Mizuho Drops Coverage on PACCAR (PCAR)

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Mizuho dropped coverage on shares of PACCAR (NASDAQ:PCAR) in a report published on Thursday, October 25th.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of PACCAR from a strong-buy rating to a hold rating in a research note on Tuesday, September 25th. BidaskClub upgraded shares of PACCAR from a hold rating to a buy rating in a research note on Wednesday, August 22nd. Wolfe Research lowered shares of PACCAR from a peer perform rating to an underperform rating in a research note on Friday, October 5th. ValuEngine lowered shares of PACCAR from a hold rating to a sell rating in a research note on Tuesday, October 2nd. Finally, Evercore ISI upgraded shares of PACCAR from an in-line rating to an outperform rating in a research note on Monday, August 6th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have assigned a buy rating to the company’s stock. PACCAR presently has a consensus rating of Hold and an average price target of $68.73.

Shares of PCAR traded down $1.50 during mid-day trading on Thursday, hitting $58.36. 1,637,782 shares of the company’s stock were exchanged, compared to its average volume of 2,797,397. The stock has a market capitalization of $21.00 billion, a PE ratio of 10.38, a P/E/G ratio of 0.90 and a beta of 1.39. PACCAR has a fifty-two week low of $53.95 and a fifty-two week high of $79.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.63.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.50 billion. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The firm’s revenue was up 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 earnings per share. On average, sell-side analysts predict that PACCAR will post 6.16 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, November 9th. PACCAR’s dividend payout ratio (DPR) is presently 26.29%.

In related news, VP David J. Danforth sold 651 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the sale, the vice president now owns 5,453 shares of the company’s stock, valued at $324,126.32. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark C. Pigott sold 194,004 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the transaction, the insider now owns 3,080,449 shares in the company, valued at $181,253,619.16. The disclosure for this sale can be found here. Insiders own 2.64% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Flinton Capital Management LLC grew its position in shares of PACCAR by 30.6% during the second quarter. Flinton Capital Management LLC now owns 56,976 shares of the company’s stock worth $3,530,000 after acquiring an additional 13,360 shares during the last quarter. Standard Life Aberdeen plc grew its position in PACCAR by 17.9% in the 2nd quarter. Standard Life Aberdeen plc now owns 127,423 shares of the company’s stock valued at $7,896,000 after buying an additional 19,376 shares during the last quarter. Garde Capital Inc. grew its position in PACCAR by 6.0% in the 2nd quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock valued at $823,000 after buying an additional 750 shares during the last quarter. Royal London Asset Management Ltd. acquired a new stake in PACCAR in the second quarter valued at $9,769,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in PACCAR by 2.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 132,924 shares of the company’s stock valued at $8,237,000 after acquiring an additional 3,194 shares during the period. Institutional investors own 61.33% 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, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers 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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