Stock of The Day: Time to Reconsider PACCAR Inc After Touching 52-Week High?

Stock of The Day: Time to Reconsider PACCAR Inc After Touching 52 Week High?

The stock of PACCAR Inc (NASDAQ:PCAR) hit a new 52-week high and has $66.82 target or 6.00% above today’s $63.04 share price. The 7 months bullish chart indicates low risk for the $22.42B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $66.82 price target is reached, the company will be worth $1.35 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. The stock increased 1.43% or $0.89 during the last trading session, hitting $63.04. About 2.12 million shares traded hands or 0.47% up from the average. PACCAR Inc (NASDAQ:PCAR) has risen 4.31% since April 28, 2016 and is uptrending. It has underperformed by 1.61% the S&P500.

Analysts await PACCAR Inc (NASDAQ:PCAR) to report earnings on February, 3. They expect $0.87 earnings per share, down 11.22% or $0.11 from last year’s $0.98 per share. PCAR’s profit will be $309.41 million for 18.11 P/E if the $0.87 EPS becomes a reality. After $0.98 actual earnings per share 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. RBC Capital Markets maintained the shares of PCAR in a report on Wednesday, October 28 with “Outperform” rating. The company was downgraded on Monday, August 31 by Zacks. The rating was downgraded by Citigroup on Monday, January 25 to “Neutral”. The rating was downgraded by Zacks to “Buy” on Tuesday, August 25. The rating was downgraded by JP Morgan on Friday, October 9 to “Neutral”. RBC Capital Markets downgraded the stock to “Sector Perform” rating in Monday, November 30 report. The company was upgraded on Thursday, August 20 by Zacks. The firm has “Neutral” rating given on Monday, March 14 by JP Morgan. As per Tuesday, October 6, the company rating was initiated by Stifel Nicolaus. The rating was maintained by Deutsche Bank on Wednesday, October 26 with “Hold”.

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 2016 Q2. Its down 0.06, from 1.12 in 2016Q1. The ratio is negative, 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.
Biltmore Wealth Mgmt Limited Company has invested 0.53% of its portfolio in PACCAR Inc (NASDAQ:PCAR). Coldstream Cap Mngmt Inc has 16,382 shares for 0.15% of their US portfolio. Longer Invs accumulated 1.67% or 29,225 shares. Eagle Glob Ltd has invested 0.02% of its portfolio in PACCAR Inc (NASDAQ:PCAR). Nippon Life Ins Communications last reported 0.03% of its portfolio in the stock. Macquarie Grp Inc Ltd last reported 16,700 shares in the company. Adage Cap Prtn Gru Limited Company last reported 0.1% of its portfolio in the stock. Gamco Invsts Incorporated Et Al accumulated 91,300 shares or 0.03% of the stock. Diam Limited holds 0.03% or 33,525 shares in its portfolio. Fjarde Ap holds 0.1% or 84,444 shares in its portfolio. First Allied Advisory reported 13,583 shares or 0.04% of all its holdings. Clearbridge Limited Liability Corporation holds 1.13M shares or 1.17% of its portfolio. Nomura Asset Limited last reported 47,339 shares in the company. Salem Cap Mgmt Inc accumulated 2.67% or 89,423 shares. Pictet National Bank & Trust & Tru Limited last reported 5,500 shares in the company.

Insider Transactions: Since November 3, 2016, the stock had 0 insider buys, and 7 selling transactions for $9.94 million net activity. Moore Gary Lee also sold $389,186 worth of PACCAR Inc (NASDAQ:PCAR) on Thursday, November 10. On Friday, November 11 the insider Davila Marco A. sold $633,830. $165,708 worth of PACCAR Inc (NASDAQ:PCAR) was sold by Quinn T. Kyle on Thursday, November 3. Christensen Robert J. sold 36,008 shares worth $2.16 million. Shares for $135,985 were sold by SIVER DARRIN C on Friday, November 11. The insider DOZIER C MICHAEL sold 4,032 shares worth $224,421. $6.23M worth of PACCAR Inc (NASDAQ:PCAR) was sold by PIGOTT MARK C.

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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