PACCAR Inc. (NASDAQ:PCAR) Stock Rating Reaffirmed by Deutsche Bank AG

PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “hold” rating reiterated by equities research analysts at Deutsche Bank AG in a research report issued on Monday, October 9th. They presently have a $78.00 price target on the stock, up from their prior price target of $75.00. Deutsche Bank AG’s price objective would indicate a potential upside of 4.11% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company raised their target price on shares of PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research note on Friday, October 6th. J P Morgan Chase & Co raised shares of PACCAR from a “neutral” rating to an “overweight” rating and raised their target price for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. UBS AG reissued a “buy” rating and issued a $82.00 target price (up previously from $76.00) on shares of PACCAR in a research note on Tuesday, October 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $77.00 target price on shares of PACCAR in a research note on Tuesday, October 3rd. Finally, Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $75.84.

PACCAR (NASDAQ:PCAR) traded up 1.56% during mid-day trading on Monday, hitting $74.92. The stock had a trading volume of 2,192,212 shares. The company has a market cap of $26.33 billion, a price-to-earnings ratio of 20.05 and a beta of 1.18. The company has a 50 day moving average price of $71.21 and a 200-day moving average price of $67.00. PACCAR has a one year low of $53.38 and a one year high of $75.13.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter last year, the firm posted $1.06 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts expect that PACCAR will post $4.04 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was published by BBNS and is the sole property of of BBNS. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and international copyright and trademark law. The correct version of this story can be accessed at https://baseballnewssource.com/markets/paccar-inc-pcar-rating-reiterated-by-deutsche-bank-ag/1704614.html.

In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.64% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. grew its holdings in PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after acquiring an additional 2,038,761 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in PACCAR during the 2nd quarter worth $3,038,000. Point72 Europe London LLP acquired a new position in PACCAR during the 1st quarter worth $1,137,000. Brighton Jones LLC acquired a new position in PACCAR during the 2nd quarter worth $3,338,000. Finally, BlueMountain Capital Management LLC acquired a new position in PACCAR during the 2nd quarter worth $2,771,000. 62.13% of the stock is owned by institutional investors.

About PACCAR

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)

Receive News & Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related companies with our FREE daily email newsletter.

 


Latest News

Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston’s Dallas Keuchel Could Make Relief Appearance in Game 7
Houston Astros Relying on Justin Verlander to Save Their Season
Houston Astros Relying on Justin Verlander to Save Their Season
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Clayton Kershaw Gets Chance to Pitch LA into Fall Classic
Aaron Judge and Gary Sanchez Have Break Out Games
Aaron Judge and Gary Sanchez Have Break Out Games
Justin Turner Joining Postseason Legends
Justin Turner Joining Postseason Legends
PED Use Cost Alex Rodriguez Millions and His Reputation
PED Use Cost Alex Rodriguez Millions and His Reputation


Leave a Reply

 
© 2006-2017 BBNS.