PACCAR (PCAR) : Analyst Rating Update

PACCAR (PCAR) : 6 brokerage houses believe that PACCAR (PCAR) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on PACCAR (PCAR). Zacks Investment Research suggests a Hold with a rank of 3. 3 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 16 Wall Street Analysts endorse the stock as a Hold with a rating of 2.63.

PACCAR (PCAR) : The highest level PACCAR (PCAR) is projected to reach is $70 for the short term and the lowest estimate is at $30. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $54.69 and the possibility the share price can swing is $11.27.

PACCAR (NASDAQ:PCAR): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $50.16 and $49.35 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $50.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $50.79, notching a gain of 0.61% for the day. The total traded volume was 2,394,290 . The stock had closed at $50.48 on the previous day.

Also, JP Morgan downgrades its rating on PACCAR (NASDAQ:PCAR). The global brokerage major lowers the current price target from $58 per share to $47 per share. Analysts at the JP Morgan have a current rating of Underweight on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 27, 2016. The company shares have dropped -19.78% 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 $54.17 and the 200 Day Moving Average price is recorded at $52.44.

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.

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