PACCAR (NASDAQ:PCAR) Shares Gap Down - What's Next?

PACCAR Inc (NASDAQ:PCAR - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $109.61, but opened at $106.22. PACCAR shares last traded at $103.43, with a volume of 730,219 shares trading hands.

Analysts Set New Price Targets

PCAR has been the topic of a number of recent analyst reports. BNP Paribas upgraded PACCAR to a "hold" rating in a research report on Wednesday, October 16th. Raymond James started coverage on PACCAR in a research report on Friday, June 28th. They set a "market perform" rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on PACCAR from $121.00 to $109.00 and set a "buy" rating on the stock in a report on Wednesday, July 24th. StockNews.com upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Wednesday, July 24th. Finally, Evercore ISI decreased their price objective on PACCAR from $109.00 to $99.00 and set an "in-line" rating on the stock in a report on Monday, August 19th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, PACCAR presently has an average rating of "Hold" and an average price target of $114.00.

PACCAR Stock Performance

The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The firm has a fifty day moving average price of $98.78 and a 200 day moving average price of $103.41. The firm has a market cap of $54.93 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion for the quarter, compared to analysts' expectations of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm's revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.33 EPS. As a group, equities research analysts expect that PACCAR Inc will post 8.08 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, November 13th. PACCAR's payout ratio is 12.71%.

Insider Buying and Selling

In related news, CEO R Preston Feight sold 27,834 shares of the firm's stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company's stock, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently bought and sold shares of the company. Capital International Investors grew its position in shares of PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company's stock worth $490,967,000 after buying an additional 1,225,468 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of PACCAR during the second quarter worth about $88,437,000. Dorsey & Whitney Trust CO LLC grew its position in shares of PACCAR by 3,636.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 546,417 shares of the company's stock worth $67,696,000 after buying an additional 531,794 shares in the last quarter. TD Asset Management Inc grew its position in shares of PACCAR by 24.3% during the first quarter. TD Asset Management Inc now owns 2,576,627 shares of the company's stock worth $319,218,000 after buying an additional 504,346 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PACCAR during the second quarter worth about $51,277,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

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.