Trade Report: TheStreet Downgrades Paccar Inc. (PCAR) to Hold

TheStreet Downgrades Paccar Inc. (PCAR) to Hold

TheStreet lowered shares of Paccar Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a report published on Tuesday.

Several other analysts have also commented on PCAR. Robert W. Baird reiterated a buy rating on shares of Paccar in a report on Tuesday, June 28th. Deutsche Bank AG started coverage on Paccar in a report on Tuesday, September 6th. They set a hold rating and a $63.00 price objective for the company. BMO Capital Markets reiterated a hold rating and set a $57.00 price objective on shares of Paccar in a report on Friday, July 29th. Zacks Investment Research upgraded Paccar from a sell rating to a hold rating in a report on Thursday, July 28th. Finally, Barclays PLC set a $47.00 price objective on Paccar and gave the company a sell rating in a report on Wednesday, July 27th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $56.13.

Shares of Paccar (NASDAQ:PCAR) opened at 55.39 on Tuesday. The firm’s 50-day moving average price is $57.28 and its 200 day moving average price is $56.43. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 33.71 and a beta of 1.51. Paccar has a 12-month low of $43.46 and a 12-month high of $60.86.

Paccar (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 25th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.01. The company had revenue of $4.25 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Paccar had a return on equity of 20.96% and a net margin of 3.41%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. On average, analysts predict that Paccar will post $3.91 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is presently 58.54%.

Several large investors have recently bought and sold shares of PCAR. NN Investment Partners Holdings N.V. acquired a new stake in Paccar during the first quarter worth approximately $111,000. Assetmark Inc. purchased a new stake in Paccar during the second quarter valued at about $128,000. Regentatlantic Capital LLC purchased a new stake in Paccar during the third quarter valued at about $202,000. Raymond James Trust N.A. purchased a new stake in Paccar during the third quarter valued at about $216,000. Finally, Advisor Group Inc. purchased a new stake in Paccar during the second quarter valued at about $222,000. Hedge funds and other institutional investors own 62.27% of the company’s stock.

Paccar Company Profile

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