PACCAR (NASDAQ:PCAR) Cut to “Sell” at Wall Street Zen

Wall Street Zen downgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a sell rating in a research note published on Saturday.

Other equities research analysts have also issued reports about the stock. Truist Financial boosted their price objective on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a report on Wednesday, October 22nd. Vertical Research raised shares of PACCAR to a “strong-buy” rating in a report on Wednesday, July 23rd. UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of PACCAR from $103.00 to $108.00 and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of PACCAR in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PACCAR presently has a consensus rating of “Hold” and an average target price of $106.59.

PACCAR Price Performance

PCAR opened at $101.08 on Friday. The business’s 50-day moving average is $98.57 and its two-hundred day moving average is $95.84. PACCAR has a 1 year low of $84.65 and a 1 year high of $118.81. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.51. The firm has a market capitalization of $53.08 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 4.18 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last released its quarterly 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 return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $6.67 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same period in the prior year, the firm posted $1.85 earnings per share. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. Research analysts anticipate that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, November 12th. This represents a $1.32 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of PACCAR by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 62,995,929 shares of the company’s stock valued at $6,133,914,000 after acquiring an additional 1,113,520 shares during the period. State Street Corp raised its holdings in shares of PACCAR by 1.0% in the 2nd quarter. State Street Corp now owns 22,534,596 shares of the company’s stock valued at $2,142,139,000 after buying an additional 218,188 shares during the period. Wellington Management Group LLP raised its holdings in shares of PACCAR by 20.1% in the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock valued at $1,964,725,000 after buying an additional 3,379,165 shares during the period. Geode Capital Management LLC increased its stake in PACCAR by 1.3% during the second quarter. Geode Capital Management LLC now owns 12,455,453 shares of the company’s stock worth $1,184,112,000 after purchasing an additional 159,632 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in PACCAR by 9.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 11,754,939 shares of the company’s stock worth $1,144,578,000 after purchasing an additional 987,805 shares during the period. Hedge funds and other institutional investors 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.