PACCAR (NASDAQ:PCAR) Downgraded to “Hold” at StockNews.com

PACCAR (NASDAQ:PCAR) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other analysts have also weighed in on the company. The Goldman Sachs Group upped their target price on PACCAR from $106.00 to $121.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Royal Bank of Canada initiated coverage on PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. UBS Group upgraded PACCAR from a “neutral” rating to a “buy” rating and increased their target price for the stock from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial restated a “hold” rating and issued a $121.00 price objective (up from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. cut their price objective on PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Eight analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $114.38.

PACCAR Stock Down 0.3 %

Shares of NASDAQ PCAR traded down $0.32 during midday trading on Thursday, hitting $103.97. 2,305,647 shares of the company’s stock were exchanged, compared to its average volume of 2,468,491. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR has a twelve month low of $79.95 and a twelve month high of $125.50. The company has a market cap of $54.50 billion, a PE ratio of 10.79, a P/E/G ratio of 1.63 and a beta of 0.94. The firm’s fifty day simple moving average is $107.96 and its 200-day simple moving average is $107.62.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.25 earnings per share. Research analysts predict that PACCAR will post 8.36 EPS for the current fiscal year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other PACCAR news, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $109.40, for a total value of $226,129.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,040 shares of company stock valued at $4,779,241. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. PSI Advisors LLC acquired a new stake in shares of PACCAR in the first quarter worth about $25,000. AdvisorNet Financial Inc lifted its position in shares of PACCAR by 188.5% during the 4th quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of PACCAR during the 1st quarter worth about $27,000. New Covenant Trust Company N.A. acquired a new position in shares of PACCAR during the 1st quarter worth about $27,000. Finally, Riverview Trust Co acquired a new position in shares of PACCAR during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.