OTR Global lowered shares of PACCAR (NASDAQ:PCAR) from a mixed rating to a negative rating in a research report released on Wednesday morning, BenzingaRatingsTable reports.
A number of other equities research analysts have also recently issued reports on the stock. Loop Capital cut shares of PACCAR from a hold rating to a sell rating and reduced their target price for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. ValuEngine raised shares of PACCAR from a sell rating to a hold rating in a research report on Friday, October 4th. Morgan Stanley boosted their target price 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. BidaskClub raised shares of PACCAR from a sell rating to a hold rating in a research report on Friday, September 6th. Finally, Credit Suisse Group boosted their target price on shares of PACCAR from $74.00 to $76.00 and gave the company a neutral rating 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. The stock has a consensus rating of Hold and an average target price of $68.89.
PCAR stock traded up $1.78 during midday trading on Wednesday, reaching $69.10. 2,274,623 shares of the company were exchanged, compared to its average volume of 1,599,798. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 2.26. The business has a 50-day moving average price of $67.81 and a two-hundred day moving average price of $68.91. PACCAR has a one year low of $53.43 and a one year high of $73.00. The firm has a market capitalization of $23.32 billion, a price-to-earnings ratio of 11.07, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.04). The business had revenue of $6.27 billion during 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%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.59 EPS. As a group, analysts anticipate that PACCAR will post 6.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Friday, November 8th. PACCAR’s dividend payout ratio (DPR) is presently 20.51%.
In related news, VP David J. Danforth sold 848 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total value 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 $355,290.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.32% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Compagnie Lombard Odier SCmA increased its stake in shares of PACCAR by 35.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock valued at $43,000 after buying an additional 157 shares during the period. Hartford Investment Management Co. increased its stake 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 buying an additional 168 shares during the period. First National Bank of South Miami increased its stake in shares of PACCAR by 5.6% in the second quarter. First National Bank of South Miami now owns 3,199 shares of the company’s stock valued at $224,000 after buying an additional 170 shares during the period. Coldstream Capital Management Inc. increased its stake in shares of PACCAR by 1.0% in the second quarter. Coldstream Capital Management Inc. now owns 18,242 shares of the company’s stock valued at $1,307,000 after buying an additional 172 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of PACCAR by 11.2% in the second quarter. Parallel Advisors LLC now owns 1,909 shares of the company’s stock valued at $137,000 after buying an additional 192 shares during the period. 63.66% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: What is the role of the G-20?
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.