ValuEngine lowered shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research report report published on Tuesday.
A number of other equities research analysts have also issued reports on the stock. BidaskClub lowered shares of PACCAR from a sell rating to a strong sell rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of PACCAR from a hold rating to a buy rating and set a $74.00 price target on the stock in a report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a neutral rating to a buy rating and set a $79.00 price target on the stock in a report on Thursday, June 15th. Buckingham Research initiated coverage on shares of PACCAR in a report on Tuesday, September 5th. They issued a neutral rating and a $65.00 price target on the stock. Finally, Citigroup Inc. raised their price target on shares of PACCAR from $74.00 to $78.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. PACCAR presently has an average rating of Hold and a consensus price target of $75.42.
PACCAR (NASDAQ PCAR) traded up 0.03% during trading on Tuesday, reaching $72.95. 781,328 shares of the company traded hands. The firm’s 50 day moving average price is $69.80 and its 200 day moving average price is $66.74. PACCAR has a 12-month low of $53.38 and a 12-month high of $74.79. The firm has a market capitalization of $25.63 billion, a price-to-earnings ratio of 19.53 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The business had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 EPS. Equities research analysts expect that PACCAR will post $4.02 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a yield of 1.37%. PACCAR’s dividend payout ratio (DPR) is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of PACCAR 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 completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. BlackRock Inc. lifted its position in PACCAR by 2,119.4% during the 1st quarter. BlackRock Inc. now owns 23,936,276 shares of the company’s stock valued at $1,608,519,000 after acquiring an additional 22,857,778 shares during the period. Principal Financial Group Inc. lifted its position in PACCAR by 381.5% during the 2nd quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock valued at $169,932,000 after acquiring an additional 2,038,761 shares during the period. Renaissance Technologies LLC purchased a new position in PACCAR during the 2nd quarter valued at about $82,298,000. Vanguard Group Inc. lifted its position in PACCAR by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after acquiring an additional 1,164,896 shares during the period. Finally, Victory Capital Management Inc. lifted its position in PACCAR by 59.4% during the 2nd quarter. Victory Capital Management Inc. now owns 2,660,654 shares of the company’s stock valued at $175,710,000 after acquiring an additional 991,171 shares during the period. 62.13% of the stock is owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
What are top analysts saying about PACCAR Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PACCAR Inc. and related companies.