Paccar Inc. (PCAR) Downgraded by Zacks Investment Research to Sell
According to Zacks, “PACCAR holds a strong market share in the U.S. and Canada. Moreover, the company is well positioned in the key non-U.S. markets, backed by its strategic investments. Further, PACCAR follows an active capital deployment policy to boost earnings. The company raised its outlook for industry sales in Europe and modified the same for the U.S. and Canada. However, PACCAR is likely to be affected by the expected decline in Class 8 industry retail sales in the U.S. and Canada this year. It is also facing competition in the commercial trucks market.”
Other research analysts have also issued research reports about the stock. Robert W. Baird reiterated a buy rating on shares of Paccar in a report on Tuesday, June 28th. BMO Capital Markets reiterated a hold rating and issued a $57.00 price objective on shares of Paccar in a report on Friday, July 29th. Deutsche Bank AG initiated coverage on shares of Paccar in a report on Tuesday, September 6th. They set a hold rating and a $63.00 price target for the company. Credit Agricole SA initiated coverage on shares of Paccar in a report on Friday. They set an outperform rating and a $65.00 price target for the company. Finally, Bank of America Corp. restated a buy rating on shares of Paccar in a report on Thursday, June 16th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $56.13.
Paccar (NASDAQ:PCAR) opened at 59.13 on Monday. Paccar has a 12-month low of $43.46 and a 12-month high of $60.86. The firm has a market cap of $20.73 billion, a PE ratio of 31.39 and a beta of 1.51. The stock has a 50 day moving average of $58.41 and a 200 day moving average of $56.03.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The business earned $4.12 billion during the quarter, compared to analyst estimates of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The firm’s quarterly revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the business earned $1.26 EPS. On average, equities research analysts anticipate that Paccar will post $3.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is presently 51.34%.
A number of institutional investors have recently modified their holdings of PCAR. NN Investment Partners Holdings N.V. bought a new position in shares of Paccar during the first quarter valued at $111,000. Assetmark Inc. bought a new position in shares of Paccar during the second quarter valued at $128,000. Meeder Asset Management Inc. bought a new position in shares of Paccar during the first quarter valued at $224,000. Advisor Group Inc. bought a new position in shares of Paccar during the second quarter valued at $222,000. Finally, BlueMountain Capital Management LLC boosted its position in shares of Paccar by 796.3% in the first quarter. BlueMountain Capital Management LLC now owns 4,338 shares of the company’s stock valued at $237,000 after buying an additional 3,854 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Paccar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paccar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.