiring an additional 167,165 shares during the last quarter. Finally, Northern Trust Corp increased its stake in PACCAR by 8.5% in the 4th quarter. Northern Trust Corp now owns 7,202,358 shares of the company’s stock worth $749,189,000 after purchasing an additional 565,967 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.