PACCAR Inc (PCAR) Formed Wedge Down Pattern; Sellers Are Thriving

June 29, 2018 - By Bernice Betts

PACCAR Inc (NASDAQ:PCAR) Logo

Investors sentiment decreased to 1.14 in Q1 2018. Its down 0.26, from 1.4 in 2017Q4. It fall, 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.
Raymond James Fincl Advsrs reported 45,379 shares. Livforsakringsbolaget Skandia Omsesidigt has 5,287 shares for 0% of their portfolio. M&T Financial Bank accumulated 0.02% or 50,878 shares. Fiduciary Mngmt Inc Wi holds 4.84M shares. Tarbox Family Office Incorporated stated it has 0% of its portfolio in PACCAR Inc (NASDAQ:PCAR). Ibm Retirement Fund invested in 7,564 shares or 0.09% of the stock. Wilsey Asset Management Inc has invested 5.34% in PACCAR Inc (NASDAQ:PCAR). Northcoast Asset Limited Liability has 1.85% invested in PACCAR Inc (NASDAQ:PCAR). Freestone Cap Ltd Liability Corp holds 0.01% in PACCAR Inc (NASDAQ:PCAR) or 3,156 shares. Aperio Group Limited Liability Com accumulated 0.07% or 204,011 shares. Stifel reported 0.03% of its portfolio in PACCAR Inc (NASDAQ:PCAR). Mcdaniel Terry & reported 253,397 shares or 3.06% of all its holdings. Moreover, Victory Capital Mngmt has 0.45% invested in PACCAR Inc (NASDAQ:PCAR) for 3.14M shares. Headinvest Limited accumulated 18,564 shares or 0.39% of the stock. Alliancebernstein Ltd Partnership owns 901,802 shares or 0.04% of their US portfolio.

Since February 7, 2018, it had 2 buys, and 3 selling transactions for $2.09 million activity. 570 shares were bought by Davila Marco A., worth $39,356. 21 shares were bought by GRANDSTAFF DOUGLAS S, worth $1,482 on Wednesday, February 7. On Tuesday, May 15 DOZIER C MICHAEL sold $635,200 worth of PACCAR Inc (NASDAQ:PCAR) or 10,000 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 $503.08 million 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 has “Hold” rating by Susquehanna on Friday, March 9. As per Thursday, January 11, the company rating was maintained by RBC Capital Markets. On Thursday, January 18 the stock rating was maintained by Jefferies with “Buy”. The rating was maintained by BMO Capital Markets with “Buy” on Wednesday, April 25. The rating was downgraded by Bank of America on Wednesday, April 25 to “Hold”. The stock of PACCAR Inc (NASDAQ:PCAR) earned “Neutral” rating by Credit Suisse on Wednesday, January 31. Longbow upgraded the shares of PCAR in report on Tuesday, March 6 to “Buy” rating. The stock of PACCAR Inc (NASDAQ:PCAR) has “Hold” rating given on Wednesday, April 25 by Robert W. Baird. The stock has “Hold” rating by Robert W. Baird on Tuesday, April 17. Wells Fargo maintained it with “Hold” rating and $80.0 target in Thursday, January 18 report.

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

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.