PACCAR (PCAR) Stock Rating Reaffirmed by Seaport Global Securities
PACCAR (NASDAQ:PCAR)‘s stock had its “neutral” rating restated by Seaport Global Securities in a research report issued on Tuesday. Seaport Global Securities also issued estimates for PACCAR’s Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.17 EPS, Q1 2018 earnings at $1.25 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $4.96 EPS.
Several other equities analysts have also commented on the stock. Deutsche Bank reiterated a “hold” rating and issued a $78.00 price target (up from $75.00) on shares of PACCAR in a research note on Monday, October 9th. Piper Jaffray Companies set a $67.00 price target on shares of PACCAR and gave the company a “hold” rating in a research note on Sunday, December 10th. ValuEngine lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Jefferies Group reiterated a “buy” rating and issued a $85.00 price target on shares of PACCAR in a research note on Thursday, October 19th. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. PACCAR currently has a consensus rating of “Hold” and a consensus price target of $75.32.
PACCAR (NASDAQ PCAR) opened at $76.54 on Tuesday. The company has a market cap of $26,711.83, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. PACCAR has a one year low of $61.93 and a one year high of $76.83. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75.
In related news, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. Insiders sold 106,598 shares of company stock valued at $7,597,908 over the last three months. Corporate insiders own 2.64% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FUKOKU MUTUAL LIFE INSURANCE Co lifted its holdings in shares of PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares during the period. Sun Life Financial INC lifted its holdings in shares of PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after purchasing an additional 2,585 shares during the period. Institute for Wealth Management LLC. acquired a new stake in shares of PACCAR during the second quarter worth $201,000. Cetera Investment Advisers acquired a new stake in PACCAR in the second quarter valued at $204,000. Finally, Hartland & Co. LLC acquired a new stake in PACCAR in the third quarter valued at $206,000. 62.26% of the stock is owned by hedge funds and other institutional investors.
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PACCAR Company Profile
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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