Over a week ago
Recommendations
Credit Suisse analyst…
Credit Suisse analyst Jamie Cook raised the firm's price target on Paccar to $87 from $72 and keeps a Neutral rating on the shares. The analyst notes that the company reported a strong earnings beat and looking ahead to the third quarter, Paccar expects production to be up sequentially, although not quantified, with Q3 deliveries more comparable to Q1 levels.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 07/22/20 JPMorgan Paccar price target raised to $92 from $80 at JPMorgan 07/22/20 Deutsche Bank Paccar price target raised to $108 from $95 at Deutsche Bank 07/20/20 Wells Fargo Paccar price target raised to $92 from $80 at Wells Fargo 07/16/20 OTR Global Paccar upgraded to Mixed from Negative at OTR Global 07/21/20 Paccar reports Q2 EPS 43c, consensus 31c 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Recommendations
JPMorgan analyst Ann…
JPMorgan analyst Ann Duignan raised the firm's price target on Paccar to $92 from $80 and keeps an Overweight rating on the shares following the company's Q2 results. Improving truck volumes and parts sales will support gross margins going forward, Duignan tells investors in a research note.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 07/22/20 Deutsche Bank Paccar price target raised to $108 from $95 at Deutsche Bank 07/20/20 Wells Fargo Paccar price target raised to $92 from $80 at Wells Fargo 07/16/20 OTR Global Paccar upgraded to Mixed from Negative at OTR Global 07/01/20 JPMorgan Paccar price target raised to $80 from $77 at JPMorgan 07/21/20 Paccar reports Q2 EPS 43c, consensus 31c 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Recommendations
Deutsche Bank analyst…
Deutsche Bank analyst Nicole DeBlase raised the firm's price target on Paccar to $108 from $95 and keeps a Buy rating on the shares. The analyst sees "upward momentum" to consensus earnings forecasts following the company's Q2 beat.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 07/20/20 Wells Fargo Paccar price target raised to $92 from $80 at Wells Fargo 07/16/20 OTR Global Paccar upgraded to Mixed from Negative at OTR Global 07/01/20 JPMorgan Paccar price target raised to $80 from $77 at JPMorgan 07/01/20 Deutsche Bank Paccar resumed with a Buy at Deutsche Bank 07/21/20 Paccar reports Q2 EPS 43c, consensus 31c 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Earnings
Reports Q2 revenue…
Reports Q2 revenue $3.06B, consensus $2.88B. "PACCAR achieved good quarterly revenues and net income in the second quarter of 2020," said Preston Feight, CEO. "PACCAR closed its factories for five weeks at the beginning of the quarter and has gradually resumed production while enhancing operating processes and procedures for employee health and well-being, manufacturing efficiency and customer satisfaction. I am very proud of our outstanding employees who delivered excellent production and distribution performance while enhancing PACCAR's rigorous health and safety standards."
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 07/20/20 Wells Fargo Paccar price target raised to $92 from $80 at Wells Fargo 07/16/20 OTR Global Paccar upgraded to Mixed from Negative at OTR Global 07/01/20 JPMorgan Paccar price target raised to $80 from $77 at JPMorgan 07/01/20 Deutsche Bank Paccar resumed with a Buy at Deutsche Bank 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Recommendations
Wells Fargo analyst…
Wells Fargo analyst Andrew Casey raised the firm's price target on Paccar to $92 from $80 ahead of quarterly results. The analyst keeps an Overweight rating on the shares on potential cyclical end market growth and cycle-to-cycle return improvement.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 07/16/20 OTR Global Paccar upgraded to Mixed from Negative at OTR Global 07/01/20 JPMorgan Paccar price target raised to $80 from $77 at JPMorgan 07/01/20 Deutsche Bank Paccar resumed with a Buy at Deutsche Bank 06/17/20 JPMorgan North America Class 8 retail sales down 61% in May, says JPMorgan 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Over a month ago
Recommendations
JPMorgan analyst Ann…
JPMorgan analyst Ann Duignan raised the firm's price target on Paccar (PCAR) to $80 from $77 and keeps an Overweight rating on the shares. The California Air Resources Board last week approved the first statewide zero-emission commercial truck requirement, the Advanced Clean Trucks rule, Duignan tells investors in a research note. By 2045, every new truck sold in California will have to be zero-emission, adds the analyst. Paccar and Cummins (CMI) are positioned as winners while Allison Transmission (ALSN) stands to lose most as it faces increasing demand headwinds for its core products and growing competition for its alternative drivetrain solutions, says Duignan.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 $173.46 / +0.545 (+0.32%)
