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.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. analysts expect that PACCAR will post 4.18 EPS for the current fiscal year.

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.

WARNING: “PACCAR (PCAR) Lifted to “Buy” at BidaskClub” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally stolen and reposted in violation of US & international copyright law. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/12/10/paccar-pcar-lifted-to-buy-at-bidaskclub.html.

About PACCAR

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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

Receive News & Stock Ratings for PACCAR Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR Inc. and related stocks with our FREE daily email newsletter.