Paccar Inc. (PCAR) Price Target Raised to $50.00 at Barclays PLC
Paccar Inc. (NASDAQ:PCAR) had its price target upped by research analysts at Barclays PLC from $47.00 to $50.00 in a research note issued to investors on Wednesday. The firm presently has an “underweight” rating on the stock. Barclays PLC’s price objective indicates a potential downside of 12.94% from the company’s current price.
PCAR has been the subject of several other reports. Bank of America Corp. reaffirmed a “buy” rating on shares of Paccar in a research report on Thursday, June 16th. Zacks Investment Research raised shares of Paccar from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Jefferies Group raised their price target on shares of Paccar from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, September 1st. JPMorgan Chase & Co. lowered shares of Paccar from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $58.00 to $47.00 in a research report on Monday, June 27th. Finally, Credit Agricole SA began coverage on shares of Paccar in a research report on Friday, September 30th. They set an “outperform” rating and a $65.00 price target for the company. Five analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Paccar has an average rating of “Hold” and an average target price of $56.33.
Paccar (NASDAQ:PCAR) traded down 0.17% on Wednesday, hitting $57.33. 421,192 shares of the stock traded hands. Paccar has a 12 month low of $43.46 and a 12 month high of $60.86. The company has a market capitalization of $20.10 billion, a PE ratio of 30.43 and a beta of 1.51. The firm has a 50-day moving average price of $58.34 and a 200-day moving average price of $56.21.
Paccar (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.04. The firm earned $4.12 billion during the quarter, compared to analyst estimates of $4.17 billion. Paccar had a net margin of 3.71% and a return on equity of 21.92%. Paccar’s revenue was down 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.26 EPS. Analysts forecast that Paccar will post $3.98 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.67%. Paccar’s dividend payout ratio is presently 51.34%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Paccar by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,216,874 shares of the company’s stock valued at $121,241,000 after buying an additional 57,859 shares in the last quarter. Geode Capital Management LLC raised its position in Paccar by 2.0% in the first quarter. Geode Capital Management LLC now owns 3,070,842 shares of the company’s stock valued at $167,628,000 after buying an additional 59,726 shares in the last quarter. Nicholas Investment Partners LP bought a new position in Paccar during the first quarter valued at approximately $4,954,000. Riverhead Capital Management LLC raised its position in Paccar by 133.7% in the first quarter. Riverhead Capital Management LLC now owns 129,942 shares of the company’s stock valued at $7,107,000 after buying an additional 74,334 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in Paccar by 1.6% in the first quarter. Pictet Asset Management Ltd. now owns 189,555 shares of the company’s stock valued at $9,762,000 after buying an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.
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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