PACCAR (PCAR) PT Raised to $80.00 at Wells Fargo & Co
PACCAR (NASDAQ:PCAR) had its price objective boosted by research analysts at Wells Fargo & Co from $75.00 to $80.00 in a research note issued on Thursday. The brokerage presently has a “market perform” rating on the stock. Wells Fargo & Co’s price objective indicates a potential upside of 4.52% from the stock’s previous close.
Several other equities research analysts also recently issued reports on the stock. Seaport Global Securities reissued a “neutral” rating on shares of PACCAR in a research report on Tuesday. Royal Bank of Canada reissued a “buy” rating and set a $82.00 price objective on shares of PACCAR in a research report on Thursday, January 11th. Bank of America raised shares of PACCAR from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Tuesday, January 2nd. Piper Jaffray Companies set a $67.00 price objective on shares of PACCAR and gave the stock a “hold” rating in a research report on Sunday, December 10th. Finally, Zacks Investment Research downgraded shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. PACCAR currently has an average rating of “Hold” and an average target price of $75.58.
Shares of PACCAR (PCAR) traded up $0.57 during mid-day trading on Thursday, hitting $76.54. 1,493,300 shares of the stock traded hands, compared to its average volume of 2,392,937. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. PACCAR has a 52 week low of $61.93 and a 52 week high of $76.83. The company has a market capitalization of $27,090.00, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. The firm’s revenue was up 19.7% compared to the same quarter last year. sell-side analysts predict that PACCAR will post 4.19 earnings per share for the current fiscal year.
In other PACCAR news, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total value of $7,062,489.72. Following the completion of the sale, the insider now owns 2,985,401 shares in the company, valued at $213,068,069.37. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the completion of the sale, the vice president now owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,598 shares of company stock valued at $7,597,908. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PCAR. FUKOKU MUTUAL LIFE INSURANCE Co lifted its stake in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC lifted its stake in shares of PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares during the last quarter. Hartland & Co. LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth about $206,000. BB&T Securities LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth about $210,000. Finally, Brown Advisory Securities LLC acquired a new stake in shares of PACCAR during the 3rd quarter worth about $214,000. Hedge funds and other institutional investors own 62.26% of the company’s stock.
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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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