PACCAR (PCAR) Given a $67.00 Price Target at Piper Jaffray Companies
PCAR has been the subject of several other reports. Deutsche Bank dropped their price objective on PACCAR from $78.00 to $77.00 and set a hold rating for the company in a report on Wednesday, October 25th. Zacks Investment Research upgraded PACCAR from a hold rating to a buy rating and set a $74.00 price target on the stock in a research note on Tuesday, September 5th. J P Morgan Chase & Co upgraded PACCAR from a neutral rating to an overweight rating and lifted their price target for the company from $70.00 to $83.00 in a research note on Wednesday, October 4th. Robert W. Baird reiterated a hold rating and issued a $80.00 price target on shares of PACCAR in a research note on Thursday, October 12th. Finally, Citigroup lifted their price target on PACCAR from $78.00 to $81.00 and gave the company a buy rating in a research note on Friday, October 13th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $75.15.
Shares of PACCAR (NASDAQ:PCAR) traded up $0.75 during midday trading on Friday, reaching $71.97. The company’s stock had a trading volume of 1,569,300 shares, compared to its average volume of 1,922,767. The firm has a market cap of $25,310.00, a PE ratio of 18.45, a PEG ratio of 1.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40. PACCAR has a 52-week low of $61.93 and a 52-week high of $75.68.
The company also recently disclosed a special dividend, which will be paid on Thursday, January 4th. Investors of record on Thursday, December 14th will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, December 13th. This represents a yield of 1.4%. PACCAR’s dividend payout ratio is currently 25.64%.
In related news, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $69.02, for a total transaction of $249,714.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the sale, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The disclosure for this sale can be found here. Insiders have sold a total of 106,598 shares of company stock worth $7,597,908 in the last 90 days. 2.64% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. IFP Advisors Inc grew its position in shares of PACCAR by 91.1% in the 2nd 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. FUKOKU MUTUAL LIFE INSURANCE Co grew its position in shares of PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC grew 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 valued at $172,000 after buying an additional 2,585 shares during the last quarter. Hartland & Co. LLC bought a new stake in shares of PACCAR in the 3rd quarter valued at about $206,000. Finally, BB&T Securities LLC bought a new stake in shares of PACCAR in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 62.36% of the company’s stock.
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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