PACCAR’s (PCAR) Buy Rating Reiterated at Royal Bank Of Canada
PCAR has been the subject of several other research reports. Zacks Investment Research raised shares of PACCAR from a hold rating to a buy rating and set a $74.00 target price for the company in a report on Tuesday, September 5th. BidaskClub raised shares of PACCAR from a hold rating to a buy rating in a report on Tuesday, August 8th. Robert W. Baird reaffirmed a hold rating and issued a $67.00 target price on shares of PACCAR in a report on Friday, September 1st. ValuEngine raised shares of PACCAR from a hold rating to a buy rating in a report on Thursday, September 7th. Finally, UBS AG set a $75.00 target price on shares of PACCAR and gave the stock a buy rating in a report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of Hold and an average price target of $74.32.
Shares of PACCAR (PCAR) traded down 1.94% during midday trading on Tuesday, hitting $73.28. The company had a trading volume of 3,993,691 shares. PACCAR has a 1-year low of $53.38 and a 1-year high of $74.79. The stock has a 50 day moving average price of $68.43 and a 200 day moving average price of $66.55. The firm has a market capitalization of $25.75 billion, a P/E ratio of 19.61 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last issued 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 company had revenue of $4.40 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 EPS. On average, equities analysts anticipate that PACCAR will post $4.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Monday, November 13th. PACCAR’s dividend payout ratio is 26.74%.
In other news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were 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 approximately $1,412,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.64% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc raised its position in shares of PACCAR by 91.1% during the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares in the last quarter. Perkins Coie Trust Co raised its position in shares of PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC raised its position in shares of PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares in the last quarter. Hedge funds and other institutional investors own 62.13% 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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