06/30/20 Cummins announces legal actions against Turbo Lab for patent infringement 06/23/20 Cummins announces agreement to form joint venture with Nproxx ALSN Allison Transmission 04/29/20 Allison Transmission awarded $162M contract 07/01/20 Deutsche Bank Paccar resumed with a Buy at Deutsche Bank 06/17/20 JPMorgan North America Class 8 retail sales down 61% in May, says JPMorgan 05/12/20 Piper Sandler Paccar downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Longbow Navistar likely to beat near-term expectations, says Longbow $173.46 / +0.545 (+0.32%)
07/01/20 JPMorgan Cummins price target raised to $171 from $145 at JPMorgan 07/01/20 Deutsche Bank Cummins resumed with a Hold at Deutsche Bank 05/12/20 Piper Sandler Cummins downgraded to Neutral from Overweight at Piper Sandler ALSN Allison Transmission 07/01/20 BofA BofA makes 14 additions, four deletions from US 1 list 04/20/20 Citi Allison Transmission downgraded to Neutral from Buy at Citi 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open $173.46 / +0.545 (+0.32%)
04/28/20 Cummins reports Q1 ex-items EPS $3.18, consensus $2.16 04/27/20 Notable companies reporting before tomorrow's open 02/04/20 Cummins sees FY20 revenue down 8%-12% ALSN Allison Transmission 05/04/20 Allison Transmission can't provide FY20 outlook at this time 05/04/20 Allison Transmission reports Q1 EPS $1.20, consensus $1.00 05/04/20 Notable companies reporting after market close 03/27/20 Allison Transmission withdraws FY20 guidance $173.46 / +0.545 (+0.32%)
02/29/20 Yum China, Wynn among those with most direct exposure to China, Barron's says 01/24/20 VW struggles with sale of MAN Energy Solutions unit, Bloomberg says 04/01/20 Fly Intel: After-Hours Movers
Initiation
Deutsche Bank analyst…
Deutsche Bank analyst Nicole DeBlase resumed coverage of Paccar with a Buy rating and $91 price target. The analyst resumed coverage of the U.S. Machinery industry with Buy ratings on four and Hold ratings on five. At this point in the cycle, Deblase does not see "significant alpha generation opportunity" through outright Sell ratings within this group.
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06/24/20 EU commercial vehicle registrations down 44.4% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 06/17/20 JPMorgan North America Class 8 retail sales down 61% in May, says JPMorgan 05/12/20 Piper Sandler Paccar downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Longbow Navistar likely to beat near-term expectations, says Longbow 04/20/20 Citi Paccar upgraded to Buy from Neutral at Citi 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 04/01/20 Fly Intel: After-Hours Movers
Hot Stocks
In May, EU commercial…
In May, EU commercial vehicle registrations decreased by 44.4%, although the decline was less pronounced than in April as measures to contain COVID-19 were relaxed, reported the European Automobile Manufacturers Association. Demand fell across all commercial vehicle segments, contributing to the sharp decline recorded last month. Looking at the four largest markets of the EU, Spain and Germany saw the biggest losses in May, followed by Italy and France, the group said. Publicly traded truck makers and suppliers include Daimler AG (DDAIF), Paccar (PCAR), CNH Industrial (CNHI), Navistar (NAV), Cummins (CMI) and Allison Transmission (ALSN). Reference Link
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04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 04/01/20 Paccar extends suspension of truck, engine production until April 20 03/24/20 Paccar to hold 2020 Annual Meeting of Stockholders in virtual format 05/15/20 Paulson adds Kirkland Lake, exits Caesars in Q1 05/06/20 Navistar says City of Tulsa threatening to evict IC Bus from Airport facility 06/23/20 Nvidia, Mercedes-Benz to create in-vehicle computing system 06/19/20 BMW, Mercedes-Benz put automated driving alliance temporarily on hold 06/17/20 EU passenger car registrations down 52.3% in May 05/26/20 EU commercial vehicle registrations down 67.0% in March 06/08/20 CNH Industrial announces updates on investment in Nikola 06/03/20 CASE Construction Equipment delivers 125 units to Angola's Ministry of Transport 05/05/20 CNH Industrial announces progressive resumption of manufacturing