Paccar Inc. (PCAR) Upgraded by Zacks Investment Research to “Hold”
Paccar Inc. (NASDAQ:PCAR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday.
According to Zacks, “Earnings estimates for PACCAR have remained stable of late. PACCAR holds a strong market share in the U.S. and Canada. Moreover, the company is well positioned in the key non-U.S. markets, backed by its strategic investments. Further, PACCAR follows an active capital deployment policy to boost earnings. The company raised its outlook for industry sales in Europe and modified the same for the U.S. and Canada. However, PACCAR is likely to be affected by the expected decline in Class 8 industry retail sales in the U.S. and Canada this year. It is also facing competition in the commercial trucks market.”
Other research analysts also recently issued reports about the company. Robert W. Baird reiterated a “buy” rating on shares of Paccar in a report on Tuesday, June 28th. BMO Capital Markets reiterated a “hold” rating and set a $57.00 price objective on shares of Paccar in a report on Friday, July 29th. Deutsche Bank AG assumed coverage on Paccar in a report on Tuesday, September 6th. They set a “hold” rating and a $63.00 price objective for the company. Credit Agricole SA started coverage on Paccar in a report on Friday, September 30th. They set an “outperform” rating and a $65.00 price objective for the company. Finally, Bank of America Corp. reissued a “buy” rating on shares of Paccar in a research report on Thursday, June 16th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company’s stock. Paccar presently has a consensus rating of “Hold” and an average price target of $56.33.
Shares of Paccar (NASDAQ:PCAR) traded down 1.20% on Thursday, reaching $56.76. The company’s stock had a trading volume of 638,953 shares. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 30.13 and a beta of 1.51. The company’s 50 day moving average is $58.27 and its 200-day moving average is $56.22. Paccar has a 1-year low of $43.46 and a 1-year high of $60.86.
Paccar (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.04. The business earned $4.12 billion during the quarter, compared to the consensus estimate of $4.17 billion. Paccar had a return on equity of 21.92% and a net margin of 3.71%. Paccar’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period last year, the company earned $1.26 earnings per share. Equities research analysts expect that Paccar will post $3.98 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.67%. Paccar’s dividend payout ratio (DPR) is presently 51.34%.
Institutional investors have recently bought and sold shares of the company. Virginia Retirement System bought a new position in Paccar during the first quarter worth approximately $313,000. NN Investment Partners Holdings N.V. bought a new position in Paccar during the first quarter worth approximately $111,000. AMF Pensionsforsakring AB raised its position in Paccar by 624.1% in the first quarter. AMF Pensionsforsakring AB now owns 34,900 shares of the company’s stock worth $1,909,000 after buying an additional 30,080 shares during the period. Credit Agricole S A raised its position in Paccar by 3.8% in the first quarter. Credit Agricole S A now owns 323,754 shares of the company’s stock worth $17,705,000 after buying an additional 11,711 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in Paccar by 32.7% in the first quarter. Canada Pension Plan Investment Board now owns 61,216 shares of the company’s stock worth $3,348,000 after buying an additional 15,100 shares during the period. Hedge funds and other institutional investors 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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