Barclays PLC Raises Paccar Inc. (PCAR) Price Target to $50.00
Paccar Inc. (NASDAQ:PCAR) had its target price upped by analysts at Barclays PLC from $47.00 to $50.00 in a report released on Wednesday. The firm currently has an “underweight” rating on the stock. Barclays PLC’s price objective indicates a potential downside of 12.97% from the stock’s previous close.
Several other research firms have also recently weighed in on PCAR. Longbow Research cut shares of Paccar from a “neutral” rating to an “underperform” rating and set a $44.00 price target on the stock. in a report on Tuesday, July 19th. BMO Capital Markets reissued a “hold” rating and issued a $57.00 price target on shares of Paccar in a report on Friday, July 29th. Deutsche Bank AG started coverage on shares of Paccar in a report on Tuesday, September 6th. They issued a “hold” rating and a $63.00 price target on the stock. Robert W. Baird reissued a “buy” rating on shares of Paccar in a report on Tuesday, June 28th. Finally, Zacks Investment Research cut shares of Paccar from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.33.
Shares of Paccar (NASDAQ:PCAR) traded up 0.03% on Wednesday, hitting $57.45. The stock had a trading volume of 2,283,684 shares. Paccar has a 12-month low of $43.46 and a 12-month high of $60.86. The company has a 50 day moving average of $58.27 and a 200-day moving average of $56.22. The firm has a market capitalization of $20.14 billion, a P/E ratio of 30.49 and a beta of 1.51.
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Paccar (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.04. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The business earned $4.12 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the business posted $1.26 EPS. Paccar’s revenue was down 14.0% on a year-over-year basis. Equities analysts predict that Paccar will post $3.98 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.67%. Paccar’s dividend payout ratio is currently 51.34%.
A number of hedge funds have recently modified their holdings of the stock. Madrona Financial Services LLC raised its stake in shares of Paccar by 0.4% in the second quarter. Madrona Financial Services LLC now owns 5,444 shares of the company’s stock worth $282,000 after buying an additional 23 shares in the last quarter. Advisor Partners LLC raised its position in shares of Paccar by 0.7% in the second quarter. Advisor Partners LLC now owns 5,557 shares of the company’s stock worth $288,000 after buying an additional 41 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Paccar by 0.3% in the second quarter. Coldstream Capital Management Inc. now owns 16,382 shares of the company’s stock worth $850,000 after buying an additional 42 shares during the period. Burney Co. raised its position in shares of Paccar by 1.6% in the second quarter. Burney Co. now owns 6,234 shares of the company’s stock worth $323,000 after buying an additional 100 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its position in shares of Paccar by 1.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 8,925 shares of the company’s stock worth $417,000 after buying an additional 129 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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