Stock On Watch: What Next for PACCAR Inc Stock After Touching 52-Week High?

Stock On Watch: What Next for PACCAR Inc Stock After Touching 52 Week High?

The stock of PACCAR Inc (NASDAQ:PCAR) hit a new 52-week high and has $66.40 target or 7.00% above today’s $62.06 share price. The 5 months bullish chart indicates low risk for the $21.97 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $66.40 price target is reached, the company will be worth $1.54 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 976,846 shares traded hands. PACCAR Inc (NASDAQ:PCAR) has risen 8.66% since April 21, 2016 and is uptrending. It has outperformed by 3.33% the S&P500.

Analysts await PACCAR Inc (NASDAQ:PCAR) to report earnings on February, 3. They expect $0.87 EPS, down 11.22% or $0.11 from last year’s $0.98 per share. PCAR’s profit will be $307.99M for 17.83 P/E if the $0.87 EPS becomes a reality. After $0.98 actual EPS reported by PACCAR Inc for the previous quarter, Wall Street now forecasts -11.22% negative EPS growth.

PACCAR Inc (NASDAQ:PCAR) Ratings Coverage

Out of 19 analysts covering Paccar Inc (NASDAQ:PCAR), 5 rate it a “Buy”, 3 “Sell”, while 11 “Hold”. This means 26% are positive. Paccar Inc has been the topic of 40 analyst reports since July 30, 2015 according to StockzIntelligence Inc. As per Thursday, August 20, the company rating was upgraded by Zacks. Deutsche Bank initiated it with “Hold” rating and $63 target price in Wednesday, September 7 report. The firm has “Underweight” rating given on Wednesday, October 12 by Barclays Capital. On Tuesday, October 20 the stock rating was downgraded by UBS to “Neutral”. The firm has “Buy” rating given on Monday, May 9 by Bank of America. Goldman Sachs downgraded the shares of PCAR in a report on Friday, June 3 to “Neutral” rating. Barclays Capital initiated it with “Underweight” rating and $48 target price in Friday, September 25 report. Robert W. Baird downgraded the shares of PCAR in a report on Monday, January 4 to “Neutral” rating. The firm has “Underperform” rating by Longbow given on Tuesday, July 19. Morgan Stanley downgraded the shares of PCAR in a report on Friday, July 31 to “Equal Weight” rating.

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)”

Insitutional Activity: The institutional sentiment decreased to 1.06 in Q2 2016. Its down 0.06, from 1.12 in 2016Q1. The ratio dropped, as 39 funds sold all PACCAR Inc shares owned while 147 reduced positions. 50 funds bought stakes while 158 increased positions. They now own 212.86 million shares or 4.21% less from 222.22 million shares in 2016Q1.
Madrona Svcs Ltd Liability last reported 0.3% of its portfolio in the stock. The Iowa-based Miles Cap has invested 0.63% in PACCAR Inc (NASDAQ:PCAR). First Interstate Savings Bank holds 0.02% or 2,030 shares in its portfolio. Gamco Investors Et Al has 0.03% invested in the company for 91,300 shares. Da Davidson & Com accumulated 0.21% or 134,563 shares. Cleararc holds 8,530 shares or 0.09% of its portfolio. Aperio Gp Lc last reported 189,513 shares in the company. Dreman Value Mgmt L L C accumulated 0.47% or 14,690 shares. Zebra Mgmt Limited Liability Company accumulated 0.51% or 28,080 shares. Arizona State Retirement has 0.06% invested in the company for 85,920 shares. Edge Asset Mngmt reported 2.06 million shares or 0.95% of all its holdings. Ridgeworth Mngmt Ltd Limited Liability Company owns 2,681 shares or 0% of their US portfolio. California Public Employees Retirement has 865,507 shares for 0.07% of their US portfolio. Morgan Stanley holds 0.02% or 920,938 shares in its portfolio. Security last reported 638 shares in the company.

Insider Transactions: Since November 3, 2016, the stock had 0 insider purchases, and 7 sales for $9.94 million net activity. Davila Marco A. sold $633,830 worth of stock or 10,520 shares. $224,421 worth of PACCAR Inc (NASDAQ:PCAR) shares were sold by DOZIER C MICHAEL. SIVER DARRIN C sold $135,985 worth of PACCAR Inc (NASDAQ:PCAR) on Friday, November 11. 36,008 shares with value of $2.16 million were sold by Christensen Robert J. on Thursday, November 10. Another trade for 6,546 shares valued at $389,186 was made by Moore Gary Lee on Thursday, November 10. $165,708 worth of PACCAR Inc (NASDAQ:PCAR) was sold by Quinn T. Kyle. PIGOTT MARK C sold $6.23M worth of stock or 112,266 shares.

More news for PACCAR Inc (NASDAQ:PCAR) were recently published by: Nasdaq.com, which released: “PACCAR Inc. (PCAR) Ex-Dividend Date Scheduled for November 16, 2016” on November 15, 2016. Nasdaq.com‘s article titled: “Paccar Inc. Q3 Earnings Fall 20%” and published on October 25, 2016 is yet another important article.

PCAR Company Profile

PACCAR Inc (PACCAR), incorporated on November 19, 1971, is a global technology firm engaged in the design, manufacture and customer support of trucks. The Firm operates in three divisions: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to clients and dealers. PACCAR’s other businesses include a division of the company, which makes industrial winches in over two the United States plants and markets them under the Braden, Carco and Gearmatic nameplates.

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