PACCAR (PCAR) : Money flow in the PACCAR (PCAR) stock was negative (0.63 million) on Wednesday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $1.73 million, compared to $2.36 million on downticks. The total uptick to downtick ratio was 0.73, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($0.61 million), indicating selling on the strength. The transaction value during uptick in block trades was $1 million. Downtick transaction value in block trades amounted to $1.61 million, indicating persistent selling. The uptick to downtick ratio was 0.62. PACCAR (PCAR) traded $0.28 higher at $53.93 gaining 0.52% over the previous days close.
Also, Equity Analysts at the Brokerage Firm, JP Morgan, downgrades their rating on the shares of PACCAR (NASDAQ:PCAR). JP Morgan has a Underweight rating on the shares. Previously, the analysts had a Neutral rating on the shares. As per the latest research report, the brokerage house lowers the price target to $47 per share from a prior target of $58. The rating by the firm was issued on June 27, 2016.
PACCAR (NASDAQ:PCAR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $53.83 and $53.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $55.26. The buying momentum continued till the end and the stock did not give up its gains. It closed at $54.97, notching a gain of 2.46% for the day. The total traded volume was 2,873,772 . The stock had closed at $53.65 on the previous day.
The stock has recorded a 20-day Moving Average of 4.5% and the 50-Day Moving Average is 1.36%. In a related news, Christensen Robert J., CFO of Paccar Inc, had purchased 849 shares on May 4, 2016. The total value of the transaction was $47,128. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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.