How Analysts Feel About PACCAR Inc (PCAR) After Forming Wedge Down Pattern?

June 29, 2018 - By Betty Noble

PACCAR Inc (NASDAQ:PCAR) Logo

Investors sentiment decreased to 1.14 in Q1 2018. Its down 0.26, from 1.4 in 2017Q4. It dived, as 48 investors sold PACCAR Inc shares while 155 reduced holdings. 69 funds opened positions while 162 raised stakes. 214.22 million shares or 0.22% less from 214.70 million shares in 2017Q4 were reported.
X Communications Ltd Limited Liability Company reported 0.01% of its portfolio in PACCAR Inc (NASDAQ:PCAR). London Of Virginia holds 2.85 million shares. Mengis Cap Mngmt has invested 0.16% in PACCAR Inc (NASDAQ:PCAR). Tradewinds Ltd reported 18,063 shares or 0.54% of all its holdings. Mitsubishi Ufj Tru & invested in 0.09% or 800,571 shares. 10,461 are held by Conning Inc. Nomura Holding has 0% invested in PACCAR Inc (NASDAQ:PCAR). Natl Bank Of Mellon Corporation invested 0.1% in PACCAR Inc (NASDAQ:PCAR). First Foundation Advsr has 4,022 shares. Texas Yale Cap holds 0.48% or 84,602 shares. Bnp Paribas Arbitrage Sa has invested 0% in PACCAR Inc (NASDAQ:PCAR). Commonwealth Of Pennsylvania School Empls Retrmt owns 31,496 shares. Quantitative Systematic Strategies Ltd Liability Company accumulated 0.06% or 4,186 shares. Hanson Mcclain stated it has 0% in PACCAR Inc (NASDAQ:PCAR). Moreover, Element Cap Management Limited Liability Corp has 0.15% invested in PACCAR Inc (NASDAQ:PCAR).

Since February 7, 2018, it had 2 insider purchases, and 3 selling transactions for $2.09 million activity. 9,964 shares valued at $644,550 were sold by Quinn T. Kyle on Friday, May 4. Davila Marco A. bought $39,356 worth of stock. DOZIER C MICHAEL sold $846,903 worth of stock or 13,348 shares.

The stock of PACCAR Inc (PCAR) formed a down wedge with $60.66 target or 3.00 % below today’s $62.54 share price. The 5 months wedge indicates high risk for the $22.00 billion company. If the $60.66 price target is reached, the company will be worth $660.06 million less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock increased 0.81% or $0.5 during the last trading session, reaching $62.54. About 469,637 shares traded. PACCAR Inc (NASDAQ:PCAR) has risen 6.67% since June 29, 2017 and is uptrending. It has underperformed by 5.90% the S&P500.

Analysts await PACCAR Inc (NASDAQ:PCAR) to report earnings on July, 24. They expect $1.43 earnings per share, up 34.91 % or $0.37 from last year’s $1.06 per share. PCAR’s profit will be $503.08M for 10.93 P/E if the $1.43 EPS becomes a reality. After $1.45 actual earnings per share reported by PACCAR Inc for the previous quarter, Wall Street now forecasts -1.38 % negative EPS growth.

PACCAR Inc (NASDAQ:PCAR) Ratings Coverage

Among 17 analysts covering PACCAR (NASDAQ:PCAR), 4 have Buy rating, 2 Sell and 11 Hold. Therefore 24% are positive. PACCAR had 27 analyst reports since January 2, 2018 according to SRatingsIntel. The stock of PACCAR Inc (NASDAQ:PCAR) earned “Neutral” rating by Credit Suisse on Wednesday, January 31. The rating was maintained by JP Morgan on Tuesday, April 10 with “Neutral”. Buckingham Research maintained the stock with “Neutral” rating in Wednesday, January 31 report. The stock of PACCAR Inc (NASDAQ:PCAR) earned “Buy” rating by Jefferies on Thursday, January 18. On Wednesday, April 25 the stock rating was maintained by Wells Fargo with “Hold”. The stock has “Buy” rating by RBC Capital Markets on Thursday, January 11. The rating was maintained by RBC Capital Markets on Tuesday, April 17 with “Buy”. The stock of PACCAR Inc (NASDAQ:PCAR) earned “Neutral” rating by UBS on Wednesday, May 2. The stock of PACCAR Inc (NASDAQ:PCAR) earned “Buy” rating by Longbow on Tuesday, March 6. The firm has “Buy” rating by Macquarie Research given on Tuesday, June 5.

More recent PACCAR Inc (NASDAQ:PCAR) news were published by: Globenewswire.com which released: “Market Trends Toward New Normal in PACCAR, Annaly Capital Management, Brown Forman, Nutanix, Halliburton …” on June 25, 2018. Also Investorplace.com published the news titled: “5 Cheap Large Cap Stocks to Buy Now” on June 28, 2018. Streetinsider.com‘s news article titled: “Mizuho Securities Starts PACCAR (PCAR) at Neutral” with publication date: June 28, 2018 was also an interesting one.

PACCAR Inc, together with its subsidiaries, designs, makes, and distributes light, medium, and heavy-duty commercial trucks worldwide. The company has market cap of $22.00 billion. It operates in three divisions: Truck, Parts, and Financial Services. It has a 11.76 P/E ratio. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

PACCAR Inc (NASDAQ:PCAR) Institutional Positions Chart

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