PACCAR Inc. (PCAR) Stock Rating Reaffirmed by Royal Bank Of Canada
Royal Bank Of Canada reiterated their buy rating on shares of PACCAR Inc. (NASDAQ:PCAR) in a research report report published on Tuesday. Royal Bank Of Canada currently has a $77.00 price objective on the stock.
PCAR has been the subject of several other reports. Citigroup Inc. upped their price target on PACCAR from $74.00 to $78.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. Zacks Investment Research upgraded PACCAR from a hold rating to a buy rating and set a $80.00 price target for the company in a research note on Tuesday, September 26th. BidaskClub upgraded PACCAR from a strong sell rating to a sell rating in a research note on Wednesday, July 12th. Robert W. Baird restated a hold rating and issued a $67.00 price target on shares of PACCAR in a research note on Friday, September 1st. Finally, Stifel Nicolaus restated a hold rating and issued a $72.00 price target on shares of PACCAR in a research note on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. PACCAR presently has a consensus rating of Hold and an average price target of $74.32.
Shares of PACCAR (NASDAQ:PCAR) opened at 73.28 on Tuesday. The stock has a market capitalization of $25.75 billion, a P/E ratio of 19.61 and a beta of 1.18. The company has a 50-day moving average of $68.72 and a 200-day moving average of $66.58. PACCAR has a 52 week low of $53.38 and a 52 week high of $74.79.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.07. The company 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 firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 EPS. On average, analysts anticipate that PACCAR will post $4.00 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 annualized dividend and a yield of 1.36%. PACCAR’s payout ratio is presently 26.74%.
In related 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 transaction of $189,141.54. Following the sale, the insider now owns 20,800 shares in the company, valued at approximately $1,412,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.64% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its stake in PACCAR by 91.1% in the second quarter. IFP Advisors Inc now owns 1,867 shares of the company’s stock worth $123,000 after purchasing an additional 890 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in PACCAR by 18.8% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after purchasing an additional 300 shares during the period. State of Alaska Department of Revenue increased its stake in PACCAR by 29.9% in the second 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 increased its stake in PACCAR by 102.8% in the second 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 increased its stake in PACCAR by 19,884.6% in the second 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. Institutional investors and hedge funds own 62.13% of the company’s stock.
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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