BidaskClub upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a sell rating to a hold rating in a research report released on Monday, July 24th.
PCAR has been the subject of several other reports. Zacks Investment Research raised shares of PACCAR from a sell rating to a buy rating and set a $77.00 target price for the company in a report on Wednesday, July 12th. UBS AG set a $75.00 target price on shares of PACCAR and gave the stock a buy rating in a report on Thursday, July 6th. Seaport Global Securities reissued a buy rating and issued a $80.00 target price on shares of PACCAR in a report on Thursday, April 6th. Deutsche Bank AG increased their target price on shares of PACCAR from $71.00 to $73.00 and gave the stock a hold rating in a report on Thursday, April 6th. Finally, Bank of America Corporation lowered shares of PACCAR from a buy rating to a neutral rating and reduced their target price for the stock from $78.00 to $70.00 in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $72.00.
Shares of PACCAR (PCAR) opened at 63.00 on Monday. The company’s 50-day moving average is $67.30 and its 200-day moving average is $66.42. The stock has a market cap of $22.14 billion, a P/E ratio of 16.86 and a beta of 1.14. PACCAR has a 12-month low of $53.38 and a 12-month high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The business’s revenue for the quarter 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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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. PACCAR’s dividend payout ratio is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value 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 filing with the SEC, which can be accessed through this link. 2.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the last quarter. IFP Advisors Inc raised its stake in PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after buying an additional 890 shares during the last quarter. State of Alaska Department of Revenue raised its stake in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after buying an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co raised its stake in PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after buying an additional 1,157 shares during the last quarter. Institutional investors own 62.33% 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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