PACCAR (PCAR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of PACCAR (NASDAQ:PCAR) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
PCAR has been the subject of a number of other reports. Bank of America raised shares of PACCAR from a neutral rating to a buy rating and set a $70.00 target price for the company in a research report on Tuesday, January 2nd. Wells Fargo & Co increased their target price on shares of PACCAR from $75.00 to $80.00 and gave the company a market perform rating in a research report on Thursday, January 18th. BidaskClub raised shares of PACCAR from a hold rating to a buy rating in a research report on Thursday, December 7th. JPMorgan Chase & Co. set a $83.00 target price on shares of PACCAR and gave the company a buy rating in a research report on Wednesday, November 29th. Finally, Piper Jaffray Companies set a $67.00 target price on shares of PACCAR and gave the company a hold rating in a research report on Sunday, December 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. PACCAR currently has a consensus rating of Hold and a consensus price target of $75.65.
PACCAR (NASDAQ:PCAR) traded down $1.85 during trading on Thursday, hitting $67.19. 3,252,753 shares of the stock were exchanged, compared to its average volume of 2,734,277. PACCAR has a 1 year low of $61.93 and a 1 year high of $79.69. The company has a market cap of $23,650.01, a P/E ratio of 14.15, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.34, a current ratio of 2.49 and a debt-to-equity ratio of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Monday, February 12th. PACCAR’s payout ratio is currently 21.05%.
In other PACCAR news, VP Marco A. Davila purchased 570 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of $69.05 per share, for a total transaction of $39,358.50. Following the purchase, the vice president now owns 7,536 shares of the company’s stock, valued at approximately $520,360.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its stake in PACCAR by 1.9% in the 3rd quarter. Amalgamated Bank now owns 39,491 shares of the company’s stock worth $2,857,000 after purchasing an additional 733 shares in the last quarter. Commonwealth Bank of Australia lifted its stake in PACCAR by 1.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 42,437 shares of the company’s stock worth $3,065,000 after purchasing an additional 791 shares in the last quarter. DnB Asset Management AS lifted its stake in PACCAR by 2.0% in the 4th quarter. DnB Asset Management AS now owns 46,243 shares of the company’s stock worth $3,287,000 after purchasing an additional 900 shares in the last quarter. Heritage Investors Management Corp lifted its stake in PACCAR by 0.3% in the 4th quarter. Heritage Investors Management Corp now owns 285,340 shares of the company’s stock worth $20,282,000 after purchasing an additional 920 shares in the last quarter. Finally, MUFG Americas Holdings Corp lifted its stake in PACCAR by 43.7% in the 3rd quarter. MUFG Americas Holdings Corp now owns 3,162 shares of the company’s stock worth $229,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 64.40% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by Watch List News and is owned by of Watch List News. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.watchlistnews.com/paccar-pcar-raised-to-buy-at-valuengine/1907601.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.