ValuEngine Downgrades PACCAR (NASDAQ:PCAR) to Sell

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

PCAR has been the topic of a number of other research reports. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Friday, September 6th. JPMorgan Chase & Co. raised shares of PACCAR from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $87.00 to $66.00 in a report on Wednesday, July 24th. OTR Global lowered shares of PACCAR from a “mixed” rating to a “negative” rating in a report on Wednesday. Credit Suisse Group increased their price target on shares of PACCAR from $74.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Morgan Stanley increased their price target on shares of PACCAR from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Wednesday, July 24th. Five equities 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. PACCAR has an average rating of “Hold” and a consensus price target of $68.89.

NASDAQ PCAR opened at $69.10 on Thursday. PACCAR has a 1 year low of $53.43 and a 1 year high of $73.00. 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 stock has a market capitalization of $23.17 billion, a PE ratio of 9.85, a P/E/G ratio of 1.41 and a beta of 1.26. The company’s 50 day simple moving average is $67.81 and its two-hundred day simple moving average is $68.91.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion during the quarter, compared to the consensus estimate of $6.21 billion. PACCAR had a return on equity of 25.99% and a net margin of 9.43%. PACCAR’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.59 EPS. On average, research analysts anticipate that PACCAR will post 6.77 EPS for the current year.

In related news, VP David J. Danforth sold 848 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $71.66, for a total transaction of $60,767.68. Following the transaction, the vice president now owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.32% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Destination Wealth Management bought a new position in shares of PACCAR during the 2nd quarter valued at $25,000. Virtus ETF Advisers LLC bought a new position in shares of PACCAR during the 2nd quarter valued at $26,000. Advisory Services Network LLC grew its holdings in shares of PACCAR by 149.4% during the 2nd quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock valued at $31,000 after purchasing an additional 260 shares during the last quarter. Enterprise Financial Services Corp grew its holdings in shares of PACCAR by 76.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after purchasing an additional 212 shares during the last quarter. Finally, Meridian Wealth Management LLC bought a new position in shares of PACCAR during the 1st quarter valued at $41,000. 63.66% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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