PACCAR (NASDAQ:PCAR) : The highest level PACCAR (NASDAQ:PCAR) is projected to reach is $70 for the short term and the lowest estimate is at $30. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $54.69 and the possibility the share price can swing is $11.27.
PACCAR Inc. has lost 7.95% in the last five trading days and dropped 6.83% in the last 4 weeks. PACCAR Inc. has dropped 3.91% during the last 3-month period . Year-to-Date the stock performance stands at 10.42%. Also, Goldman Sachs downgrades its view on PACCAR (NASDAQ:PCAR) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. Goldman Sachs lowers the price target from $67 per share to $63 per share on PACCAR . The rating by the firm was issued on June 3, 2016.
PACCAR (NASDAQ:PCAR) : 16 analysts are covering PACCAR (NASDAQ:PCAR) and their average rating on the stock is 2.63, which is read as a Hold. 6 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 3 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
PACCAR (NASDAQ:PCAR): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $50.96 and $50.40 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $51.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $51.87, notching a gain of 2.43% for the day. The total traded volume was 3,069,216 . The stock had closed at $50.64 on the previous day.
In an insider trading activity, Christensen Robert J., CFO of Paccar Inc had purchased 849 shares on May 4, 2016 in a transaction. The price per share was $55.51 and the total amount of the disclosed transaction was $47,128.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.
PACCAR Inc is a company operating in three principal industry segments: the Truck segment, includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, includes finance and leasing products and services provided to customers and dealers in the United States, Canada, Mexico, Europe and Australia. The Company also operates in Australia and Brazil, and sells trucks and parts to customers in Asia, Africa, Middle East and South America. The Companys trucks are marketed under the Kenworth, Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.