PACCAR’s (PCAR) Hold Rating Reaffirmed at Robert W. Baird
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “hold” rating reiterated by investment analysts at Robert W. Baird in a report released on Thursday. They presently have a $80.00 price objective on the stock. Robert W. Baird’s price objective points to a potential upside of 9.80% from the company’s current price.
PCAR has been the topic of a number of other reports. Citigroup Inc. boosted their target price on shares of PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded shares of PACCAR from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research note on Tuesday, September 26th. BidaskClub upgraded shares of PACCAR from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 12th. ValuEngine cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $72.00 price target on shares of PACCAR in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $75.26.
PACCAR (NASDAQ:PCAR) traded down 0.03% on Thursday, reaching $72.84. 1,589,728 shares of the company’s stock traded hands. The company’s 50 day moving average is $69.54 and its 200-day moving average is $66.69. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 19.50 and a beta of 1.18. PACCAR has a 52-week low of $53.38 and a 52-week high of $74.79.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.06 earnings per share. Equities analysts expect that PACCAR will post $4.02 EPS for the current year.
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In other news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Davis Selected Advisers increased its holdings in shares of PACCAR by 0.4% in the 2nd quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock worth $208,000 after buying an additional 12 shares during the last quarter. Conning Inc. increased its holdings in shares of PACCAR by 0.4% in the 2nd quarter. Conning Inc. now owns 10,691 shares of the company’s stock worth $706,000 after buying an additional 39 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of PACCAR by 1.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock worth $247,000 after buying an additional 46 shares during the last quarter. Atlantic Trust Group LLC increased its holdings in shares of PACCAR by 0.6% in the 2nd quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock worth $810,000 after buying an additional 68 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of PACCAR by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock worth $1,724,000 after buying an additional 69 shares during the last quarter. 62.13% of the stock is currently owned by hedge funds and other institutional investors.
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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