PACCAR Inc. (PCAR) Stock Rating Lowered by BidaskClub
PACCAR Inc. (NASDAQ:PCAR) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Sunday.
Several other equities research analysts have also recently issued reports on PCAR. UBS AG upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and raised their target price for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 target price on shares of PACCAR and gave the stock a “buy” rating in a report on Sunday, May 28th. Barclays PLC set a $56.00 target price on shares of PACCAR and gave the stock a “sell” rating in a report on Wednesday, April 26th. Stifel Nicolaus restated a “buy” rating and issued a $72.00 target price (up previously from $64.00) on shares of PACCAR in a report on Wednesday, July 26th. Finally, Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.00.
Shares of PACCAR (NASDAQ PCAR) opened at 63.00 on Friday. The company has a 50 day moving average of $67.30 and a 200-day moving average of $66.42. The company has a market cap of $22.14 billion, a PE ratio of 16.86 and a beta of 1.14. PACCAR has a 12-month low of $53.38 and a 12-month high of $70.32.
PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter last year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities research analysts anticipate that PACCAR will post $4.00 earnings per share for the current year.
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In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the sale, the insider now directly owns 20,800 shares in the company, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its stake in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares in the last quarter. IFP Advisors Inc boosted its position in shares of PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. Institutional investors own 62.33% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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