PACCAR (NASDAQ:PCAR) Rating Lowered to Sell at Wall Street Zen

PACCAR (NASDAQ:PCAR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

A number of other research firms also recently issued reports on PCAR. Citigroup restated a “neutral” rating and set a $120.00 price target (up from $113.56) on shares of PACCAR in a research note on Tuesday, January 13th. JPMorgan Chase & Co. lifted their price target on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 14th. Morgan Stanley upped their price objective on PACCAR from $93.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 13th. Wells Fargo & Company started coverage on PACCAR in a report on Thursday, November 13th. They set a “positive” rating and a $106.00 price target for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research note on Tuesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.33.

PACCAR Stock Down 0.5%

Shares of NASDAQ PCAR opened at $121.36 on Friday. The stock has a market capitalization of $63.74 billion, a P/E ratio of 23.75, a PEG ratio of 14.96 and a beta of 1.01. PACCAR has a one year low of $84.65 and a one year high of $122.65. The firm’s 50 day simple moving average is $108.94 and its two-hundred day simple moving average is $102.04. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the firm posted $1.85 EPS. The company’s revenue was down 20.7% on a year-over-year basis. As a group, analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. boosted its holdings in shares of PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after buying an additional 100 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares in the last quarter. First Pacific Financial grew its holdings in PACCAR by 11.1% in the fourth quarter. First Pacific Financial now owns 1,058 shares of the company’s stock worth $116,000 after purchasing an additional 106 shares during the last quarter. Fulton Bank N.A. increased its position in shares of PACCAR by 3.2% during the fourth quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock worth $379,000 after purchasing an additional 107 shares in the last quarter. Finally, Foundations Investment Advisors LLC lifted its holdings in shares of PACCAR by 3.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.