Paccar Stock Rating Reaffirmed by Zacks (PCAR)
Paccar (NASDAQ:PCAR)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Wednesday, AnalystRatings.Net reports. They currently have a $59.00 price objective on the stock. Zacks‘ target price would indicate a potential upside of 4.19% from the company’s current price.
Zacks‘ analyst wrote, “PACCAR’s third quarter 2013 earnings of $0.87 per share beat the Zacks Consensus Estimate by $0.02 per share and surged 31.8% from the year-ago quarter. The increase was attributable to the increase in truck and aftermarket parts sales along with pre-tax profits in financial services. Revenues increased 13% to $4.3 billion, surpassing the Zacks Consensus Estimate of $4.16 billion. PACCAR enjoys a strong market share and expects a boost in sales due to the ongoing replacement of the aging truck population. This led the company to enhance its capital outlay in order to boost product lineups and manufacturing operating efficiency. Therefore, we continue with our Neutral recommendation on the stock.”
A number of other firms have also recently commented on PCAR. Analysts at Longbow Research initiated coverage on shares of Paccar in a research note to investors on Tuesday, October 15th. They set a “neutral” rating on the stock. Analysts at Susquehanna initiated coverage on shares of Paccar in a research note to investors on Wednesday, August 21st. They set a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and one has assigned a buy rating to the company’s stock. Paccar presently has an average rating of “Hold” and an average price target of $57.29.
Paccar (NASDAQ:PCAR) traded down 1.96% on Wednesday, hitting $55.52. The stock had a trading volume of 853,773 shares. Paccar has a 52-week low of $38.76 and a 52-week high of $60.00. The stock has a 50-day moving average of $55.33 and a 200-day moving average of $52.79. The company has a market cap of $19.653 billion and a price-to-earnings ratio of 19.81.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.85 by $0.02. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter last year, the company posted $0.66 earnings per share. Paccar’s revenue was up 12.6% compared to the same quarter last year. Analysts expect that Paccar will post $3.24 EPS for the current fiscal year.
PACCAR Inc (NASDAQ:PCAR) is engaged in the design, manufacture and customer support of light, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates.
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