PACCAR Inc (NASDAQ:PCAR) VP David J. Danforth sold 651 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $59.44, for a total value of $38,695.44. Following the completion of the transaction, the vice president now directly owns 5,453 shares of the company’s stock, valued at $324,126.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ:PCAR traded down $1.50 during trading hours on Friday, hitting $58.36. 1,637,782 shares of the company’s stock traded hands, compared to its average volume of 2,797,397. PACCAR Inc has a 52 week low of $53.95 and a 52 week high of $79.69. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.05 and a current ratio of 2.63. The firm has a market capitalization of $21.00 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of 0.90 and a beta of 1.39.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.04. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter last year, the business posted $1.14 earnings per share. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities analysts forecast that PACCAR Inc will post 6.16 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vigilant Capital Management LLC purchased a new stake in PACCAR during the second quarter valued at about $105,000. Valeo Financial Advisors LLC raised its position in PACCAR by 85.5% during the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock valued at $123,000 after purchasing an additional 990 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in PACCAR by 5,888.2% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after purchasing an additional 2,002 shares in the last quarter. Amussen Hunsaker Associates LLC purchased a new stake in PACCAR during the second quarter valued at about $132,000. Finally, HighPoint Advisor Group LLC purchased a new stake in PACCAR during the third quarter valued at about $178,000. Institutional investors and hedge funds own 61.33% of the company’s stock.
PCAR has been the subject of a number of analyst reports. BidaskClub raised PACCAR from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Credit Suisse Group dropped their price objective on PACCAR from $69.00 to $60.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Argus lowered PACCAR from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. They noted that the move was a valuation call. Finally, Citigroup lifted their price objective on PACCAR from $65.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, July 25th. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $68.73.
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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