Paccar Inc. (PCAR) Coverage Initiated at Credit Agricole SA
Analysts at Credit Agricole SA started coverage on shares of Paccar Inc. (NASDAQ:PCAR) in a research report issued on Friday. The firm set an “outperform” rating on the stock.
Other equities research analysts have also issued reports about the company. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a research report on Tuesday, June 28th. Goldman Sachs Group Inc. lowered Paccar from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $67.00 to $63.00 in a research report on Thursday, June 2nd. Deutsche Bank AG assumed coverage on Paccar in a research report on Tuesday, September 6th. They issued a “hold” rating and a $63.00 price objective on the stock. BMO Capital Markets reiterated a “hold” rating and issued a $57.00 price objective on shares of Paccar in a research report on Friday, July 29th. Finally, Zacks Investment Research upgraded Paccar from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the stock. Paccar currently has an average rating of “Hold” and a consensus target price of $55.50.
Paccar (NASDAQ:PCAR) opened at 57.89 on Friday. The firm has a 50-day moving average price of $58.36 and a 200-day moving average price of $55.93. The company has a market cap of $20.29 billion, a P/E ratio of 30.73 and a beta of 1.49. Paccar has a 52 week low of $43.46 and a 52 week high of $60.86.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.04. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.17 billion. Paccar had a return on equity of 21.92% and a net margin of 3.71%. The business’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the company earned $1.26 EPS. Equities research analysts anticipate that Paccar will post $3.97 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s dividend payout ratio is currently 51.34%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Landscape Capital Management L.L.C. boosted its position in Paccar by 281.9% in the first quarter. Landscape Capital Management L.L.C. now owns 60,259 shares of the company’s stock valued at $3,296,000 after buying an additional 44,480 shares in the last quarter. Advisor Partners LLC purchased a new stake in shares of Paccar during the first quarter valued at approximately $302,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Paccar during the first quarter valued at approximately $111,000. Bristlecone Advisors LLC raised its stake in shares of Paccar by 6.0% in the first quarter. Bristlecone Advisors LLC now owns 63,469 shares of the company’s stock valued at $3,471,000 after buying an additional 3,616 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in shares of Paccar by 15.6% in the first quarter. BlackRock Japan Co. Ltd now owns 668,424 shares of the company’s stock valued at $36,556,000 after buying an additional 90,229 shares during the last quarter. Hedge funds and other institutional investors own 62.23% of the company’s stock.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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