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.
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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.
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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