PACCAR (NASDAQ:PCAR) Coverage Initiated at Raymond James

Stock analysts at Raymond James began coverage on shares of PACCAR (NASDAQ:PCAR) in a note issued to investors on Friday, MarketBeat reports. The firm set a “market perform” rating on the stock.

A number of other research analysts have also issued reports on PCAR. Royal Bank of Canada assumed coverage on shares of PACCAR in a research report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Citigroup assumed coverage on shares of PACCAR in a research report on Wednesday. They set a “neutral” rating and a $115.00 target price on the stock. StockNews.com lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, PACCAR presently has an average rating of “Hold” and an average price target of $114.38.

PACCAR Stock Performance

NASDAQ:PCAR opened at $102.94 on Friday. PACCAR has a 1 year low of $80.64 and a 1 year high of $125.50. The firm has a 50 day moving average of $107.60 and a 200-day moving average of $107.70. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $53.96 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.59 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the company posted $2.25 EPS. PACCAR’s revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts anticipate that PACCAR will post 8.36 EPS for the current fiscal year.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Michael K. Walton sold 9,123 shares of PACCAR stock in a transaction on Monday, May 6th. The shares were sold at an average price of $105.11, for a total transaction of $958,918.53. Following the completion of the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock valued at $4,779,241 in the last quarter. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently bought and sold shares of PCAR. Fisher Asset Management LLC grew its holdings in PACCAR by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,916,582 shares of the company’s stock worth $480,104,000 after purchasing an additional 89,984 shares during the period. Norges Bank purchased a new stake in PACCAR during the fourth quarter worth about $448,288,000. Capital International Investors increased its holdings in PACCAR by 44.8% during the first quarter. Capital International Investors now owns 3,962,928 shares of the company’s stock worth $490,967,000 after buying an additional 1,225,468 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in PACCAR by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,967,614 shares of the company’s stock worth $289,788,000 after buying an additional 54,273 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in PACCAR by 0.9% during the fourth quarter. First Trust Advisors LP now owns 2,750,136 shares of the company’s stock worth $268,551,000 after purchasing an additional 23,394 shares during the period. Institutional investors own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.