RBC Capital Mkts: Downgrade Hits Shares of PACCAR (NASDAQ:PCAR)


PACCAR (NASDAQ:PCAR) Receives a Downgrade

Shares of PACCAR (NASDAQ:PCAR) were lowered to a “Sector Perform” rating by equity analysts at RBC Capital Mkts. They now have a target price of $57 on PCAR. The past rating by RBC Capital Mkts was a “Outperform” and will no longer be valid.

From a total of 12 analysts covering Paccar Inc (NASDAQ:PCAR) stock, 3 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 25% of the ratings are positive. The highest target price is $85 while the lowest target price is $46. The mean of all analyst targets is $63.89 with a 23.24% above today’s ($51.84) stock price. Paccar Inc was the topic of 19 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. Macquarie Research maintained shares on October 28 with “Outperform” rating. Piper Jaffray upgraded shares to “Overweight” rating and $68 target share price in a report from an August 26. UBS downgraded PCAR stock in a recent report from October 20 to “Neutral” rating. Zacks upgraded the rating on August 20. Zacks has a “Hold” rating and a $70 price target on shares. Finally, Stifel Nicolaus initiated the stock with “Hold” rating in a report issued on an October 6.

The stock increased 0.47% or $0.24 on November 27, striking $51.84. Approximately shares of stock traded hands. PACCAR Inc (NASDAQ:PCAR) has declined 22.03% since April 27, 2015 and is downtrending. It has underperformed by 21.14% the S&P500.

PACCAR Inc is a company operating in three principal industry divisions: the Truck segment, includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, includes finance and leasing services and products provided to clients and dealers in the United States, Canada, Mexico, Europe and Australia. The company has a market cap of $18.32 billion. The Firm also operates in Australia and Brazil, and sells trucks and parts to clients in Asia, Africa, Middle East and South America. It has 11.18 P/E ratio. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

According to Zacks Investment Research, “PACCAR Inc. is a global technology leader in the design, manufacture and customer support of high-quality light-, medium- and heavy-duty trucks under the Kenworth, Peterbilt, DAF and Foden nameplates. It also provides financial services and distributes truck parts related to its principal business. In addition, the Bellevue, Washington-based company manufactures industrial winches under the Braden, Gearmatic and Carco nameplates. (Company Press Release)” Get a free copy of the Zacks research report on PACCAR Inc (PCAR)