PACCAR (PCAR) Hits New 52-Week Low at $59.70

PACCAR Inc (NASDAQ:PCAR)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $59.70 and last traded at $60.34, with a volume of 133520 shares traded. The stock had previously closed at $61.74.

A number of equities analysts have commented on PCAR shares. ValuEngine downgraded shares of PACCAR from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 4th. BidaskClub upgraded shares of PACCAR from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 26th. Robert W. Baird downgraded shares of PACCAR from a “neutral” rating to an “underperform” rating in a research note on Monday, July 2nd. Citigroup upped their target price on shares of PACCAR from $65.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Finally, Wolfe Research downgraded shares of PACCAR from a “peer perform” rating to an “underperform” rating in a research note on Friday, October 5th. Five analysts have rated the stock with a sell rating, eighteen have given a hold rating and five have given a buy rating to the stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $71.52.

The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.34 and a current ratio of 2.52. The company has a market cap of $23.90 billion, a PE ratio of 14.29, a P/E/G ratio of 1.05 and a beta of 1.25.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.16. PACCAR had a net margin of 9.39% and a return on equity of 22.68%. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm earned $1.06 earnings per share. The company’s quarterly revenue was up 24.3% on a year-over-year basis. As a group, equities analysts expect that PACCAR Inc will post 6.03 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, November 9th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.86%. PACCAR’s dividend payout ratio is presently 26.29%.

PACCAR declared that its board has initiated a share buyback plan on Monday, July 9th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In other news, VP David J. Danforth sold 3,304 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $65.57, for a total transaction of $216,643.28. Following the transaction, the vice president now directly owns 7,878 shares in the company, valued at $516,560.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Douglas S. Grandstaff sold 580 shares of the stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $65.90, for a total transaction of $38,222.00. Following the transaction, the vice president now owns 5,891 shares in the company, valued at $388,216.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,634 shares of company stock worth $625,510. Insiders own 2.64% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC lifted its position in PACCAR by 30.6% during the second quarter. Flinton Capital Management LLC now owns 56,976 shares of the company’s stock valued at $3,530,000 after acquiring an additional 13,360 shares during the last quarter. Standard Life Aberdeen plc lifted its position in PACCAR by 17.9% during the second quarter. Standard Life Aberdeen plc now owns 127,423 shares of the company’s stock valued at $7,896,000 after acquiring an additional 19,376 shares during the last quarter. Garde Capital Inc. lifted its position in PACCAR by 6.0% during the second quarter. Garde Capital Inc. now owns 13,275 shares of the company’s stock valued at $823,000 after acquiring an additional 750 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in PACCAR during the second quarter valued at approximately $9,769,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in PACCAR by 2.5% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 132,924 shares of the company’s stock valued at $8,237,000 after acquiring an additional 3,194 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.

About PACCAR (NASDAQ:PCAR)

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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