PACCAR (NASDAQ:PCAR) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of PACCAR (NASDAQ:PCAR) from a hold rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.

A number of other equities research analysts also recently weighed in on the stock. Loop Capital downgraded shares of PACCAR from a hold rating to a sell rating and lowered their price objective for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on shares of PACCAR from $63.00 to $64.00 and gave the company an underweight rating in a research report on Wednesday, July 24th. BMO Capital Markets boosted their price objective on shares of PACCAR to $70.00 and gave the company a market perform rating in a research report on Friday, May 17th. BidaskClub downgraded shares of PACCAR from a buy rating to a hold rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of PACCAR from an underweight rating to a neutral rating and decreased their target price for the stock from $87.00 to $66.00 in a research report on Wednesday, July 24th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $68.89.

Shares of NASDAQ:PCAR traded down $0.92 during trading on Thursday, reaching $67.22. 2,206,413 shares of the company’s stock traded hands, compared to its average volume of 1,799,610. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.64 and a quick ratio of 1.40. PACCAR has a 12 month low of $53.43 and a 12 month high of $73.00. The company’s 50 day moving average is $70.78. The stock has a market cap of $23.61 billion, a PE ratio of 10.77, a P/E/G ratio of 1.20 and a beta of 1.25.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 earnings per share for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The business had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company earned $1.59 EPS. PACCAR’s quarterly revenue was up 14.6% on a year-over-year basis. On average, research analysts anticipate that PACCAR will post 6.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Wednesday, August 14th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, August 13th. PACCAR’s dividend payout ratio (DPR) is 20.51%.

In other PACCAR news, VP C Michael Dozier sold 12,638 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $69.17, for a total value of $874,170.46. Following the completion of the transaction, the vice president now owns 8,401 shares in the company, valued at approximately $581,097.17. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP David J. Danforth sold 848 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the completion of the transaction, the vice president now owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,834 shares of company stock valued at $1,309,805. 2.32% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the company. Brandywine Oak Private Wealth LLC boosted its holdings in shares of PACCAR by 1.8% in the first quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock valued at $566,000 after acquiring an additional 148 shares in the last quarter. Securian Asset Management Inc boosted its holdings in shares of PACCAR by 0.5% in the first quarter. Securian Asset Management Inc now owns 35,455 shares of the company’s stock valued at $2,416,000 after acquiring an additional 163 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of PACCAR by 0.4% in the second quarter. Hartford Investment Management Co. now owns 46,237 shares of the company’s stock valued at $3,313,000 after acquiring an additional 168 shares in the last quarter. O Shares Investment Advisers LLC boosted its holdings in shares of PACCAR by 1.5% in the first quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock valued at $883,000 after acquiring an additional 192 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings in shares of PACCAR by 0.4% in the first quarter. Mason Street Advisors LLC now owns 49,464 shares of the company’s stock valued at $3,370,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 63.34% 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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