PACCAR Inc. (PCAR) Downgraded to “Hold” at ValuEngine
ValuEngine cut shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research report report published on Tuesday.
Several other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of PACCAR from a sell rating to a strong sell rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $74.00 price objective for the company in a research note on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a neutral rating to a buy rating and set a $79.00 price objective for the company in a research note on Thursday, June 15th. Buckingham Research initiated coverage on shares of PACCAR in a research note on Tuesday, September 5th. They issued a neutral rating and a $65.00 price objective for the company. Finally, Citigroup Inc. upped their price objective on shares of PACCAR from $74.00 to $78.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $74.58.
PACCAR (PCAR) opened at 73.42 on Tuesday. PACCAR has a 52 week low of $53.38 and a 52 week high of $74.79. The company has a 50-day moving average price of $69.30 and a 200-day moving average price of $66.65. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 19.65 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the firm posted $1.06 earnings per share. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that PACCAR will post $4.02 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: “PACCAR Inc. (PCAR) Downgraded to “Hold” at ValuEngine” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright law. The correct version of this report can be read at https://www.thecerbatgem.com/2017/10/11/paccar-inc-pcar-downgraded-to-hold-at-valuengine.html.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.36%. PACCAR’s dividend payout ratio is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.64% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. raised its holdings in PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after purchasing an additional 2,038,761 shares in the last quarter. Brighton Jones LLC purchased a new position in PACCAR during the second quarter worth about $3,338,000. Delta Lloyd Asset Management N.V. purchased a new position in PACCAR during the second quarter worth about $3,038,000. Point72 Europe London LLP purchased a new position in PACCAR during the first quarter worth about $1,137,000. Finally, Perkins Coie Trust Co raised its holdings in PACCAR by 102.8% during the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares in the last quarter. 62.13% of the stock is owned by hedge funds and other institutional investors.
PACCAR Company Profile
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.
Receive News & Stock Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related stocks with our FREE daily email newsletter.