Traders Buy Shares of Paccar Inc. (PCAR) on Weakness
Traders purchased shares of Paccar Inc. (NASDAQ:PCAR) on weakness during trading on Friday. $25.69 million flowed into the stock on the tick-up and $16.96 million flowed out of the stock on the tick-down, for a money net flow of $8.73 million into the stock. Of all stocks tracked, Paccar had the 53rd highest net in-flow for the day. Paccar traded down ($0.34) for the day and closed at $59.21
A number of equities research analysts have weighed in on the company. Goldman Sachs Group Inc. downgraded Paccar from a “buy” rating to a “neutral” rating and reduced their target price for the company from $67.00 to $63.00 in a report on Thursday, June 2nd. Bank of America Corp. raised Paccar from a “neutral” rating to a “buy” rating and raised their target price for the company from $55.00 to $70.00 in a report on Monday, May 9th. Zacks Investment Research raised Paccar from a “sell” rating to a “hold” rating in a report on Thursday, July 28th. Jefferies Group raised their target price on Paccar from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded Paccar from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $58.00 to $47.00 in a report on Monday, June 27th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Paccar has an average rating of “Hold” and a consensus target price of $56.00.
The company’s 50 day moving average price is $58.10 and its 200 day moving average price is $55.25. The firm has a market capitalization of $20.75 billion and a price-to-earnings ratio of 31.43.
Paccar (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. The business had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.17 billion. The business’s revenue was down 14.0% on a year-over-year basis. During the same quarter last year, the business posted $1.26 earnings per share. On average, equities analysts anticipate that Paccar Inc. will post $3.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 2nd. Shareholders of record on Friday, August 12th were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, August 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.62%.
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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