Investment Analysts’ Recent Ratings Updates for PACCAR (PCAR)
A number of research firms have changed their ratings and price targets for PACCAR (NASDAQ: PCAR):
- 8/8/2017 – PACCAR was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
- 7/31/2017 – PACCAR was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PACCAR’s earnings and revenues beat the Zacks Consensus Estimate in the second quarter. Compared with the year-ago figures, the company’s earnings per share were lower, whereas the revenue was higher. A strong balance sheet has been enabling it to invest in the development of new technologies, enhanced manufacturing facilities and after-market support. A stable market has also enabled PACCAR to project an increase in volume sales for 2017 in comparison to the previous year. However, a decline in used truck prices and a tough competition among peers in the commercial truck market remain a concern. The company’s shares have also significantly underperformed the industry it belongs to.”
- 7/26/2017 – PACCAR had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $72.00 price target on the stock, up previously from $64.00.
- 7/26/2017 – PACCAR had its “buy” rating reaffirmed by analysts at UBS AG. They now have a $76.00 price target on the stock, up previously from $75.00.
- 7/26/2017 – PACCAR had its price target raised by analysts at Citigroup Inc. from $74.00 to $78.00. They now have a “buy” rating on the stock.
- 7/24/2017 – PACCAR was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 7/12/2017 – PACCAR was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
- 7/12/2017 – PACCAR was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “buy” rating. They now have a $77.00 price target on the stock. According to Zacks, “Annual estimates for PACCAR have been going up of late. PACCAR benefits from a sizeable market share in the U.S. and Canada along with active capital deployment. The company’s expansion plans as well as rising European industry sales also inspire optimism. PACCAR is also well positioned in the key markets due to its strategic investments.”
- 7/6/2017 – PACCAR was given a new $75.00 price target on by analysts at UBS AG. They now have a “buy” rating on the stock.
- 6/27/2017 – PACCAR was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “PACCAR has underperformed the Zacks categorized Auto Manufacturers-Domestic industry over the last three months. The fall in the price of used trucks, which is mainly due to higher supply, is a headwind for the company. Also, the company faces tough competition in the commercial trucks market in U.S. and Canada and Europe. Moreover, the company has lowered down its 2017 expectations for Class 8 industry retail sales for the U.S. and Canada and industry sales in the above 16-ton truck market in Europe in comparison to 2016 figure.”
- 6/24/2017 – PACCAR was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
- 6/15/2017 – PACCAR was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $79.00 price target on the stock. They wrote, “We see 8 percent upside to FactSet consensus and note the upgrade shifts the mix of our Buy ratings to higher-returns businesses,” the firm said.Downgrading Terex On Valuation Goldman downgraded shares of Terex to Neutral from Buy, as the stock trades in-line with its 12-month price target of $37. The firm clarified that its Buy-rated stocks present 22-percent upside from current levels.The firm said it remains positive on Terex’s turnaround plan.”But with capital re-allocation initiatives nearly complete and the stock now trading at 13x our unchanged mid-cycle EPS estimate of $2.90, we believe the risk-reward has moved into balance,”
- 6/12/2017 – PACCAR was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PACCAR holds a strong market share in the U.S. and Canada and is well positioned in the key non-U.S. markets, backed by its strategic investments. It is expanding its global network of strategically located parts distribution centers (“PDC"). The company is optimistic about its expansion plans in South America and Russia and expects that this will enhance its manufacturing efficiency and production capacity. However, the price of used trucks has been declining, mainly due to higher supply. The company also faces tough competition in the commercial trucks market. It may also be affected by the expected decline in Class 8 industry retail sales. PACCAR has also underperformed the Zacks categorized Auto Manufacturers-Domestic industry over the last three months. “
PACCAR Inc. (PCAR) traded down 2.98% during midday trading on Thursday, hitting $65.21. The company had a trading volume of 2,402,889 shares. The stock has a market capitalization of $22.91 billion, a PE ratio of 17.45 and a beta of 1.14. The stock has a 50 day moving average price of $67.13 and a 200-day moving average price of $66.56. PACCAR Inc. has a 52 week low of $53.38 and a 52 week high of $70.32.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 25th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. PACCAR had a return on equity of 18.61% and a net margin of 7.77%. The company had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. During the same period in the prior year, the company posted $1.06 EPS. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that PACCAR Inc. will post $4.00 EPS for the current year.
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 given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Monday, August 14th. PACCAR’s dividend payout ratio is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $67.89, for a total transaction of $189,141.54. Following the transaction, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.64% of the company’s stock.
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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