Analysis: Paccar Inc (NASDAQ:PCAR) Price Target Upgraded Today
In analysts report revealed to investors by JP Morgan on Friday, 11 December, the firm, Paccar Inc (NASDAQ:PCAR), had their price target cut to $50.00. Analusts right now have a solid Neutral rating on the stock.
From a total of 22 analysts covering Paccar Inc (NASDAQ:PCAR) stock, 8 rate it a ”Buy”, 1 a “Sell”, and 18 a ”Hold”. This means that 30% of the ratings are positive. The highest target price is $85 while the lowest target price is $45. The mean of all analyst targets is $57.91 with a 33.76% above today’s ($47.18) stock price. Paccar Inc was the topic of 20 analyst reports since July 30, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets downgraded shares on November 30 to “Sector Perform” 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.
Approximately 1.25 million shares of stock traded hands. PACCAR Inc (NASDAQ:PCAR) has declined 26.49% since May 8, 2015 and is downtrending. It has underperformed by 23.47% the S&P500.
The overall sentiment of institutions has increased to 1.26 in Q2 2015. Its up 0.17, from 1.09 in 2015Q2. The ratio is positive, as 50 institutions have sold all the shares of PACCAR Inc that they owned while 161 funds have taken shares off the table. 73 funds have purchased shares for the first time while 193 added to their positions. These institutions now hold 198.31 million shares or 9.40% less than the 218.89 million shares they owned in 2015Q2.
The Fund Washington Trust Bank currently is holding shares equating to 24.99% of its total portfolio in PACCAR Inc representing a total of 1.80 million shares. Another fund,Thompson Rubinstein Investment Management Inc Or, is holding a total of 282,971 shares equating to 6.56% of their holdings. Additionally, First Washington Corp has a 164,657 share stake in PACCAR Inc which represents 5.19% of their total portfolio. The Fund, Dudley & Shanley Llc, based out of Florida, has also built up a stake in the stock, which represents a total of 5.01% of their total portfolio. Finally Valueworks Llc, a fund which is based in the state of New York reported a total holdings of 112,865 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of PACCAR Inc have witnessed 0 insider buys, and a total of 3 sales equating to a net activity of approximately $4.53 million . Moore Gary Lee sold 7,357 shares worth approximately $476,450. Anderson David C sold 10,786 shares worth approximately $697,246. Christensen Robert J. sold 51,970 shares worth approximately $3.36M. Barkley Michael T sold 10,000 shares worth approximately $668,185. The company insider Quinn T. Kyle sold 3,892 shares worth $258,584.
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 $17.26 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 10.17 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).