PACCAR (NASDAQ:PCAR) has tumbled 0.95% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 1.84% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.24% and the outperformance has advanced to 0.91% for the last 4 weeks period.
PACCAR (NASDAQ:PCAR): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $54.30 and $54.09 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $55.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $54.37, notching a gain of 0.30% for the day. The total traded volume was 3,482,368 . The stock had closed at $54.21 on the previous day.
The company shares have dropped -16.03% from its 1 Year high price. On Jul 28, 2015, the shares registered one year high at $66.43 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $55.78 and the 200 Day Moving Average price is recorded at $52.03.
On the companys insider trading activities, Christensen Robert J., CFO of Paccar Inc, executed a transaction worth $47,128 on May 4, 2016. A total of 849 shares were purchased at an average price of $55.51. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Many analysts have stated their opinion on the company shares. Major Brokerage house, Goldman Sachs downgrades its ratings on PACCAR (NASDAQ:PCAR). In the latest research report, Goldman Sachs lowers the target price from $67 per share to $63 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 3, 2016. Currently the company Insiders own 2.62% of PACCAR shares according to the proxy statements. Institutional Investors own 64.36% of PACCAR shares.
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.