BidaskClub Downgrades PACCAR (NASDAQ:PCAR) to Buy

BidaskClub cut shares of PACCAR (NASDAQ:PCAR) from a strong-buy rating to a buy rating in a report issued on Thursday, BidAskClub reports.

A number of other equities research analysts have also recently weighed in on PCAR. Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $75.00 price objective on the stock in a report on Tuesday, March 12th. Longbow Research cut shares of PACCAR from a buy rating to a neutral rating and set a $71.38 price objective on the stock. in a report on Monday, May 6th. BMO Capital Markets upped their price objective on shares of PACCAR to $70.00 and gave the stock a market perform rating in a report on Friday, May 17th. Evercore ISI restated an in-line rating and issued a $76.00 price objective (up previously from $73.00) on shares of PACCAR in a report on Friday, May 31st. Finally, Loop Capital cut shares of PACCAR from a hold rating to a sell rating and cut their price objective for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $66.31.

Shares of NASDAQ PCAR opened at $70.61 on Thursday. PACCAR has a 1 year low of $53.43 and a 1 year high of $73.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32. The company’s 50-day moving average is $69.63. The stock has a market capitalization of $24.46 billion, a PE ratio of 10.70, a P/E/G ratio of 1.25 and a beta of 1.25.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.16. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the company earned $1.45 earnings per share. PACCAR’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that PACCAR will post 6.73 EPS for the current year.

In other news, insider Darrin C. Siver sold 5,067 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the sale, the insider now owns 23,193 shares in the company, valued at $1,625,829.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP David J. Danforth sold 4,315 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the sale, the vice president now owns 7,286 shares in the company, valued at approximately $515,047.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,301 shares of company stock worth $1,554,065. Corporate insiders own 2.32% of the company’s stock.

Several large investors have recently bought and sold shares of PCAR. Norges Bank purchased a new stake in shares of PACCAR during the fourth quarter valued at approximately $333,867,000. Great Lakes Advisors LLC purchased a new stake in shares of PACCAR during the first quarter valued at approximately $46,854,000. AJO LP grew its holdings in shares of PACCAR by 622.0% during the first quarter. AJO LP now owns 718,613 shares of the company’s stock valued at $48,966,000 after buying an additional 619,081 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PACCAR by 2.2% during the first quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock valued at $1,761,547,000 after buying an additional 554,802 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of PACCAR by 139.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 943,149 shares of the company’s stock valued at $53,893,000 after buying an additional 548,660 shares during the last quarter. Hedge funds and other institutional investors own 63.30% 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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