Robert W. Baird Reiterates Hold Rating for PACCAR Inc. (PCAR)
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “hold” rating reaffirmed by equities researchers at Robert W. Baird in a report issued on Friday. They currently have a $67.00 price objective on the stock. Robert W. Baird’s price target would indicate a potential upside of 1.73% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research note on Tuesday, August 29th. BidaskClub lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Sunday, August 20th. UBS AG reaffirmed a “buy” rating and set a $76.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. lifted their price target on PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $72.00 price target (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $72.00.
Shares of PACCAR (NASDAQ:PCAR) traded down 0.71% during trading on Friday, reaching $65.86. 962,679 shares of the company’s stock were exchanged. PACCAR has a 12-month low of $53.38 and a 12-month high of $70.32. The company has a market capitalization of $23.14 billion, a P/E ratio of 17.63 and a beta of 1.16. The stock has a 50-day moving average price of $66.52 and a 200 day moving average price of $66.17.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 earnings per share. Equities analysts expect that PACCAR will post $3.99 EPS for the current fiscal year.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. lifted its position in shares of PACCAR by 2,119.4% in the first quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock valued at $1,608,519,000 after acquiring an additional 22,857,778 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of PACCAR by 381.5% in the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after acquiring an additional 2,038,761 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of PACCAR by 25,225.9% in the first quarter. Victory Capital Management Inc. now owns 1,669,483 shares of the company’s stock valued at $112,190,000 after acquiring an additional 1,662,891 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of PACCAR in the second quarter valued at $82,298,000. Finally, Vanguard Group Inc. lifted its position in shares of PACCAR by 5.0% in the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after acquiring an additional 1,164,896 shares in the last quarter. Institutional investors and hedge funds own 62.69% of the company’s stock.
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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