PACCAR (NASDAQ:PCAR) Downgraded by ValuEngine

PACCAR (NASDAQ:PCAR) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday, ValuEngine reports.

Several other equities analysts have also commented on PCAR. JPMorgan Chase & Co. upgraded PACCAR from an “underweight” rating to a “neutral” rating and reduced their price objective for the company from $87.00 to $66.00 in a research report on Wednesday, July 24th. Loop Capital lowered PACCAR from a “hold” rating to a “sell” rating and reduced their price objective for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Morgan Stanley increased their price objective on PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. BidaskClub lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Evercore ISI restated an “in-line” rating and set a $76.00 price target (up from $73.00) on shares of PACCAR in a research report on Friday, May 31st. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $68.89.

Shares of PACCAR stock traded down $0.92 during trading on Thursday, hitting $67.22. 2,206,413 shares of the stock traded hands, compared to its average volume of 1,711,283. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.40 and a current ratio of 1.64. The company has a market capitalization of $24.30 billion, a PE ratio of 10.77, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. The business has a fifty day simple moving average of $70.78. PACCAR has a 52 week low of $53.43 and a 52 week high of $73.00.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.04). The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. PACCAR had a net margin of 9.43% and a return on equity of 25.99%. PACCAR’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. As a group, sell-side analysts expect that PACCAR will post 6.77 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brandywine Oak Private Wealth LLC lifted its holdings in PACCAR by 1.8% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock worth $566,000 after buying an additional 148 shares during the period. Securian Asset Management Inc lifted its holdings in PACCAR by 0.5% in the 1st quarter. Securian Asset Management Inc now owns 35,455 shares of the company’s stock worth $2,416,000 after buying an additional 163 shares during the period. Hartford Investment Management Co. lifted its holdings in PACCAR by 0.4% in the 2nd quarter. Hartford Investment Management Co. now owns 46,237 shares of the company’s stock worth $3,313,000 after buying an additional 168 shares during the period. O Shares Investment Advisers LLC lifted its holdings in PACCAR by 1.5% in the 1st quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock worth $883,000 after buying an additional 192 shares during the period. Finally, Mason Street Advisors LLC lifted its holdings in PACCAR by 0.4% in the 1st quarter. Mason Street Advisors LLC now owns 49,464 shares of the company’s stock worth $3,370,000 after buying an additional 199 shares during the period. Institutional investors and hedge funds own 63.34% of the company’s stock.

About PACCAR

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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