PACCAR Inc. (PCAR) Cut to Hold at ValuEngine
ValuEngine cut shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research note released on Friday morning.
Several other research analysts have also recently weighed in on PCAR. BidaskClub raised shares of PACCAR from a sell rating to a hold rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a buy rating and issued a $72.00 price target (up previously from $64.00) on shares of PACCAR in a report on Wednesday, July 26th. Citigroup Inc. upped 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. UBS AG reissued a buy rating and issued a $76.00 target price (up previously from $75.00) on shares of PACCAR in a research note on Wednesday, July 26th. Finally, Zacks Investment Research cut PACCAR from a buy rating to a hold rating in a research note on Monday, July 31st. Two research 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 has an average rating of Hold and an average target price of $75.95.
PACCAR (NASDAQ PCAR) opened at $66.69 on Friday. The firm has a market cap of $23,448.88, a price-to-earnings ratio of 17.10, a PEG ratio of 1.60 and a beta of 1.24. PACCAR has a 1-year low of $58.78 and a 1-year high of $75.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, topping 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 business’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. research analysts expect that PACCAR will post 4.18 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders 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 annualized dividend and a yield of 1.50%. PACCAR’s payout ratio is 25.64%.
In other news, insider Mark C. Pigott sold 98,956 shares of the stock in a transaction dated 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 completion of 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 document filed with the SEC, which is accessible through the SEC website. Also, VP C Michael Dozier sold 3,618 shares of the stock in a transaction dated 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. Over the last quarter, insiders have sold 106,598 shares of company stock valued at $7,597,908. 2.64% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Koch Industries Inc. purchased a new stake in shares of PACCAR during the second quarter worth about $213,000. Principal Financial Group Inc. boosted its holdings in shares of PACCAR by 381.5% during the second quarter. Principal Financial Group Inc. now owns 2,573,188 shares of the company’s stock worth $169,932,000 after purchasing an additional 2,038,761 shares during the period. Delta Lloyd Asset Management N.V. purchased a new stake in shares of PACCAR during the second quarter worth about $3,038,000. BlueMountain Capital Management LLC purchased a new stake in shares of PACCAR during the second quarter worth about $2,771,000. Finally, Brighton Jones LLC purchased a new stake in shares of PACCAR during the second quarter worth about $3,338,000. Institutional investors own 62.37% of the company’s stock.
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.
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