Paccar (NASDAQ:PCAR)’s share price dropped 6.5% during trading on Tuesday . The company traded as low as $63.47 and last traded at $64.92. Approximately 5,575,544 shares were traded during mid-day trading, an increase of 103% from the average daily volume of 2,748,676 shares. The stock had previously closed at $69.41.
PCAR has been the topic of a number of recent analyst reports. Bank of America raised Paccar from a “neutral” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, January 2nd. Royal Bank of Canada reissued a “buy” rating and issued a $82.00 price target on shares of Paccar in a research note on Thursday, January 11th. Seaport Global Securities reissued a “neutral” rating on shares of Paccar in a research note on Tuesday, January 16th. Wells Fargo boosted their price target on Paccar from $75.00 to $80.00 and gave the company a “market perform” rating in a research note on Thursday, January 18th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $77.00 price target on shares of Paccar in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $74.40.
The firm has a market cap of $22,857.40, a P/E ratio of 15.05, a P/E/G 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 acquired 570 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was purchased at an average price of $69.05 per share, for a total transaction of $39,358.50. Following the completion of the acquisition, the vice president now directly owns 7,536 shares in the company, valued at approximately $520,360.80. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.64% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. NuWave Investment Management LLC bought a new stake in Paccar during the fourth quarter worth $160,000. Fuller & Thaler Asset Management Inc. bought a new stake in Paccar during the fourth quarter worth $171,000. Regentatlantic Capital LLC bought a new stake in Paccar during the fourth quarter worth $202,000. Checchi Capital Advisers LLC bought a new stake in Paccar during the fourth quarter worth $206,000. Finally, Two Sigma Securities LLC bought a new stake in Paccar during the fourth quarter worth $226,000. Institutional investors and hedge funds own 64.12% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This story was first published by Ticker Report and is owned by of Ticker Report. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.tickerreport.com/banking-finance/3392019/paccar-pcar-trading-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.