PACCAR Inc. (NASDAQ:PCAR) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued on Wednesday, July 12th. The brokerage presently has a $77.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 13.40% from the company’s current price.
According to Zacks, “Annual estimates for PACCAR have been going up of late. PACCAR benefits from a sizeable market share in the U.S. and Canada along with active capital deployment. The company’s expansion plans as well as rising European industry sales also inspire optimism. PACCAR is also well positioned in the key markets due to its strategic investments.”
Several other analysts also recently weighed in on PCAR. Jefferies Group LLC reiterated a “buy” rating and set a $77.00 price target on shares of PACCAR in a research note on Friday, March 17th. Royal Bank Of Canada reiterated a “buy” rating and set a $75.00 price target on shares of PACCAR in a research note on Wednesday, March 22nd. Deutsche Bank AG boosted their price target on PACCAR from $71.00 to $73.00 and gave the company a “hold” rating in a research note on Thursday, April 6th. Seaport Global Securities reiterated a “buy” rating and set a $80.00 price target on shares of PACCAR in a research note on Thursday, April 6th. Finally, Credit Suisse Group set a $68.00 price target on PACCAR and gave the company a “hold” rating in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.00.
PACCAR (NASDAQ:PCAR) traded down 0.95% on Wednesday, reaching $67.90. The company’s stock had a trading volume of 1,422,482 shares. PACCAR has a 1-year low of $53.38 and a 1-year high of $70.32. The company has a market capitalization of $23.85 billion, a price-to-earnings ratio of 18.17 and a beta of 1.14. The firm’s 50 day moving average price is $66.86 and its 200-day moving average price is $66.52.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The business had revenue of $4.40 billion for the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. Equities analysts forecast that PACCAR will post $4.00 earnings per share for the current year.
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In related news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.64% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. boosted its position in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the last quarter. IFP Advisors Inc boosted its position in shares of PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the last quarter. State of Alaska Department of Revenue boosted its position in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its position in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. 61.31% of the stock is owned by institutional investors and hedge funds.
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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