Short Interest in PACCAR Inc (NASDAQ:PCAR) Expands By 12.2%

PACCAR Inc (NASDAQ:PCAR) saw a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 7,100,000 shares, a growth of 12.2% from the December 15th total of 6,330,000 shares. Approximately 2.1% of the shares of the company are sold short. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 4.4 days.

A number of research analysts have recently commented on the company. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley increased their price target on PACCAR from $64.00 to $67.00 and gave the company an “underweight” rating in a research note on Monday, December 16th. Cowen assumed coverage on PACCAR in a research note on Thursday, January 9th. They issued an “underperform” rating and a $66.00 price target for the company. Buckingham Research increased their price target on PACCAR from $70.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. dropped their price target on PACCAR from $70.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 10th. Six research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.84.

In other PACCAR news, VP Douglas S. Grandstaff sold 1,320 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $76.02, for a total transaction of $100,346.40. Following the completion of the sale, the vice president now directly owns 6,124 shares in the company, valued at $465,546.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 7,927 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $77.73, for a total value of $616,165.71. Following the sale, the chief financial officer now owns 40,051 shares of the company’s stock, valued at $3,113,164.23. The disclosure for this sale can be found here. Insiders sold 106,949 shares of company stock worth $8,207,798 in the last ninety days. 2.32% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtus ETF Advisers LLC bought a new stake in PACCAR during the 2nd quarter valued at about $26,000. Quest Capital Management Inc. ADV bought a new stake in PACCAR during the 3rd quarter valued at about $34,000. Point72 Asset Management L.P. bought a new stake in PACCAR during the 2nd quarter valued at about $41,000. Compagnie Lombard Odier SCmA lifted its holdings in PACCAR by 35.0% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 606 shares of the company’s stock valued at $43,000 after buying an additional 157 shares in the last quarter. Finally, Rational Advisors LLC lifted its holdings in PACCAR by 37.4% during the 3rd quarter. Rational Advisors LLC now owns 940 shares of the company’s stock valued at $66,000 after buying an additional 256 shares in the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.

NASDAQ PCAR traded down $0.19 on Thursday, reaching $77.71. The company had a trading volume of 18,214 shares, compared to its average volume of 1,363,246. The firm has a market cap of $27.05 billion, a price-to-earnings ratio of 12.46, a P/E/G ratio of 2.01 and a beta of 1.26. PACCAR has a fifty-two week low of $59.46 and a fifty-two week high of $83.41. The business has a 50 day moving average of $80.07 and a two-hundred day moving average of $73.23. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.23.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 22nd. The company reported $1.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.11. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $5.97 billion. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. PACCAR’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, research analysts predict that PACCAR will post 6.85 earnings per share for the current fiscal year.

The business also recently disclosed a None dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $2.30 dividend. This is an increase from PACCAR’s previous None dividend of $2.00. The ex-dividend date of this dividend was Thursday, December 19th. PACCAR’s dividend payout ratio is presently 20.51%.

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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