Investors Buy Shares of PACCAR (PCAR) on Weakness
Traders purchased shares of PACCAR Inc (NASDAQ:PCAR) on weakness during trading hours on Monday. $49.92 million flowed into the stock on the tick-up and $27.10 million flowed out of the stock on the tick-down, for a money net flow of $22.82 million into the stock. Of all stocks tracked, PACCAR had the 31st highest net in-flow for the day. PACCAR traded down ($1.33) for the day and closed at $67.74
A number of analysts have weighed in on the company. Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price target on shares of PACCAR in a research report on Thursday, January 11th. ValuEngine cut PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, December 7th. Buckingham Research upped their price target on PACCAR from $73.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Finally, UBS Group set a $79.00 price objective on PACCAR and gave the stock a “buy” rating in a research note on Thursday, November 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. PACCAR has an average rating of “Hold” and a consensus target price of $76.24.
The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.34 and a current ratio of 2.49. The stock has a market cap of $23,850.28, a P/E ratio of 14.19, a PEG ratio of 1.31 and a beta of 1.21.
In other news, VP Marco A. Davila purchased 570 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of $69.05 per share, with a total value of $39,358.50. Following the completion of the purchase, the vice president now directly owns 7,536 shares of the company’s stock, valued at approximately $520,360.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.64% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. NuWave Investment Management LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $160,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of PACCAR during the fourth quarter valued at $171,000. Hartland & Co. LLC acquired a new position in shares of PACCAR during the third quarter valued at $206,000. Regentatlantic Capital LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $202,000. Finally, Checchi Capital Advisers LLC acquired a new position in shares of PACCAR during the fourth quarter valued at $206,000. 64.25% of the stock is currently owned by institutional investors and hedge funds.
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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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