PACCAR (PCAR) Downgraded by BidaskClub

BidaskClub downgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a strong sell rating in a research report released on Saturday morning.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. lowered their price objective on PACCAR from $74.00 to $72.00 and set a hold rating for the company in a research report on Tuesday, April 10th. Deutsche Bank downgraded PACCAR from a hold rating to a sell rating and set a $77.00 price objective for the company. in a research report on Monday, March 19th. Zacks Investment Research downgraded PACCAR from a buy rating to a hold rating in a research report on Tuesday, April 3rd. ValuEngine upgraded PACCAR from a hold rating to a buy rating in a research report on Tuesday, April 3rd. Finally, Robert W. Baird reiterated a hold rating and issued a $80.00 price objective on shares of PACCAR in a research report on Tuesday, April 17th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $73.30.

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Shares of PCAR stock opened at $61.84 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.45 and a debt-to-equity ratio of 0.69. PACCAR has a fifty-two week low of $59.82 and a fifty-two week high of $79.69. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.10 and a beta of 1.22.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 24th. The company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.31 by $0.14. PACCAR had a return on equity of 21.26% and a net margin of 8.99%. The firm had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The business’s revenue was up 35.2% on a year-over-year basis. equities analysts predict that PACCAR will post 5.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 5th. Stockholders of record on Tuesday, August 14th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.81%. PACCAR’s dividend payout ratio (DPR) is presently 26.29%.

In related news, insider T. Kyle Quinn sold 9,964 shares of the company’s stock in a transaction on Monday, May 7th. The stock was sold at an average price of $64.69, for a total value of $644,571.16. Following the sale, the insider now directly owns 32,000 shares of the company’s stock, valued at $2,070,080. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP C Michael Dozier sold 13,348 shares of the company’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $63.45, for a total value of $846,930.60. Following the completion of the sale, the vice president now directly owns 8,860 shares in the company, valued at $562,167. The disclosure for this sale can be found here. 2.64% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Jacobi Capital Management LLC purchased a new stake in PACCAR in the first quarter worth $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. Silvant Capital Management LLC purchased a new stake in PACCAR in the first quarter worth $177,000. Motley Fool Asset Management LLC purchased a new stake in PACCAR in the first quarter worth $204,000. Finally, Two Sigma Securities LLC purchased a new stake in PACCAR in the fourth quarter worth $226,000. 62.99% of the stock is currently owned by institutional investors.

About PACCAR

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.