Vertical Research Lowers PACCAR (PCAR) to Sell

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Vertical Research lowered shares of PACCAR (NASDAQ:PCAR) from a hold rating to a sell rating in a research note released on Monday morning, The Fly reports.

PCAR has been the topic of a number of other research reports. Zacks Investment Research cut shares of PACCAR from a buy rating to a hold rating in a report on Wednesday, December 5th. ValuEngine raised shares of PACCAR from a sell rating to a hold rating in a report on Friday, December 21st. Argus cut shares of PACCAR from a buy rating to a hold rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. BidaskClub raised shares of PACCAR from a hold rating to a buy rating in a research note on Friday, October 5th. Finally, Morgan Stanley set a $58.00 target price on shares of PACCAR and gave the company a sell rating in a research note on Wednesday, October 24th. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $68.16.

PACCAR stock opened at $59.16 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.44 and a current ratio of 2.63. PACCAR has a 1 year low of $53.43 and a 1 year high of $79.69. The stock has a market capitalization of $20.55 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.87 and a beta of 1.26.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.51 by $0.04. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period last year, the firm posted $1.14 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, research analysts expect that PACCAR will post 6.16 earnings per share for the current year.

The business also recently declared a dividend, which was paid on Friday, January 4th. Investors of record on Friday, December 14th were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Thursday, December 13th. PACCAR’s dividend payout ratio is currently 26.29%.

PACCAR announced that its board has approved a stock repurchase program on Tuesday, December 4th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

In other PACCAR news, VP David J. Danforth sold 651 shares of PACCAR stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the sale, the vice president now directly owns 5,453 shares in the company, valued at $324,126.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 194,004 shares of PACCAR stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the sale, the insider now owns 3,080,449 shares of the company’s stock, valued at $181,253,619.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,262 shares of company stock valued at $11,490,110. 2.64% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in PACCAR by 12.8% during the second quarter. Russell Investments Group Ltd. now owns 103,151 shares of the company’s stock worth $6,395,000 after buying an additional 11,669 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in PACCAR by 89.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 43,510 shares of the company’s stock worth $2,695,000 after buying an additional 20,602 shares in the last quarter. FMR LLC lifted its position in PACCAR by 8.8% during the 2nd quarter. FMR LLC now owns 4,794,270 shares of the company’s stock worth $297,053,000 after buying an additional 389,659 shares in the last quarter. AMP Capital Investors Ltd raised its holdings in PACCAR by 9.2% during the 2nd quarter. AMP Capital Investors Ltd now owns 157,032 shares of the company’s stock worth $9,730,000 after purchasing an additional 13,191 shares during the last quarter. Finally, BB&T Securities LLC raised its holdings in PACCAR by 30.4% during the 2nd quarter. BB&T Securities LLC now owns 12,173 shares of the company’s stock worth $754,000 after purchasing an additional 2,836 shares during the last quarter. 60.55% of the stock is currently owned by institutional investors.

PACCAR Company Profile

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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