Shares of PACCAR Inc (NASDAQ:PCAR) have been assigned a consensus rating of “Buy” from the thirteen research firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $100.42.
A number of research firms recently issued reports on PCAR. Citigroup increased their target price on shares of PACCAR from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley dropped their target price on shares of PACCAR from $96.00 to $87.00 and set an “equal weight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a report on Tuesday, July 13th. Vertical Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Tuesday, July 27th. Finally, Wolfe Research upgraded PACCAR from a “peer perform” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Tuesday, October 5th.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Ameritas Investment Company LLC bought a new position in PACCAR during the first quarter worth $25,000. Eagle Bay Advisors LLC bought a new position in PACCAR during the second quarter worth $58,000. Penserra Capital Management LLC lifted its stake in PACCAR by 18.8% during the first quarter. Penserra Capital Management LLC now owns 859 shares of the company’s stock worth $79,000 after purchasing an additional 136 shares during the last quarter. Capital Analysts LLC bought a new position in PACCAR during the first quarter worth $82,000. Finally, Credit Agricole S A bought a new position in PACCAR during the second quarter worth $82,000. Hedge funds and other institutional investors own 62.58% of the company’s stock.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 27th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.02. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $5.50 billion. PACCAR had a net margin of 7.90% and a return on equity of 16.52%. The company’s quarterly revenue was up 99.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. As a group, equities research analysts anticipate that PACCAR will post 5.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 7th. Stockholders of record on Tuesday, November 16th will be paid a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Monday, November 15th. PACCAR’s dividend payout ratio (DPR) is currently 36.36%.
PACCAR Company Profile
PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.
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