Robert W. Baird Downgrades PACCAR to ‘Neutral’
By Gabriel KaneUpdated
Price movement
PACCAR (PCAR) has a market cap of $23.1 billion. It rose 2.2% to close at $65.32 per share on January 3, 2017. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -0.17%, 4.6%, and 2.2%, respectively, on the same day.
PCAR is trading 0.10% below its 20-day moving average, 7.7% above its 50-day moving average, and 15.4% above its 200-day moving average.
Related ETF and peers
The First Trust Nasdaq-100 Ex-Technology Sector Index ETF (QQXT) invests 1.6% of its holdings in PACCAR. The YTD price movement of QQXT was 1.3% on January 3.
The market caps of PACCAR’s competitors are as follows:
PCAR’s rating
On January 3, 2017, Robert W. Baird downgraded PACCAR’s rating from “outperform” to “neutral.” It set the stock’s price target at $62.00 from $60.00 per share.
Performance of PACCAR in fiscal 3Q16
PACCAR (PCAR) reported 3Q16 Truck, Parts, and Other net sales and revenues of $4.0 billion, a fall of 13.0% compared to $4.5 billion in 3Q15.
Revenue of Financial Services fell to $296.2 million in 3Q16, a fall of 1.6% compared to 3Q15. Its net income and EPS (earnings per share) fell to $346.2 million and $0.98, respectively, in 3Q16 compared to $431.2 million and $1.21, respectively, in 3Q15.
PACCAR’s cash and marketable debt securities fell 17.1%, and its inventories rose 3.5% between 4Q15 and 3Q16.