operations 06/23/20 Cummins announces agreement to form joint venture with Nproxx 05/01/20 Cummins increases revolver capacity by $2B ALSN Allison Transmission 04/29/20 Allison Transmission awarded $162M contract 03/27/20 Allison temporarily suspending production at select manufacturing facilities 06/18/20 Jefferies Daimler AG price target raised to EUR 46 from EUR 40 at Jefferies 06/17/20 Kepler Cheuvreux Daimler AG downgraded to Hold from Buy at Kepler Cheuvreux 06/16/20 BofA Daimler AG upgraded to Buy from Neutral at BofA 05/28/20 Santander Daimler AG upgraded to Buy from Hold at Grupo Santander 06/17/20 JPMorgan North America Class 8 retail sales down 61% in May, says JPMorgan 05/12/20 Piper Sandler Paccar downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Longbow Navistar likely to beat near-term expectations, says Longbow 04/20/20 Citi Paccar upgraded to Buy from Neutral at Citi 06/22/20 JPMorgan CNH Industrial price target raised to $8 from $6.50 at JPMorgan 04/20/20 OTR Global Farm Equipment Manufacturers downgraded to Negative at OTR Global 04/13/20 BofA CNH Industrial downgraded to Underperform from Neutral at BofA 03/30/20 Goldman Sachs CNH Industrial removed from Conviction List at Goldman Sachs 06/05/20 Fly Intel: Top five analyst upgrades 06/05/20 Loop Capital Navistar upgraded to Buy from Hold at Loop Capital 06/05/20 Baird Navistar upgraded to Outperform from Neutral at Baird 05/12/20 Piper Sandler Cummins downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Wells Fargo Cummins price target raised to $190 from $180 at Wells Fargo ALSN Allison Transmission 04/20/20 Citi Allison Transmission downgraded to Neutral from Buy at Citi 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 06/04/20 Navistar reports Q2 EPS (38c), consensus (41c) 06/03/20 Notable companies reporting before tomorrow's open 03/23/20 Navistar withdraws FY20 guidance, suspends production in Ohio assembly plant 04/29/20 Daimler AG sees 2020 group unit sales, revenue and EBIT to be below prior year 04/29/20 Daimler AG reports Q1 EPS (EUR 0.09) vs. EUR 1.96 a year ago 04/22/20 Daimler AG sees FY20 revenue below FY19 revenue 02/11/20 Daimler AG reports Q4 EPS (EUR0.10) vs. EUR1.46 last year 05/06/20 CNH Industrial reaffirms withdrawal of 2020 guidance 05/06/20 CNH Industrial reports Q1 adj. EPS (6c), consensus 7c 03/30/20 CNH Industrial withdraws FY20 guidance due to COVID-19 impact 02/07/20 CNH Industrial sees FY10 adj. EPS 78c-86c, consensus 88c 04/28/20 Cummins reports Q1 ex-items EPS $3.18, consensus $2.16 04/27/20 Notable companies reporting before tomorrow's open 02/04/20 Cummins sees FY20 revenue down 8%-12% ALSN Allison Transmission 05/04/20 Allison Transmission can't provide FY20 outlook at this time 05/04/20 Allison Transmission reports Q1 EPS $1.20, consensus $1.00 05/04/20 Notable companies reporting after market close 03/27/20 Allison Transmission withdraws FY20 guidance 12/31/19 Heavy-truck market settles down amid technology advance, Equipment World says 03/17/20 VW says still wants to acquire Navistar, but needs to save cash, Reuters reports 01/30/20 Volkswagen said to plan offer to buy rest of Navistar, Bloomberg reports 06/17/20 European automakers dealing with oversupply of unsold vehicles, WSJ reports 06/10/20 Think tank: Automakers on course to miss climate targets, Reuters reports 05/25/20 Daimler forges ahead with electric flagship sedan plans, Bloomberg says 05/21/20 Sales of high-end German cars doing well in China, WSJ says 02/29/20 Yum China, Wynn among those with most direct exposure to China, Barron's says 01/24/20 VW struggles with sale of MAN Energy Solutions unit, Bloomberg says 04/01/20 Fly Intel: After-Hours Movers 06/04/20 Fly Intel: Pre-market Movers 01/31/20 Fly Intel: Wall Street's top stories for Friday 01/31/20 Fly Intel: Wall Street's top stories at midday 04/04/20 Week in Review: How Trump's policies moved stocks 02/15/20 Week in Review: How Trump's policies moved stocks 01/18/20 Week in Review: How Trump's policies moved stocks 03/23/20 Fly Intel: Pre-market Movers
Recommendations
ACT Research released…
ACT Research released final truck data for May and North America Class 8 retail sales were down 61% year-over-year to 11,717 units in May and down 39% year-to-date, JPMorgan analyst Ann Duignan tells investors in a research note. Builds were down 79% year-over-year to 6,789 units in the month and down 54% year-to-date, the analyst adds. Duignan says truck demand has the largest incremental impact on Navistar (NAV), Paccar (PCAR), Cummins (CMI) and Allison Transmission (ALSN).
