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

PACCAR (NASDAQ:PCAR - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Sunday.

A number of other equities research analysts also recently commented on the company. Citigroup lifted their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Royal Bank Of Canada lowered their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Truist Financial dropped their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $104.59.

PACCAR Price Performance

NASDAQ:PCAR opened at $97.21 on Friday. PACCAR has a 12-month low of $84.65 and a 12-month high of $118.81. The firm has a market cap of $51.03 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 3.59 and a beta of 0.94. The company's 50-day moving average is $94.21 and its two-hundred day moving average is $98.87. 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 (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business's quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.27 EPS. Research analysts expect that PACCAR will post 7.57 EPS for the current year.

Insider Transactions at PACCAR

In related news, Director Pierre R. Breber acquired 5,000 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were bought at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the transaction, the director directly owned 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently modified their holdings of the stock. Brighton Jones LLC grew its position in PACCAR by 0.3% in the fourth quarter. Brighton Jones LLC now owns 89,001 shares of the company's stock valued at $9,258,000 after acquiring an additional 290 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of PACCAR in the fourth quarter valued at $215,000. Independent Advisor Alliance grew its holdings in PACCAR by 27.6% during the 4th quarter. Independent Advisor Alliance now owns 6,586 shares of the company's stock valued at $685,000 after purchasing an additional 1,425 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in PACCAR by 14.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 850 shares of the company's stock worth $88,000 after buying an additional 107 shares during the period. Finally, Avantax Advisory Services Inc. increased its stake in PACCAR by 8.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 14,748 shares of the company's stock worth $1,534,000 after buying an additional 1,105 shares during the period. Institutional investors and hedge funds own 64.90% of the company's stock.

About PACCAR

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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