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

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

PCAR has been the topic of several other research reports. JPMorgan Chase & Co. lifted their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday. Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded shares of PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Citigroup reissued a “neutral” rating and set a $120.00 price objective (up previously from $113.56) on shares of PACCAR in a report on Tuesday. Finally, UBS Group set a $103.00 target price on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.33.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $121.36 on Friday. The company has a market capitalization of $63.74 billion, a P/E ratio of 23.75, a P/E/G ratio of 14.96 and a beta of 1.01. PACCAR has a 1-year low of $84.65 and a 1-year high of $122.65. The firm’s 50 day simple moving average is $108.94 and its two-hundred day simple moving average is $102.02. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.12 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The firm had revenue of $7.24 billion for the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 earnings per share. Research analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio is presently 25.83%.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of PACCAR stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.02% of the stock is owned by company insiders.

Institutional Trading of PACCAR

Institutional investors have recently bought and sold shares of the business. Private Wealth Management Group LLC lifted its position in shares of PACCAR by 293.1% during the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares in the last quarter. Wealth Watch Advisors INC acquired a new stake in shares of PACCAR in the third quarter valued at about $32,000. True Wealth Design LLC grew its position in shares of PACCAR by 61.1% in the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares during the period. Finally, AlphaQuest LLC purchased a new stake in shares of PACCAR during the third quarter worth about $38,000. 64.90% of the stock is owned by institutional investors and hedge funds.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.