Paccar Inc. (PCAR) Price Target Increased to $50.00 by Analysts at Barclays PLC
A number of other research analysts also recently weighed in on the company. Bank of America Corp. reissued a buy rating on shares of Paccar in a report on Thursday, June 16th. Zacks Investment Research raised Paccar from a sell rating to a hold rating in a report on Thursday, July 28th. Jefferies Group increased their target price on Paccar from $65.00 to $70.00 and gave the company a buy rating in a report on Thursday, September 1st. JPMorgan Chase & Co. downgraded Paccar from a neutral rating to an underweight rating and lowered their target price for the company from $58.00 to $47.00 in a report on Monday, June 27th. Finally, Credit Agricole SA initiated coverage on Paccar in a report on Friday, September 30th. They issued an outperform rating and a $65.00 target price on the stock. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. Paccar has an average rating of Hold and an average price target of $56.33.
Shares of Paccar (NASDAQ:PCAR) traded down 1.39% on Wednesday, hitting $56.65. The stock had a trading volume of 408,135 shares. Paccar has a 52 week low of $43.46 and a 52 week high of $60.86. The stock has a market capitalization of $19.86 billion, a P/E ratio of 30.07 and a beta of 1.51. The firm has a 50-day moving average price of $58.27 and a 200-day moving average price of $56.22.
Paccar (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. Paccar had a return on equity of 21.92% and a net margin of 3.71%. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $4.17 billion. During the same period last year, the firm posted $1.26 earnings per share. Paccar’s revenue was down 14.0% compared to the same quarter last year. Equities analysts expect that Paccar will post $3.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.67%. The ex-dividend date is Wednesday, November 16th. Paccar’s dividend payout ratio is presently 51.34%.
A number of institutional investors have recently added to or reduced their stakes in PCAR. Boston Advisors LLC boosted its position in Paccar by 3.0% in the second quarter. Boston Advisors LLC now owns 7,575 shares of the company’s stock valued at $393,000 after buying an additional 220 shares in the last quarter. Wellington Management Group LLP boosted its position in Paccar by 2.7% in the first quarter. Wellington Management Group LLP now owns 2,216,874 shares of the company’s stock valued at $121,241,000 after buying an additional 57,859 shares in the last quarter. Legal & General Group Plc boosted its position in Paccar by 2.1% in the first quarter. Legal & General Group Plc now owns 1,522,905 shares of the company’s stock valued at $83,284,000 after buying an additional 30,642 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Paccar during the first quarter valued at $1,224,000. Finally, Aviva PLC boosted its position in Paccar by 17.5% in the second quarter. Aviva PLC now owns 211,468 shares of the company’s stock valued at $10,969,000 after buying an additional 31,451 shares in the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.
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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