Paccar (NASDAQ:PCAR) shares fell 6.5% during trading on Tuesday . The company traded as low as $63.47 and last traded at $64.92. 5,575,544 shares changed hands during mid-day trading, an increase of 103% from the average session volume of 2,748,676 shares. The stock had previously closed at $69.41.
A number of brokerages recently commented on PCAR. Robert W. Baird decreased their price target on Paccar from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. BMO Capital Markets decreased their price target on Paccar from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Wells Fargo set a $70.00 price target on Paccar and gave the stock a “market perform” rating in a research report on Wednesday. Bank of America cut Paccar from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Wednesday. Finally, Credit Suisse Group decreased their price target on Paccar from $74.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company’s stock. Paccar has an average rating of “Hold” and a consensus price target of $74.40.
The stock has a market cap of $22,857.40, a PE ratio of 15.05, a PEG ratio of 1.22 and a beta of 1.23. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.24 and a quick ratio of 2.34.
In other news, VP Marco A. Davila purchased 570 shares of Paccar stock in a transaction dated Friday, February 16th. The shares were bought at an average cost of $69.05 per share, for a total transaction of $39,358.50. Following the completion of the acquisition, the vice president now owns 7,536 shares in the company, valued at approximately $520,360.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.64% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PCAR. Xact Kapitalforvaltning AB lifted its stake in shares of Paccar by 5.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 79,772 shares of the company’s stock worth $5,670,000 after acquiring an additional 3,967 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Paccar by 4,186.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 95,197 shares of the company’s stock worth $6,766,000 after acquiring an additional 92,976 shares during the period. J. Goldman & Co LP acquired a new position in shares of Paccar in the fourth quarter worth approximately $5,527,000. OLD Mutual Customised Solutions Proprietary Ltd. lifted its stake in shares of Paccar by 42.2% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 22,559 shares of the company’s stock worth $1,603,000 after acquiring an additional 6,700 shares during the period. Finally, Banco de Sabadell S.A acquired a new position in shares of Paccar in the fourth quarter worth approximately $1,269,000. Institutional investors own 64.12% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Paccar (PCAR) Stock Price Down 6.5%” was first published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece of content on another site, it was copied illegally and reposted in violation of US and international copyright and trademark law. The original version of this piece of content can be viewed at https://weekherald.com/2018/04/26/paccar-pcar-stock-price-down-6-5.html.
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.
Receive News & Ratings for Paccar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paccar and related companies with MarketBeat.com's FREE daily email newsletter.