PACCAR (NASDAQ:PCAR) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of PACCAR (NASDAQ:PCAR) from a sell rating to a strong sell rating in a research note published on Thursday, June 21st.

PCAR has been the subject of several other research reports. JPMorgan Chase & Co. set a $72.00 price objective on shares of PACCAR and gave the company a hold rating in a research report on Wednesday, April 25th. Macquarie upgraded shares of PACCAR from a neutral rating to an outperform rating and set a $75.00 price target for the company in a research report on Tuesday, June 5th. Zacks Investment Research lowered shares of PACCAR from a buy rating to a hold rating in a research note on Wednesday, May 16th. Wells Fargo & Co set a $70.00 price target on shares of PACCAR and gave the company a market perform rating in a research note on Wednesday, April 25th. Finally, ValuEngine downgraded shares of PACCAR from a buy rating to a hold rating in a report on Tuesday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $73.30.

Shares of PACCAR opened at $61.96 on Thursday, according to MarketBeat. The company has a current ratio of 2.45, a quick ratio of 2.29 and a debt-to-equity ratio of 0.69. The firm has a market cap of $21.83 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21. PACCAR has a 12 month low of $60.36 and a 12 month high of $79.69.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 24th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.14. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.01 billion. PACCAR had a net margin of 8.99% and a return on equity of 21.26%. PACCAR’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. equities research analysts forecast that PACCAR will post 5.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 5th. Stockholders of record on Tuesday, May 15th were given a dividend of $0.28 per share. The ex-dividend date was Monday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.25. This represents a $1.12 annualized dividend and a dividend yield of 1.81%. PACCAR’s dividend payout ratio (DPR) is currently 26.29%.

In other PACCAR news, insider T. Kyle Quinn sold 9,964 shares of PACCAR stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $64.69, for a total transaction of $644,571.16. Following the completion of the transaction, the insider now owns 32,000 shares of the company’s stock, valued at approximately $2,070,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C Michael Dozier sold 13,348 shares of PACCAR stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $63.45, for a total value of $846,930.60. Following the transaction, the vice president now directly owns 8,860 shares of the company’s stock, valued at approximately $562,167. The disclosure for this sale can be found here. Company insiders own 2.64% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PCAR. Jacobi Capital Management LLC purchased a new position in shares of PACCAR during the first quarter valued at approximately $102,000. Point72 Asia Hong Kong Ltd grew its stake in PACCAR by 1,202.7% in the first quarter. Point72 Asia Hong Kong Ltd now owns 2,423 shares of the company’s stock worth $160,000 after purchasing an additional 2,237 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in PACCAR in the fourth quarter worth $171,000. Silvant Capital Management LLC purchased a new stake in PACCAR in the first quarter worth $177,000. Finally, Motley Fool Asset Management LLC purchased a new stake in PACCAR in the first quarter worth $204,000. 62.96% of the stock is currently owned by hedge funds and other 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. 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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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