Paccar Continues to Gain Market Share Amid a Soft Truck Market; Shares Look Fairly Valued
Reflecting a weak North American truck market, narrow-moat Paccar reduced its 2016 North American industry Class 8 forecast to 215,000-225,000 units versus a prior estimate for 220,000-240,000 units. The 2016 forecast for European heavy truck industry sales was modestly increased to 290,000-300,000 from 280,000-300,000. For 2017, the company expects a modest decline in European industry unit sales and a modest increase in North American unit sales. We are modestly lowering our 2017 earnings fore...PACCAR is a multinational company operating in three principal industry segments: the Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks, which are configured with engine in front of cab or cab-over-engine; 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. The company's other business includes the manufacturing of industrial winches in two United States plants and marketing them under the Braden, Carco and Gearmatic nameplates.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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