PACCAR (NASDAQ:PCAR) Stock Rating Lowered by Weiss Ratings

PACCAR (NASDAQ:PCAR) was downgraded by research analysts at Weiss Ratings from a “buy (b-)” rating to a “hold (c+)” rating in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other analysts also recently weighed in on PCAR. Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday. Wall Street Zen downgraded PACCAR from a “hold” rating to a “sell” rating in a research note on Saturday. Morgan Stanley set a $90.00 price target on PACCAR in a research note on Tuesday. Argus upgraded PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Monday, July 28th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $90.00 price target on shares of PACCAR in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $106.59.

PACCAR Stock Up 0.8%

Shares of PCAR stock opened at $100.13 on Friday. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The stock’s fifty day moving average price is $98.52 and its 200 day moving average price is $95.77. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 2.80. The company has a market cap of $52.58 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 4.15 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter last year, the firm earned $1.85 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, research analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Activity at PACCAR

In other news, CEO R Preston Feight sold 39,965 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $99.52, for a total value of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares in the company, valued at $22,211,868.80. This represents a 15.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.02% of the stock is owned by insiders.

Institutional Trading of PACCAR

Hedge funds have recently modified their holdings of the stock. Private Wealth Management Group LLC raised its holdings in PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Hazlett Burt & Watson Inc. raised its holdings in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Bayforest Capital Ltd raised its holdings in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the period. Accent Capital Management LLC acquired a new position in PACCAR in the 1st quarter worth about $40,000. Finally, Hantz Financial Services Inc. raised its holdings in PACCAR by 43.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 440 shares of the company’s stock worth $42,000 after purchasing an additional 134 shares during the period. Hedge funds and other institutional investors own 64.90% 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, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.