PACCAR (NASDAQ:PCAR) Coverage Initiated at Wells Fargo & Company

Equities research analysts at Wells Fargo & Company started coverage on shares of PACCAR (NASDAQ:PCAR) in a report issued on Thursday, MarketBeat Ratings reports. The brokerage set an “equal weight” rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Raymond James Financial reissued a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Monday, July 28th. UBS Group set a $103.00 target price on shares of PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. Weiss Ratings lowered shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Vertical Research raised shares of PACCAR to a “strong-buy” rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.54.

PACCAR Stock Performance

Shares of NASDAQ PCAR traded down $0.96 during midday trading on Thursday, hitting $95.59. 2,928,015 shares of the stock traded hands, compared to its average volume of 2,876,518. The firm has a market capitalization of $50.20 billion, a P/E ratio of 18.71, a PEG ratio of 4.11 and a beta of 0.95. PACCAR has a one year low of $84.65 and a one year high of $118.81. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.51 and a current ratio of 1.82. The firm has a 50-day moving average of $98.22 and a two-hundred day moving average of $96.64.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter last year, the company posted $1.85 EPS. The firm’s revenue was down 20.7% compared to the same quarter last year. On average, equities analysts forecast that PACCAR will post 7.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Several large investors have recently bought and sold shares of PCAR. Hazlett Burt & Watson Inc. lifted its position in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC lifted its holdings in shares of PACCAR by 2.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock valued at $366,000 after acquiring an additional 105 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of PACCAR by 3.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after acquiring an additional 108 shares during the last quarter. Intellectus Partners LLC grew its position in PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after acquiring an additional 109 shares in the last quarter. Finally, Matrix Trust Co increased its stake in PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock worth $290,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 64.90% of the company’s stock.

About PACCAR

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