Macquarie Downgrades PACCAR Inc to Neutral

Brokerage firm Macquarie Downgrades its rating on PACCAR Inc(NASDAQ:PCAR). The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Macquarie was issued on Apr 11, 2016.

In a different note, On Mar 14, 2016, JP Morgan said it Maintains its rating on PACCAR Inc. In the research note, the firm Lowers the price-target to $56.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 1, 2016, Macquarie said it Maintains its rating on PACCAR Inc. In the research note, the firm Lowers the price-target to $61.00 per share. The shares have been rated ‘Outperform’ by the firm. On Jan 25, 2016, Citigroup said it Upgrades its rating on PACCAR Inc. The shares have been rated ‘Buy’ by the firm. On Jan 19, 2016, Barclays said it Maintains its rating on PACCAR Inc. According to the research note, Barclays Lowers the price target to $42 per share from a prior target of $46. The shares have been rated ‘Underweight’ by the firm.

PACCAR Inc (PCAR) shares turned negative on Fridays trading session with the shares closing down -0.03 points or -0.05% at a volume of 15,48,670. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $56.08. The peak price level was also seen at $56.08 while the days lowest was $55.64. Finally the shares closed at $55.78. The 52-week high of the shares is $68.44 while the 52-week low is $43.46. According to the latest information available, the market cap of the company is $19,607 M.

PACCAR Inc(PCAR) last announced its earnings results on Jan 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $4.36B. Analysts had an estimated revenue of $4.30B. Earnings per share were $0.98. Analysts had estimated an EPS of $1.04.

Several Insider Transactions has been reported to the SEC. On Feb 22, 2016, Darrin C Siver (VICE PRESIDENT) sold 2,505 shares at $50.55 per share price.Also, On Feb 17, 2016, David C Anderson (Vice President/General Counsel) sold 12,586 shares at $50.87 per share price.On Nov 10, 2015, Mark C Pigott (Executive Chairman) sold 73,671 shares at $52.23 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

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