BidaskClub Lowers PACCAR (NASDAQ:PCAR) to Hold

BidaskClub cut shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

Other research analysts have also recently issued reports about the stock. OTR Global cut shares of PACCAR from a mixed rating to a negative rating in a research note on Wednesday, October 9th. Buckingham Research lifted their price objective on shares of PACCAR from $70.00 to $80.00 and gave the company a neutral rating in a research note on Wednesday, October 23rd. Wells Fargo & Co lifted their price objective on shares of PACCAR from $72.00 to $75.00 and gave the company a market perform rating in a research note on Wednesday, October 23rd. ValuEngine raised shares of PACCAR from a sell rating to a hold rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PACCAR from $70.00 to $66.00 and set a neutral rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $73.28.

Shares of NASDAQ:PCAR opened at $79.51 on Tuesday. The company’s 50 day simple moving average is $80.57 and its 200 day simple moving average is $72.75. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 2.02 and a beta of 1.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.23. PACCAR has a 1 year low of $56.11 and a 1 year high of $83.41.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $5.97 billion. PACCAR had a net margin of 9.45% and a return on equity of 26.11%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that PACCAR will post 6.84 EPS for the current fiscal year.

The business also recently announced a None dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, December 19th. This is a boost from PACCAR’s previous None dividend of $2.00. PACCAR’s payout ratio is presently 20.51%.

In other news, EVP Gary Lee Moore sold 39,695 shares of PACCAR stock in a transaction on Friday, October 25th. The shares were sold at an average price of $75.81, for a total transaction of $3,009,277.95. Following the transaction, the executive vice president now owns 34,553 shares in the company, valued at $2,619,462.93. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Harrie Schippers sold 7,927 shares of PACCAR stock in a transaction on Friday, November 1st. The stock was sold at an average price of $77.73, for a total transaction of $616,165.71. Following the transaction, the chief financial officer now owns 40,051 shares in the company, valued at approximately $3,113,164.23. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,949 shares of company stock worth $8,207,798. Insiders own 2.32% of the company’s stock.

Several large investors have recently modified their holdings of PCAR. Virtus ETF Advisers LLC bought a new stake in PACCAR in the second quarter valued at $26,000. Quest Capital Management Inc. ADV bought a new stake in PACCAR in the third quarter valued at $34,000. Point72 Asset Management L.P. bought a new stake in PACCAR in the second quarter valued at $41,000. Compagnie Lombard Odier SCmA increased its stake in PACCAR by 35.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Finally, Rational Advisors LLC increased its stake in PACCAR by 37.4% in the third quarter. Rational Advisors LLC now owns 940 shares of the company’s stock valued at $66,000 after purchasing an additional 256 shares in the last quarter. Institutional investors own 63.61% of the company’s stock.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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