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

Key Points

• PACCAR was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a shift in market perception.
• Other analysts have varied opinions, with price targets ranging from $90 to $108, indicating a consensus rating of "Moderate Buy" with a target of $106.59.
• The company's recent earnings report revealed a miss on EPS estimates and a 20.7% decline in revenue compared to the same quarter last year.

PACCAR (NASDAQ:PCAR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Other equities research analysts have also recently issued reports about the company. Truist Financial lifted their price objective on PACCAR from $97.00 to $108.00 and gave the stock a "hold" rating in a report on Wednesday. Vertical Research raised PACCAR to a "strong-buy" rating in a research note on Wednesday, July 23rd. Jefferies Financial Group reaffirmed a "hold" rating and issued a $90.00 price target on shares of PACCAR in a research note on Tuesday. Morgan Stanley set a $90.00 target price on shares of PACCAR in a research note on Tuesday. Finally, Zacks Research cut shares of PACCAR from a "hold" rating to a "strong sell" rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $106.59.

PACCAR Price Performance

PACCAR stock opened at $100.13 on Friday. The company's fifty day moving average price is $98.52 and its 200 day moving average price is $95.71. PACCAR has a 1 year low of $84.65 and a 1 year high of $118.81. The stock has a market capitalization of $52.58 billion, a P/E ratio of 19.59, a P/E/G ratio of 4.12 and a beta of 0.94. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.80 and a current ratio of 1.82.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate 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 $6.67 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the business earned $1.85 EPS. The firm's revenue for the quarter was down 20.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the transaction, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its holdings in 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 purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings 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 during the last quarter. Intellectus Partners LLC lifted its holdings in PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company's stock valued at $1,015,000 after acquiring an additional 109 shares during the last quarter. Matrix Trust Co lifted its stake in shares of PACCAR by 3.9% in the 3rd quarter. Matrix Trust Co now owns 2,948 shares of the company's stock valued at $290,000 after purchasing an additional 110 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC lifted its stake in shares of PACCAR by 1.2% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company's stock valued at $917,000 after purchasing an additional 116 shares during the last quarter. 64.90% of the stock is currently 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.

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