Argus upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a buy rating in a report published on Monday morning, Marketbeat Ratings reports.
Several other equities analysts have also recently commented on PCAR. BidaskClub cut PACCAR from a buy rating to a hold rating in a report on Monday, August 14th. UBS AG set a $79.00 price target on PACCAR and gave the company a buy rating in a report on Wednesday, October 25th. Stifel Nicolaus cut their price target on PACCAR from $76.00 to $75.00 and set a hold rating for the company in a report on Wednesday, October 25th. Wells Fargo & Company cut their price target on PACCAR from $77.00 to $75.00 and set a market perform rating for the company in a report on Wednesday, October 25th. Finally, Deutsche Bank AG cut their price target on PACCAR from $78.00 to $77.00 and set a hold rating for the company in a report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. PACCAR presently has a consensus rating of Hold and an average price target of $75.95.
PACCAR (PCAR) traded up $0.25 during trading on Monday, reaching $69.68. The company’s stock had a trading volume of 461,843 shares, compared to its average volume of 2,430,000. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.97 and a current ratio of 2.56. The firm has a market cap of $24,420.00, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.69 and a beta of 1.24. PACCAR has a 12-month low of $58.12 and a 12-month high of $75.68.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 EPS. sell-side analysts expect that PACCAR will post 4.18 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is presently 25.64%.
In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the transaction, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the transaction, the insider now owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. Company insiders own 2.64% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PCAR. IFP Advisors Inc increased its holdings in PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after purchasing an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares in the last quarter. Perkins Coie Trust Co increased its holdings in PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC increased its holdings in PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after purchasing an additional 2,585 shares in the last quarter. Hedge funds and other institutional investors own 62.38% of the company’s stock.
PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.
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