PACCAR (PCAR) Earns “Neutral” Rating from Seaport Global Securities
PACCAR (NASDAQ:PCAR)‘s stock had its “neutral” rating restated by Seaport Global Securities in a report issued on Tuesday. Seaport Global Securities also issued estimates for PACCAR’s Q4 2017 earnings at $1.09 EPS, FY2017 earnings at $4.17 EPS, Q1 2018 earnings at $1.25 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.25 EPS, Q4 2018 earnings at $1.14 EPS, FY2018 earnings at $4.90 EPS and FY2019 earnings at $4.96 EPS.
Several other equities analysts have also commented on the stock. Deutsche Bank reaffirmed a “hold” rating and set a $78.00 price target (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. Piper Jaffray Companies set a $67.00 price target on shares of PACCAR and gave the stock a “hold” rating in a research report on Sunday, December 10th. ValuEngine lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Jefferies Group reaffirmed a “buy” rating and set a $85.00 price target on shares of PACCAR in a research report on Thursday, October 19th. Finally, Zacks Investment Research lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $75.58.
Shares of PACCAR (NASDAQ:PCAR) traded down $0.14 on Tuesday, hitting $76.40. 1,670,000 shares of the company traded hands, compared to its average volume of 1,960,000. The company has a quick ratio of 2.40, a current ratio of 2.56 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $26,860.00, a P/E ratio of 19.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. PACCAR has a fifty-two week low of $61.93 and a fifty-two week high of $77.43.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to analyst estimates of $4.57 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. PACCAR’s revenue for the quarter was up 19.7% compared to the same quarter last year. equities research analysts expect that PACCAR will post 4.19 earnings per share for the current fiscal year.
In related news, VP C Michael Dozier sold 3,618 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 98,956 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at $213,068,069.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,598 shares of company stock valued at $7,597,908. Company insiders own 2.64% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FUKOKU MUTUAL LIFE INSURANCE Co grew 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. Sun Life Financial INC lifted its position 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 buying an additional 2,585 shares during the last quarter. Institute for Wealth Management LLC. bought a new position in shares of PACCAR in the 2nd quarter worth about $201,000. Cetera Investment Advisers bought a new position in shares of PACCAR in the 2nd quarter worth about $204,000. Finally, Hartland & Co. LLC bought a new position in shares of PACCAR in the 3rd quarter worth about $206,000. 62.26% 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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