ValuEngine Upgrades PACCAR Inc. (PCAR) to Buy
PACCAR Inc. (NASDAQ:PCAR) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.
Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Wednesday, July 12th. UBS AG set a $75.00 price target on shares of PACCAR and gave the company a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $77.00 price target on shares of PACCAR and gave the company a “buy” rating in a research note on Sunday, May 28th. Stifel Nicolaus restated a “buy” rating and issued a $72.00 price target (up previously from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. PACCAR currently has an average rating of “Hold” and an average target price of $71.74.
Shares of PACCAR (NASDAQ PCAR) traded up 2.44% during midday trading on Thursday, reaching $66.83. The company’s stock had a trading volume of 2,341,928 shares. The company has a market capitalization of $23.48 billion, a P/E ratio of 17.89 and a beta of 1.15. PACCAR has a 1-year low of $53.38 and a 1-year high of $70.32. The stock has a 50 day moving average of $66.24 and a 200-day moving average of $66.07.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the business earned $1.06 earnings per share. PACCAR’s revenue was up 6.9% compared to the same quarter last year. On average, equities research analysts anticipate 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 firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.64% of the company’s stock.
Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC boosted its stake in PACCAR by 39.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 14,047 shares of the company’s stock worth $944,000 after purchasing an additional 3,951 shares during the period. First Trust Advisors LP boosted its stake in PACCAR by 32.4% in the 1st quarter. First Trust Advisors LP now owns 341,771 shares of the company’s stock worth $22,967,000 after purchasing an additional 83,686 shares during the period. Flinton Capital Management LLC boosted its stake in PACCAR by 7.6% in the 1st quarter. Flinton Capital Management LLC now owns 5,184 shares of the company’s stock worth $348,000 after purchasing an additional 368 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in PACCAR by 34.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 25,688 shares of the company’s stock worth $1,790,000 after purchasing an additional 6,533 shares during the period. Finally, Henderson Group PLC boosted its stake in PACCAR by 2.2% in the 1st quarter. Henderson Group PLC now owns 46,413 shares of the company’s stock worth $3,119,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 62.69% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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