PACCAR (PCAR) Upgraded to Sell at BidaskClub

BidaskClub upgraded shares of PACCAR (NASDAQ:PCAR) from a strong sell rating to a sell rating in a research report released on Thursday, July 26th.

Several other equities analysts have also recently issued reports on PCAR. UBS Group cut PACCAR from a buy rating to a neutral rating and set a $68.00 price objective for the company. in a report on Wednesday, May 2nd. Royal Bank of Canada cut PACCAR from an outperform rating to a sector perform rating and set a $75.00 price target for the company. in a report on Wednesday, April 25th. Credit Suisse Group cut their price target on PACCAR from $70.00 to $69.00 and set a neutral rating for the company in a report on Wednesday, July 25th. Zacks Investment Research cut PACCAR from a buy rating to a hold rating in a report on Tuesday, April 3rd. Finally, ValuEngine downgraded PACCAR from a sell rating to a strong sell rating in a research report on Wednesday, July 4th. Four analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $71.64.

PACCAR opened at $63.56 on Thursday, MarketBeat reports. PACCAR has a 52-week low of $59.82 and a 52-week high of $79.69. The company has a market cap of $22.54 billion, a P/E ratio of 14.92, a PEG ratio of 0.99 and a beta of 1.24. The company has a current ratio of 2.52, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 24th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.16. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.39 billion. PACCAR had a return on equity of 22.68% and a net margin of 9.39%. The company’s revenue was up 24.3% on a year-over-year basis. During the same period last year, the business posted $1.06 EPS. research analysts expect that PACCAR will post 5.99 EPS for the current fiscal year.

PACCAR declared that its board has approved a stock buyback program on Monday, July 9th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 5th. Investors of record on Tuesday, August 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, August 13th. PACCAR’s dividend payout ratio (DPR) is 26.29%.

In other PACCAR news, VP Douglas S. Grandstaff sold 580 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $65.90, for a total transaction of $38,222.00. Following the sale, the vice president now owns 5,891 shares in the company, valued at $388,216.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP C Michael Dozier sold 13,348 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were sold at an average price of $63.45, for a total value of $846,930.60. Following the sale, the vice president now owns 8,860 shares in the company, valued at approximately $562,167. The disclosure for this sale can be found here. Insiders have sold 22,982 shares of company stock worth $1,472,441 in the last 90 days. 2.64% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in shares of PACCAR by 522.5% during the second quarter. Stephens Inc. AR now owns 25,093 shares of the company’s stock valued at $1,555,000 after purchasing an additional 21,062 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of PACCAR by 2.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 132,924 shares of the company’s stock valued at $8,237,000 after purchasing an additional 3,194 shares during the last quarter. ING Groep NV grew its holdings in shares of PACCAR by 16.2% during the second quarter. ING Groep NV now owns 14,418 shares of the company’s stock valued at $893,000 after purchasing an additional 2,006 shares during the last quarter. Richard Bernstein Advisors LLC bought a new position in shares of PACCAR during the second quarter valued at approximately $4,533,000. Finally, Employees Retirement System of Texas grew its holdings in shares of PACCAR by 11.4% during the second quarter. Employees Retirement System of Texas now owns 39,000 shares of the company’s stock valued at $2,416,000 after purchasing an additional 4,000 shares during the last quarter. 62.97% of the stock is owned by institutional investors.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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