PACCAR Inc. (PCAR) Given Buy Rating at UBS AG
UBS AG reaffirmed their buy rating on shares of PACCAR Inc. (NASDAQ:PCAR) in a report released on Tuesday morning. UBS AG currently has a $82.00 target price on the stock, up from their previous target price of $76.00.
A number of other brokerages have also weighed in on PCAR. Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $70.00 target price for the company in a research report on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR from a neutral rating to a buy rating and set a $79.00 target price for the company in a research note on Thursday, June 15th. BidaskClub lowered shares of PACCAR from a sell rating to a strong sell rating in a research report on Saturday, June 24th. Stifel Nicolaus reissued a buy rating and issued a $72.00 price target (up previously from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Finally, Citigroup Inc. upped 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. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $72.89.
PACCAR (PCAR) traded up 0.58% on Tuesday, reaching $74.19. The company’s stock had a trading volume of 1,047,363 shares. The firm has a market cap of $26.07 billion, a price-to-earnings ratio of 19.86 and a beta of 1.18. PACCAR has a 12 month low of $53.38 and a 12 month high of $74.66. The firm has a 50 day moving average of $67.86 and a 200 day moving average of $66.44.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data 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. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts anticipate that PACCAR will post $4.00 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio (DPR) is 26.74%.
In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the sale, the insider now directly owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.64% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of PACCAR by 2,119.4% in the 1st quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock worth $1,608,519,000 after purchasing an additional 22,857,778 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after purchasing an additional 2,038,761 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of PACCAR during the 2nd quarter valued at about $82,298,000. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 1,164,896 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of PACCAR by 59.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,660,654 shares of the company’s stock valued at $175,710,000 after purchasing an additional 991,171 shares during the last quarter. 62.13% of the stock is currently owned by institutional investors and hedge funds.
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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