PACCAR Inc. (NASDAQ:PCAR) Receives “Buy” Rating from Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of PACCAR Inc. (NASDAQ:PCAR) in a research note released on Wednesday morning. The brokerage currently has a $72.00 target price on the stock, up from their previous target price of $64.00.
Other equities research analysts also recently issued research reports about the company. UBS AG upgraded PACCAR from a neutral rating to a buy rating and boosted their price objective for the company from $66.00 to $75.00 in a report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 price objective on PACCAR and gave the company a buy rating in a report on Sunday, May 28th. BidaskClub downgraded PACCAR from a sell rating to a strong sell rating in a report on Saturday, June 24th. Zacks Investment Research upgraded PACCAR from a hold rating to a buy rating and set a $70.00 price objective for the company in a report on Tuesday, June 6th. Finally, Bank of America Corporation downgraded PACCAR from a buy rating to a neutral rating and decreased their price objective for the company from $78.00 to $70.00 in a report on Thursday, May 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $72.00.
PACCAR (NASDAQ PCAR) opened at 68.18 on Wednesday. The firm has a market cap of $23.95 billion, a P/E ratio of 18.25 and a beta of 1.14. The firm’s 50-day moving average price is $66.37 and its 200-day moving average price is $66.48. PACCAR has a 52-week low of $53.38 and a 52-week high of $70.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.06 earnings per share. Equities research analysts expect that PACCAR will post $3.93 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 16th will be given a $0.25 dividend. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a yield of 1.47%. PACCAR’s dividend payout ratio is currently 26.74%.
In other PACCAR news, VP Alma Lily Ley sold 904 shares of the business’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total value of $60,920.56. Following the transaction, the vice president now owns 1,679 shares of the company’s stock, valued at $113,147.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.64% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PCAR. Teachers Advisors LLC boosted its position in PACCAR by 61.0% in the fourth quarter. Teachers Advisors LLC now owns 1,330,824 shares of the company’s stock valued at $85,040,000 after buying an additional 504,090 shares in the last quarter. Kentucky Retirement Systems acquired a new position in PACCAR during the fourth quarter valued at $1,625,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in PACCAR during the fourth quarter valued at $725,000. Chevy Chase Trust Holdings Inc. boosted its position in PACCAR by 3.1% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 304,494 shares of the company’s stock valued at $20,462,000 after buying an additional 9,183 shares in the last quarter. Finally, Boltwood Capital Management acquired a new position in PACCAR during the first quarter valued at $201,000. 61.45% of the stock is currently owned by institutional investors and hedge funds.
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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