PACCAR Inc. (PCAR) Upgraded to “Buy” at Argus

Argus upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a buy rating in a report published on Monday, November 6th, MarketBeat.com reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised PACCAR from a hold rating to a buy rating and set a $74.00 price objective on the stock in a research report on Tuesday, September 5th. Buckingham Research started coverage on PACCAR in a research report on Tuesday, September 5th. They set a neutral rating and a $65.00 price objective on the stock. ValuEngine raised PACCAR from a hold rating to a buy rating in a research report on Thursday, September 7th. Citigroup Inc. raised their price objective on PACCAR from $74.00 to $78.00 and gave the company a buy rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a buy rating on shares of PACCAR in a research report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. PACCAR presently has an average rating of Hold and a consensus target price of $75.95.

PACCAR (NASDAQ:PCAR) opened at $66.94 on Monday. The company has a market capitalization of $23,863.79, a price-to-earnings ratio of 17.40, a PEG ratio of 1.62 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. PACCAR has a 52 week low of $58.78 and a 52 week high of $75.68.

PACCAR (NASDAQ:PCAR) last announced 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. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The firm had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 19.7% on a year-over-year basis. analysts forecast that PACCAR will post 4.18 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is 25.64%.

In other news, VP Alma Lily Ley sold 4,024 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the transaction, the vice president now directly owns 24,319 shares in the company, valued at $1,726,649. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark C. Pigott sold 98,956 shares of PACCAR stock in a transaction that occurred on Friday, November 3rd. The shares were 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 $213,068,069.37. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,598 shares of company stock valued at $7,597,908. Company insiders own 2.64% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. IFP Advisors Inc raised its position in PACCAR by 91.1% during the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after acquiring an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after acquiring an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its position in PACCAR by 29.9% during the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after acquiring an additional 500 shares in the last quarter. Perkins Coie Trust Co raised its position in PACCAR by 102.8% during the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after acquiring an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC raised its position in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after acquiring an additional 2,585 shares in the last quarter. Institutional investors own 62.37% of the company’s stock.

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PACCAR Company Profile

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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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