PACCAR Inc. (PCAR) Given Average Rating of “Hold” by Brokerages
Shares of PACCAR Inc. (NASDAQ:PCAR) have earned a consensus rating of “Hold” from the twenty-three brokerages that are presently covering the company, Marketbeat.com reports. 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. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $71.71.
PCAR has been the subject of a number of research analyst reports. Zacks Investment Research cut PACCAR from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub cut PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a report on Thursday, June 15th. Bank of America Corporation cut PACCAR from a “buy” rating to a “neutral” rating and reduced their target price for the company from $78.00 to $70.00 in a report on Thursday, May 11th. Finally, OTR Global upgraded PACCAR to a “positive” rating in a research report on Tuesday, April 18th.
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In other news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction 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 directly owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.64% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. boosted its stake in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares during the last quarter. IFP Advisors Inc boosted its stake in shares of PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock valued at $123,000 after buying an additional 890 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares during the last quarter. Finally, Perkins Coie Trust Co boosted its stake in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 61.31% of the company’s stock.
PACCAR (NASDAQ PCAR) traded down 0.61% during mid-day trading on Friday, hitting $64.81. The company had a trading volume of 1,497,840 shares. PACCAR has a 12 month low of $53.38 and a 12 month high of $70.32. The company has a 50-day moving average price of $67.20 and a 200 day moving average price of $66.55. The firm has a market capitalization of $22.77 billion, a P/E ratio of 17.35 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The business had revenue of $4.40 billion during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that PACCAR will post $4.00 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Wednesday, August 16th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.54%. PACCAR’s dividend payout ratio is currently 26.74%.
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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