Trucking Recession: Heavy-Duty Truck Orders Collapse, Production Slashed, Cancellation Orders Soar [zero hedge]
PACCAR Inc. (PCAR)
Last paccar inc. earnings: 1/28 08:00 am
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Source: zero hedge
Trucking Recession: Heavy-Duty Truck Orders Collapse, Production Slashed, Cancellation Orders Soar New reports from the trucking industry show the transportation recession continues to gain momentum through the end of summer, likely to continue through 2019 into 1H20.The US trucking industry had a blockbuster year in 2018, as high demand for freight allowed transportation companies to expand fleets. But since freight demand was artificial, sparked by importers pulling forward to get ahead of tariffs, the good times were destined to end and end rather sharply.The Institute for Supply Management's purchasing managers index plunged to 49.1 in August, the first time a contraction has been seen since 2016. Prints below 50 suggest the manufacturing economy is shrinking. Data also showed new orders dropped to a seven-year low, while the production index hit 2015 lows.A transportation/manufacturing recession is developing, but it didn't start overnight. The first signs of a slowdow
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PCAR
News
- PACCAR Inc (NASDAQ: PCAR) was upgraded by analysts at Evercore ISI from an "in-line" rating to an "outperform" rating. They now have a $129.00 price target on the stock, up previously from $99.00.MarketBeat
- Why Is PACCAR (PCAR) Stock Rocketing Higher Today [Yahoo! Finance]Yahoo! Finance
- PACCAR Inc (NASDAQ: PCAR) had its "sector perform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $119.00 price target on the stock.MarketBeat
- Black Phoenix Group Announces Acquisition of PACCAR Winch from PACCAR Inc. [Yahoo! Finance]Yahoo! Finance
- PACCAR CEO R. Preston Feight Appointed to Deere Board of Directors [Yahoo! Finance]Yahoo! Finance
PCAR
Earnings
- 10/22/24 - Beat
PCAR
Sec Filings
- 11/4/24 - Form 8-K
- 11/1/24 - Form 4
- 11/1/24 - Form 144
- PCAR's page on the SEC website