PACCAR Inc. (PCAR) Downgraded by BidaskClub to Sell
BidaskClub cut shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a sell rating in a research report report published on Sunday morning.
A number of other analysts have also commented on the stock. Zacks Investment Research lowered shares of PACCAR from a buy rating to a hold rating in a research note on Monday, July 31st. UBS AG restated a buy rating and set a $76.00 price target (up previously from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Citigroup Inc. boosted their price target on shares of PACCAR from $74.00 to $78.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Stifel Nicolaus restated a buy rating and set a $72.00 price target (up previously from $64.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a neutral rating to a buy rating and set a $79.00 price target for the company in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the stock. PACCAR currently has a consensus rating of Hold and a consensus price target of $72.00.
Shares of PACCAR (NASDAQ PCAR) opened at 63.00 on Friday. PACCAR has a 52 week low of $53.38 and a 52 week high of $70.32. The company has a market cap of $22.14 billion, a P/E ratio of 16.86 and a beta of 1.14. The firm has a 50-day moving average of $67.30 and a 200 day moving average of $66.42.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The business had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. PACCAR’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. Equities analysts anticipate that PACCAR will post $4.00 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s dividend payout ratio (DPR) is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the company. Breton Hill Capital Ltd. bought a new position in shares of PACCAR during the first quarter worth $437,000. First Midwest Bank Trust Division increased its position in shares of PACCAR by 21.2% in the first quarter. First Midwest Bank Trust Division now owns 14,146 shares of the company’s stock worth $950,000 after buying an additional 2,471 shares during the period. Russell Investments Group Ltd. increased its position in shares of PACCAR by 10.9% in the first quarter. Russell Investments Group Ltd. now owns 503,472 shares of the company’s stock worth $33,830,000 after buying an additional 49,350 shares during the period. Sumitomo Life Insurance Co. bought a new position in shares of PACCAR during the first quarter worth $1,354,000. Finally, Janney Montgomery Scott LLC increased its position in shares of PACCAR by 39.1% in the first quarter. Janney Montgomery Scott LLC now owns 14,047 shares of the company’s stock worth $944,000 after buying an additional 3,951 shares during the period. 62.33% of the stock is currently owned by institutional investors.
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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