PACCAR (PCAR) Lifted to “Buy” at BidaskClub
BidaskClub upgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a buy rating in a research note released on Thursday morning.
PCAR has been the topic of several other research reports. Deutsche Bank lowered their price target on shares of PACCAR from $78.00 to $77.00 and set a hold rating on the stock in a research report on Wednesday, October 25th. Zacks Investment Research raised shares of PACCAR from a hold rating to a buy rating and set a $74.00 target price on the stock in a research report on Tuesday, September 5th. J P Morgan Chase & Co raised shares of PACCAR from a neutral rating to an overweight rating and upped their target price for the company from $70.00 to $83.00 in a research report on Wednesday, October 4th. Robert W. Baird reaffirmed a hold rating and issued a $80.00 target price on shares of PACCAR in a research report on Thursday, October 12th. Finally, Citigroup upped their target price on shares of PACCAR from $78.00 to $81.00 and gave the company a buy rating in a research report on Friday, October 13th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. PACCAR presently has a consensus rating of Hold and a consensus price target of $75.60.
Shares of PACCAR (PCAR) traded up $0.75 during mid-day trading on Thursday, hitting $71.97. 1,541,169 shares of the stock traded hands, compared to its average volume of 2,041,708. The company has a debt-to-equity ratio of 0.75, a quick ratio of 2.40 and a current ratio of 2.56. The firm has a market cap of $25,305.37, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.22. PACCAR has a 1 year low of $61.93 and a 1 year high of $75.68.
The company also recently announced a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a dividend yield of 1.4%. PACCAR’s payout ratio is 25.64%.
In related news, insider Mark C. Pigott sold 98,956 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the sale, the insider now directly owns 2,985,401 shares in the company, valued at $213,068,069.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP C Michael Dozier sold 3,618 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. Insiders have sold 106,598 shares of company stock worth $7,597,908 over the last 90 days. Insiders own 2.64% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in PCAR. State of Alaska Department of Revenue increased its stake in PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after purchasing an additional 500 shares during the last quarter. Strs Ohio increased its stake in PACCAR by 6.3% in the second quarter. Strs Ohio now owns 8,955 shares of the company’s stock valued at $591,000 after purchasing an additional 534 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in PACCAR by 4.7% in the second quarter. Janney Montgomery Scott LLC now owns 14,713 shares of the company’s stock valued at $972,000 after purchasing an additional 666 shares during the last quarter. Bessemer Group Inc. increased its stake in PACCAR by 6.7% in the second quarter. Bessemer Group Inc. now owns 7,530 shares of the company’s stock valued at $497,000 after purchasing an additional 471 shares during the last quarter. Finally, Sei Investments Co. increased its stake in PACCAR by 22.0% in the second quarter. Sei Investments Co. now owns 171,985 shares of the company’s stock valued at $11,358,000 after purchasing an additional 30,994 shares during the last quarter. Hedge funds and other institutional investors own 62.36% of the company’s stock.
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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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