PACCAR (NASDAQ:PCAR) Upgraded by Wall Street Zen to Hold Rating

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

PCAR has been the subject of several other research reports. Citigroup upped their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Tuesday, June 24th. JPMorgan Chase & Co. downgraded shares of PACCAR from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Royal Bank Of Canada reduced their price target on shares of PACCAR from $106.00 to $97.00 and set a “sector perform” rating for the company in a research report on Thursday, May 8th. Evercore ISI reduced their price target on shares of PACCAR from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Finally, Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.59.

PACCAR Stock Down 2.1%

Shares of NASDAQ:PCAR opened at $97.28 on Friday. The company has a market capitalization of $51.07 billion, a PE ratio of 14.74, a P/E/G ratio of 3.61 and a beta of 0.94. The company has a current ratio of 2.35, a quick ratio of 2.19 and a debt-to-equity ratio of 0.55. PACCAR has a twelve month low of $84.65 and a twelve month high of $118.81. The firm has a 50 day simple moving average of $93.45 and a 200-day simple moving average of $99.19.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The company had revenue of $6.91 billion for the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm’s quarterly revenue was down 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.27 EPS. On average, equities analysts predict that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director directly owned 13,015 shares in the company, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the stock. LPL Financial LLC grew its stake in shares of PACCAR by 6.1% during the 4th quarter. LPL Financial LLC now owns 212,405 shares of the company’s stock worth $22,094,000 after purchasing an additional 12,143 shares during the period. American Century Companies Inc. grew its stake in shares of PACCAR by 15.8% during the 4th quarter. American Century Companies Inc. now owns 631,369 shares of the company’s stock worth $65,675,000 after purchasing an additional 86,215 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in shares of PACCAR by 15.1% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 794,946 shares of the company’s stock worth $77,404,000 after buying an additional 104,281 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of PACCAR by 20.8% in the 4th quarter. Natixis Advisors LLC now owns 1,042,761 shares of the company’s stock worth $108,468,000 after buying an additional 179,577 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of PACCAR by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock worth $3,533,000 after buying an additional 13,904 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.