BMO Capital Markets Reiterates Buy Rating for PACCAR Inc (PCAR)
PACCAR Inc (NASDAQ:PCAR)‘s stock had its “buy” rating restated by research analysts at BMO Capital Markets in a note issued to investors on Thursday. They presently have a $85.00 price objective on the stock. BMO Capital Markets’ price objective points to a potential upside of 31.66% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. Evercore ISI upgraded PACCAR from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $77.00 in a research report on Tuesday, January 3rd. Royal Bank of Canada restated a “buy” rating and issued a $75.00 price objective on shares of PACCAR in a research report on Wednesday, March 22nd. Jefferies Group LLC restated a “buy” rating and issued a $77.00 price objective on shares of PACCAR in a research report on Friday, March 17th. Seaport Global Securities restated a “buy” rating and issued a $80.00 price objective on shares of PACCAR in a research report on Thursday, April 6th. Finally, Credit Suisse Group AG set a $68.00 price objective on PACCAR and gave the stock a “hold” rating in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $68.27.
Shares of PACCAR (NASDAQ:PCAR) opened at 64.56 on Thursday. PACCAR has a 1-year low of $48.17 and a 1-year high of $70.12. The company has a market capitalization of $22.65 billion, a price-to-earnings ratio of 43.62 and a beta of 1.26. The firm’s 50-day moving average is $67.28 and its 200-day moving average is $64.19.
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PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 31st. The company reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by $0.04. PACCAR had a return on equity of 20.21% and a net margin of 3.12%. The company earned $3.77 billion during the quarter, compared to analysts’ expectations of $3.86 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts forecast that PACCAR will post $3.61 earnings per share for the current fiscal year.
In other PACCAR news, CEO Ronald E. Armstrong sold 31,326 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $68.29, for a total value of $2,139,252.54. Following the completion of the sale, the chief executive officer now directly owns 134,793 shares of the company’s stock, valued at approximately $9,205,013.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gary Lee Moore sold 22,742 shares of the firm’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $68.28, for a total value of $1,552,823.76. Following the completion of the sale, the insider now directly owns 18,854 shares of the company’s stock, valued at $1,287,351.12. The disclosure for this sale can be found here. Insiders sold a total of 84,157 shares of company stock valued at $5,757,472 over the last ninety days. Corporate insiders own 2.62% of the company’s stock.
Several hedge funds have recently modified their holdings of PCAR. Ken Stern & Associates acquired a new stake in shares of PACCAR during the third quarter worth about $266,000. J. Goldman & Company acquired a new stake in shares of PACCAR during the third quarter worth about $5,797,000. Biltmore Wealth Management increased its stake in shares of PACCAR by 11.2% in the fourth quarter. Biltmore Wealth Management now owns 12,316 shares of the company’s stock worth $584,000 after buying an additional 1,237 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft acquired a new stake in shares of PACCAR during the third quarter worth about $10,806,000. Finally, Capital Impact Advisors increased its stake in shares of PACCAR by 59.3% in the fourth quarter. Capital Impact Advisors now owns 22,300 shares of the company’s stock worth $1,057,000 after buying an additional 8,300 shares during the last quarter. 60.60% of the stock is owned by hedge funds and other institutional investors.
PACCAR Company Profile
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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