PACCAR Inc. (PCAR) Downgraded to Hold at ValuEngine
ValuEngine cut shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a report published on Friday morning.
A number of other research analysts have also commented on PCAR. BidaskClub lowered PACCAR from a buy rating to a hold rating in a report on Monday, August 14th. Stifel Nicolaus decreased their target price on PACCAR from $76.00 to $75.00 and set a hold rating for the company in a research note on Wednesday, October 25th. Wells Fargo & Company decreased their target price on PACCAR from $77.00 to $75.00 and set a market perform rating for the company in a research note on Wednesday, October 25th. Argus raised PACCAR from a hold rating to a buy rating in a research note on Monday, November 6th. Finally, UBS AG set a $79.00 target price on PACCAR and gave the company a buy rating in a research note on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. PACCAR presently has an average rating of Hold and an average target price of $75.95.
Shares of PACCAR (NASDAQ PCAR) traded down $3.01 on Friday, hitting $66.69. The stock had a trading volume of 5,088,632 shares, compared to its average volume of 1,908,590. The firm has a market capitalization of $24,510.00, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.24. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. PACCAR has a 52 week low of $58.78 and a 52 week high of $75.68.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.06. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. research analysts expect that PACCAR will post 4.18 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.50%. PACCAR’s payout ratio is presently 25.64%.
In other PACCAR news, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total value of $7,062,489.72. Following the sale, the insider now owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock valued at $7,597,908 over the last 90 days. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. State of Alaska Department of Revenue boosted its position in PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after acquiring an additional 500 shares during the period. Eqis Capital Management Inc. acquired a new stake in PACCAR during the 2nd quarter worth about $380,000. LS Investment Advisors LLC boosted its position in PACCAR by 0.8% during the 2nd quarter. LS Investment Advisors LLC now owns 15,037 shares of the company’s stock worth $993,000 after acquiring an additional 120 shares during the period. Louisiana State Employees Retirement System boosted its position in PACCAR by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the company’s stock worth $1,440,000 after acquiring an additional 200 shares during the period. Finally, Aperio Group LLC boosted its position in PACCAR by 4.3% during the 2nd quarter. Aperio Group LLC now owns 192,384 shares of the company’s stock worth $12,705,000 after acquiring an additional 7,953 shares during the period. Hedge funds and other institutional investors own 63.03% 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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