PACCAR (NASDAQ:PCAR) Upgraded at Wall Street Zen

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

PCAR has been the subject of a number of other reports. JPMorgan Chase & Co. raised shares of PACCAR from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $108.00 to $133.00 in a research note on Friday, December 19th. Jefferies Financial Group restated a “hold” rating and issued a $90.00 target price on shares of PACCAR in a research report on Tuesday, October 21st. Wolfe Research raised PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Finally, Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.04.

PACCAR Trading Down 0.3%

NASDAQ:PCAR opened at $111.44 on Friday. The stock has a market cap of $58.53 billion, a price-to-earnings ratio of 21.81, a PEG ratio of 15.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.12. PACCAR has a 1 year low of $84.65 and a 1 year high of $115.43. The business has a fifty day moving average of $104.20 and a 200-day moving average of $99.83.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The company 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%. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Equities analysts predict that PACCAR will post 7.57 earnings per share for the current 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 given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 11th. PACCAR’s dividend payout ratio (DPR) is 25.83%.

Insider Activity

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 approximately $47,338.20. The trade was a 87.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently modified their holdings of the business. Private Wealth Management Group LLC lifted its position in shares of PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 211 shares during the last quarter. Hazlett Burt & Watson Inc. increased its holdings in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the last quarter. Wealth Watch Advisors INC bought a new position in shares of PACCAR in the 3rd quarter valued at approximately $32,000. AlphaQuest LLC bought a new position in shares of PACCAR in the 3rd quarter valued at approximately $38,000. Finally, Bayforest Capital Ltd lifted its holdings in PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Company Profile

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.