PACCAR’s (PCAR) “Buy” Rating Reaffirmed at UBS AG
UBS AG reissued their buy rating on shares of PACCAR Inc. (NASDAQ:PCAR) in a research report report published on Wednesday morning, www.flashratings.com reports. UBS AG currently has a $76.00 price target on the stock, up from their prior price target of $75.00.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of PACCAR from a hold rating to a buy rating and set a $70.00 target price for the company in a research report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 target price on shares of PACCAR and gave the stock a buy rating in a research report on Sunday, May 28th. Seaport Global Securities reissued a buy rating and set a $80.00 target price on shares of PACCAR in a research report on Thursday, April 6th. BMO Capital Markets reissued a buy rating and set a $85.00 target price on shares of PACCAR in a research report on Thursday, April 20th. Finally, Goldman Sachs Group, Inc. (The) raised shares of PACCAR from a neutral rating to a buy rating and set a $79.00 target price for the company in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $72.00.
Shares of PACCAR (NASDAQ PCAR) opened at 68.18 on Wednesday. The stock’s 50 day moving average price is $66.37 and its 200 day moving average price is $66.48. PACCAR has a 52 week low of $53.38 and a 52 week high of $70.32. The firm has a market capitalization of $23.95 billion, a P/E ratio of 18.25 and a beta of 1.14.
PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion during the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. On average, analysts predict that PACCAR will post $3.93 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Investors of record on Wednesday, August 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, August 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. PACCAR’s payout ratio is currently 26.74%.
In other PACCAR news, VP Alma Lily Ley sold 904 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $67.39, for a total transaction of $60,920.56. Following the sale, the vice president now directly owns 1,679 shares of the company’s stock, valued at $113,147.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.64% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of PCAR. Benjamin F. Edwards & Company Inc. boosted its stake in shares of PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock valued at $107,000 after buying an additional 95 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in shares of PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock valued at $108,000 after buying an additional 400 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of PACCAR by 29.9% in the second quarter. State of Alaska Department of Revenue now owns 2,175 shares of the company’s stock valued at $143,000 after buying an additional 500 shares in the last quarter. Perkins Coie Trust Co boosted its stake in shares of PACCAR by 102.8% in the second quarter. Perkins Coie Trust Co now owns 2,282 shares of the company’s stock valued at $151,000 after buying an additional 1,157 shares in the last quarter. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in shares of PACCAR during the first quarter valued at $202,000. 61.45% of the stock is currently owned by hedge funds and other institutional investors.
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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