PACCAR Inc. (PCAR) Upgraded to Buy by ValuEngine
ValuEngine upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a buy rating in a report published on Thursday morning.
A number of other research analysts have also issued reports on PCAR. UBS AG raised PACCAR from a neutral rating to a buy rating and lifted their target price for the stock from $66.00 to $75.00 in a report on Tuesday, June 6th. BidaskClub lowered PACCAR from a buy rating to a hold rating in a report on Monday, August 14th. Stifel Nicolaus reaffirmed a hold rating and set a $72.00 target price on shares of PACCAR in a report on Tuesday. Zacks Investment Research lowered PACCAR from a buy rating to a hold rating in a report on Monday. Finally, Jefferies Group LLC set a $77.00 target price on PACCAR and gave the stock a buy rating in a report on Sunday, May 28th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $71.74.
PACCAR (NASDAQ:PCAR) traded up 1.08% during trading on Thursday, hitting $67.55. 495,471 shares of the stock were exchanged. PACCAR has a one year low of $53.38 and a one year high of $70.32. The company has a market cap of $23.74 billion, a price-to-earnings ratio of 18.08 and a beta of 1.15. The stock’s 50 day moving average is $66.24 and its 200-day moving average is $66.07.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. On average, equities research analysts expect that PACCAR will post $4.00 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.50%. PACCAR’s dividend payout ratio (DPR) is presently 26.74%.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the transaction, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.64% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in PACCAR by 6.6% during the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after acquiring an additional 1,572,038 shares in the last quarter. Vanguard Group Inc. grew its stake in PACCAR by 5.0% during the 2nd 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. State Street Corp grew its stake in PACCAR by 0.9% during the 1st quarter. State Street Corp now owns 15,141,782 shares of the company’s stock valued at $1,017,524,000 after acquiring an additional 135,416 shares in the last quarter. Bank of New York Mellon Corp grew its stake in PACCAR by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock valued at $400,938,000 after acquiring an additional 580,223 shares in the last quarter. Finally, FMR LLC grew its stake in PACCAR by 20.7% during the 1st quarter. FMR LLC now owns 4,832,949 shares of the company’s stock valued at $324,775,000 after acquiring an additional 829,031 shares in the last quarter. 62.69% 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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