PACCAR Inc. (PCAR) Earns “Hold” Rating from Robert W. Baird
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “hold” rating reiterated by Robert W. Baird in a note issued to investors on Thursday. They currently have a $80.00 target price on the stock. Robert W. Baird’s price objective suggests a potential upside of 9.80% from the company’s current price.
Several other research analysts have also recently issued reports on the company. BidaskClub cut PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Thursday, June 15th. Buckingham Research initiated coverage on PACCAR in a research report on Tuesday, September 5th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, ValuEngine raised PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $75.26.
Shares of PACCAR (NASDAQ PCAR) traded down 0.08% during trading on Thursday, hitting $72.80. 1,464,998 shares of the company were exchanged. PACCAR has a 1-year low of $53.38 and a 1-year high of $74.79. The stock has a market capitalization of $25.58 billion, a PE ratio of 19.49 and a beta of 1.18. The company has a 50 day moving average of $69.54 and a 200-day moving average of $66.69.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. PACCAR’s revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. On average, analysts forecast that PACCAR will post $4.02 earnings per share for the current year.
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In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of PACCAR stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total value of $189,141.54. Following the sale, the insider now owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.64% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in PACCAR by 91.1% in the 2nd quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after acquiring an additional 890 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after acquiring an additional 300 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of PACCAR by 29.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock worth $143,000 after purchasing an additional 500 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of PACCAR by 102.8% in the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock worth $151,000 after purchasing an additional 1,157 shares during the period. Finally, Sun Life Financial INC boosted its holdings in shares of PACCAR by 19,884.6% in the 2nd 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. 62.13% of the stock is currently owned by institutional investors and hedge funds.
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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