PACCAR Inc. (PCAR) PT Raised to $77.00
PACCAR Inc. (NASDAQ:PCAR) had its price target boosted by investment analysts at Wells Fargo & Company from $74.00 to $77.00 in a research note issued on Friday. The brokerage currently has a “market perform” rating on the stock. Wells Fargo & Company’s price target indicates a potential upside of 5.08% from the stock’s current price.
Other analysts also recently issued research reports about the company. BidaskClub downgraded PACCAR from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. UBS AG reaffirmed a “buy” rating and issued a $76.00 price target (up previously from $75.00) on shares of PACCAR in a report on Wednesday, July 26th. Citigroup Inc. upped their price target on PACCAR from $74.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $77.00 price target on shares of PACCAR in a report on Tuesday, October 3rd. Finally, Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. PACCAR presently has an average rating of “Hold” and an average target price of $74.32.
Shares of PACCAR (NASDAQ:PCAR) opened at 73.28 on Friday. PACCAR has a 12-month low of $53.38 and a 12-month high of $74.79. The stock has a market capitalization of $25.75 billion, a P/E ratio of 19.61 and a beta of 1.18. The firm’s 50-day moving average price is $68.72 and its 200 day moving average price is $66.58.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The firm had revenue of $4.40 billion during the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts predict that PACCAR will post $4.00 EPS for the current fiscal year.
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In other news, insider T. Kyle Quinn sold 2,786 shares of the 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 completion of the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.64% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PCAR. IFP Advisors Inc raised its holdings in shares of 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 buying an additional 890 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co increased its holdings in PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in PACCAR by 29.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after purchasing an additional 500 shares in the last quarter. Perkins Coie Trust Co increased its holdings in PACCAR by 102.8% during the 2nd quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after purchasing an additional 1,157 shares in the last quarter. Finally, Sun Life Financial INC increased its holdings in PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after purchasing an additional 2,585 shares in the last quarter. 62.13% of the stock is 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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