PACCAR (NASDAQ:PCAR) Lowered to “Sell” at ValuEngine

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

Several other equities analysts also recently commented on PCAR. JPMorgan Chase & Co. raised PACCAR from an underweight rating to a neutral rating and decreased their target price for the company from $87.00 to $66.00 in a research report on Wednesday, July 24th. Loop Capital downgraded PACCAR from a hold rating to a sell rating and decreased their target price for the company from $70.00 to $62.00 in a research report on Tuesday, July 2nd. Morgan Stanley upped their target price on PACCAR from $63.00 to $64.00 and gave the company an underweight rating in a research report on Wednesday, July 24th. Credit Suisse Group upped their target price on PACCAR from $74.00 to $76.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. Finally, BidaskClub raised PACCAR from a sell rating to a hold rating in a research report on Friday, September 6th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $68.89.

Shares of PACCAR stock traded up $0.38 on Thursday, hitting $69.48. The stock had a trading volume of 1,352,741 shares, compared to its average volume of 1,806,296. PACCAR has a twelve month low of $53.43 and a twelve month high of $73.00. The business’s 50 day moving average is $68.17 and its two-hundred day moving average is $68.94. The company has a quick ratio of 2.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.70. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.42 and a beta of 1.26.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.04). PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The firm had revenue of $6.27 billion during the quarter, compared to analyst estimates of $6.21 billion. During the same period in the previous year, the company posted $1.59 EPS. PACCAR’s revenue for the quarter was up 14.6% compared to the same quarter last year. As a group, equities analysts predict 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 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Friday, November 8th. PACCAR’s dividend payout ratio (DPR) is currently 20.51%.

In related news, VP David J. Danforth sold 848 shares of the business’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 completion of the sale, the vice president now directly owns 4,958 shares in the company, valued at $355,290.28. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.32% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Destination Wealth Management bought a new stake in PACCAR during the second quarter worth $25,000. Virtus ETF Advisers LLC bought a new stake in PACCAR during the second quarter worth $26,000. Advisory Services Network LLC lifted its stake in PACCAR by 149.4% during the second quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock worth $31,000 after purchasing an additional 260 shares during the last quarter. Enterprise Financial Services Corp lifted its stake in PACCAR by 76.8% during the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after purchasing an additional 212 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in PACCAR during the second quarter worth $41,000. Hedge funds and other institutional investors own 63.68% 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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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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