PACCAR Inc. (PCAR) Receives Buy Rating from Jefferies Group LLC
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “buy” rating restated by Jefferies Group LLC in a research report issued on Thursday. They presently have a $85.00 target price on the stock. Jefferies Group LLC’s price target indicates a potential upside of 13.45% from the company’s previous close.
A number of other brokerages have also weighed in on PCAR. Wells Fargo & Company raised their price objective on PACCAR from $74.00 to $77.00 and gave the company a “market perform” rating in a research report on Friday, October 6th. J P Morgan Chase & Co upgraded PACCAR from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $70.00 to $83.00 in a research report on Wednesday, October 4th. Deutsche Bank AG restated a “hold” rating and set a $78.00 price objective (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. ValuEngine lowered PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Citigroup Inc. raised their price objective on PACCAR from $78.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, October 13th. 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. The company has a consensus rating of “Hold” and an average target price of $75.84.
PACCAR (NASDAQ:PCAR) traded up 1.56% during trading on Thursday, hitting $74.92. The stock had a trading volume of 2,192,212 shares. The firm has a market cap of $26.33 billion, a P/E ratio of 20.05 and a beta of 1.18. The company has a 50-day moving average of $71.21 and a 200 day moving average of $67.00. PACCAR has a 52-week low of $53.38 and a 52-week high of $75.13.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. On average, equities research analysts predict that PACCAR will post $4.04 earnings per share for the current fiscal year.
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In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.64% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the business. APG Asset Management N.V. boosted its position in shares of PACCAR by 2.5% during the third quarter. APG Asset Management N.V. now owns 723,067 shares of the company’s stock valued at $52,307,000 after buying an additional 17,600 shares during the period. Sumitomo Life Insurance Co. raised its stake in shares of PACCAR by 2.3% during the third quarter. Sumitomo Life Insurance Co. now owns 40,898 shares of the company’s stock valued at $2,959,000 after acquiring an additional 908 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of PACCAR during the third quarter valued at approximately $1,829,000. FormulaFolio Investments LLC raised its stake in shares of PACCAR by 45.1% during the third quarter. FormulaFolio Investments LLC now owns 15,080 shares of the company’s stock valued at $1,091,000 after acquiring an additional 4,684 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of PACCAR by 237.7% during the third quarter. Shell Asset Management Co. now owns 74,902 shares of the company’s stock valued at $4,260,000 after acquiring an additional 52,722 shares in the last quarter. Institutional investors and hedge funds own 62.13% 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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