PACCAR Inc. (NASDAQ:PCAR) Earns Buy Rating from Stifel Nicolaus
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a research note issued on Wednesday. They currently have a $72.00 price target on the stock, up from their prior price target of $64.00. Stifel Nicolaus’ price objective suggests a potential upside of 4.90% from the company’s current price.
Several other research analysts also recently commented on PCAR. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. BidaskClub raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Monday. Seaport Global Securities reaffirmed a “buy” rating and issued a $80.00 price objective on shares of PACCAR in a report on Thursday, April 6th. Zacks Investment Research raised shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, July 12th. Finally, Jefferies Group LLC set a $77.00 price objective on shares of PACCAR and gave the stock a “buy” rating in a report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $71.59.
Shares of PACCAR (NASDAQ:PCAR) traded up 0.44% during midday trading on Wednesday, hitting $68.94. The company had a trading volume of 575,129 shares. PACCAR has a 12-month low of $53.38 and a 12-month high of $70.12. The company has a market capitalization of $24.22 billion, a price-to-earnings ratio of 17.04 and a beta of 1.14. The company’s 50-day moving average price is $65.81 and its 200 day moving average price is $66.41.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a net margin of 8.56% and a return on equity of 19.13%. PACCAR’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $1.06 EPS. Equities research analysts predict that PACCAR will post $3.75 earnings per share for the current fiscal year.
In related news, VP Alma Lily Ley sold 904 shares of PACCAR stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total value of $60,920.56. Following the transaction, the vice president now owns 1,679 shares in the company, valued at approximately $113,147.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.64% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of PCAR. LMR Partners LLP purchased a new position in PACCAR during the first quarter worth about $577,000. Morse Asset Management Inc purchased a new position in PACCAR during the first quarter worth about $774,000. Creative Planning boosted its position in PACCAR by 0.6% in the first quarter. Creative Planning now owns 17,705 shares of the company’s stock worth $1,190,000 after buying an additional 103 shares during the last quarter. M&T Bank Corp boosted its position in PACCAR by 26.2% in the first quarter. M&T Bank Corp now owns 53,051 shares of the company’s stock worth $3,565,000 after buying an additional 11,019 shares during the last quarter. Finally, Point72 Europe London LLP purchased a new position in PACCAR during the first quarter worth about $1,137,000. Institutional investors own 61.45% of the company’s stock.
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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