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04/01/20 Paccar extends suspension of truck, engine production until April 20 03/24/20 Paccar to hold 2020 Annual Meeting of Stockholders in virtual format 05/26/20 EU commercial vehicle registrations down 67.0% in March 05/15/20 Paulson adds Kirkland Lake, exits Caesars in Q1 05/06/20 Navistar says City of Tulsa threatening to evict IC Bus from Airport facility 04/24/20 EU commercial vehicle registrations down 47.3% in March, down 23.2% in Q1 05/01/20 Cummins increases revolver capacity by $2B 04/22/20 Cummins enters collaboration with Tula Technology ALSN Allison Transmission 04/29/20 Allison Transmission awarded $162M contract 03/27/20 Allison temporarily suspending production at select manufacturing facilities 06/05/20 Fly Intel: Top five analyst upgrades 06/05/20 Loop Capital Navistar upgraded to Buy from Hold at Loop Capital 06/05/20 Baird Navistar upgraded to Outperform from Neutral at Baird 06/05/20 Loop Capital Navistar upgraded to Buy from Hold at Loop Capital 05/12/20 Piper Sandler Paccar downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Longbow Navistar likely to beat near-term expectations, says Longbow 04/20/20 Citi Paccar upgraded to Buy from Neutral at Citi 04/17/20 JPMorgan Truck cancellation rate in March hits high at 43%, says JPMorgan 05/12/20 Piper Sandler Cummins downgraded to Neutral from Overweight at Piper Sandler 05/07/20 Wells Fargo Cummins price target raised to $190 from $180 at Wells Fargo 04/30/20 BMO Capital Cummins price target raised to $150 from $130 at BMO Capital ALSN Allison Transmission 04/20/20 Citi Allison Transmission downgraded to Neutral from Buy at Citi 04/20/20 Goldman Sachs Allison Transmission upgraded to Buy from Neutral at Goldman Sachs 04/21/20 Paccar reports Q1 EPS $1.03, consensus $1.20 01/28/20 Paccar reports Q4 EPS $1.53, consensus $1.51 01/27/20 Notable companies reporting before tomorrow's open 06/04/20 Navistar reports Q2 EPS (38c), consensus (41c) 06/03/20 Notable companies reporting before tomorrow's open 03/23/20 Navistar withdraws FY20 guidance, suspends production in Ohio assembly plant 04/28/20 Cummins reports Q1 ex-items EPS $3.18, consensus $2.16 04/27/20 Notable companies reporting before tomorrow's open 02/04/20 Cummins sees FY20 revenue down 8%-12% ALSN Allison Transmission 05/04/20 Allison Transmission can't provide FY20 outlook at this time 05/04/20 Allison Transmission reports Q1 EPS $1.20, consensus $1.00 05/04/20 Notable companies reporting after market close 03/27/20 Allison Transmission withdraws FY20 guidance 03/17/20 VW says still wants to acquire Navistar, but needs to save cash, Reuters reports 01/30/20 Volkswagen said to plan offer to buy rest of Navistar, Bloomberg reports 12/31/19 Heavy-truck market settles down amid technology advance, Equipment World says 02/29/20 Yum China, Wynn among those with most direct exposure to China, Barron's says 01/24/20 VW struggles with sale of MAN Energy Solutions unit, Bloomberg says 12/19/19 Volkswagen receives bids for MAN Energy Solutions, Reuters reports 04/01/20 Fly Intel: After-Hours Movers 06/04/20 Fly Intel: Pre-market Movers 01/31/20 Fly Intel: Wall Street's top stories for Friday 01/31/20 Fly Intel: Wall Street's top stories at midday