PACCAR’s (PCAR) “Buy” Rating Reiterated at Stifel Nicolaus
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “buy” rating reissued by equities researchers at Stifel Nicolaus in a report released on Wednesday. They presently have a $72.00 target price on the stock, up from their previous target price of $64.00. Stifel Nicolaus’ price objective would suggest a potential upside of 4.90% from the stock’s previous close.
Other equities research analysts have also issued reports about the stock. UBS AG raised shares of PACCAR from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $66.00 to $75.00 in a report on Tuesday, June 6th. Jefferies Group LLC set a $77.00 price objective on shares of PACCAR and gave the company a “buy” rating in a report on Sunday, May 28th. BidaskClub lowered shares of PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. Zacks Investment Research raised shares of PACCAR from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Tuesday, June 6th. Finally, Bank of America Corporation lowered shares of PACCAR from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $78.00 to $70.00 in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company. PACCAR currently has an average rating of “Hold” and a consensus target price of $71.59.
Shares of PACCAR (NASDAQ:PCAR) traded up 0.35% during mid-day trading on Wednesday, reaching $68.88. The company’s stock had a trading volume of 562,582 shares. PACCAR has a one year low of $53.38 and a one year high of $70.12. The firm has a market cap of $24.20 billion, a PE ratio of 17.02 and a beta of 1.14. The firm’s 50 day moving average is $65.81 and its 200 day moving average is $66.41.
PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 8.56% and a return on equity of 19.13%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. On average, equities analysts anticipate that PACCAR will post $3.75 earnings per share for the current fiscal year.
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In other news, VP Alma Lily Ley sold 904 shares of the 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 approximately $113,147.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.64% of the company’s stock.
Large investors have recently bought and sold shares of the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in PACCAR by 76.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 50,819 shares of the company’s stock valued at $3,356,000 after buying an additional 22,089 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in PACCAR during the second quarter valued at about $409,000. Parkwood LLC raised its stake in PACCAR by 480.9% in the second quarter. Parkwood LLC now owns 27,871 shares of the company’s stock valued at $1,841,000 after buying an additional 23,073 shares during the last quarter. LGT Capital Partners LTD. raised its stake in PACCAR by 12.2% in the second quarter. LGT Capital Partners LTD. now owns 12,780 shares of the company’s stock valued at $844,000 after buying an additional 1,390 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in PACCAR by 4.6% in the second quarter. Russell Investments Group Ltd. now owns 526,584 shares of the company’s stock valued at $34,773,000 after buying an additional 23,112 shares during the last quarter. 61.45% of the stock is currently owned by institutional investors and hedge funds.
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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