Deutsche Bank AG Reiterates “Hold” Rating for PACCAR Inc. (PCAR)
PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “hold” rating restated by investment analysts at Deutsche Bank AG in a research note issued to investors on Monday. They currently have a $78.00 price objective on the stock, up from their previous price objective of $75.00. Deutsche Bank AG’s price objective suggests a potential upside of 6.41% from the company’s previous close.
A number of other equities analysts have also recently commented on PCAR. Goldman Sachs Group, Inc. (The) raised PACCAR from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Thursday, June 15th. BidaskClub cut PACCAR from a “sell” rating to a “strong sell” rating in a report on Saturday, June 24th. UBS AG set a $75.00 price target on PACCAR and gave the stock a “buy” rating in a report on Thursday, July 6th. Zacks Investment Research raised PACCAR from a “sell” rating to a “buy” rating and set a $77.00 price target for the company in a report on Wednesday, July 12th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $72.00 price target (up previously from $64.00) on shares of PACCAR in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $74.58.
Shares of PACCAR (NASDAQ:PCAR) traded up 0.03% during mid-day trading on Monday, hitting $73.30. The stock had a trading volume of 2,041,679 shares. The firm has a market cap of $25.76 billion, a PE ratio of 19.62 and a beta of 1.17. PACCAR has a 52 week low of $53.38 and a 52 week high of $74.79. The stock has a 50 day moving average price of $68.72 and a 200 day moving average price of $66.58.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.29 billion. During the same quarter in the previous year, the firm earned $1.06 EPS. PACCAR’s revenue was up 6.9% on a year-over-year basis. Equities research analysts expect that PACCAR will post $4.01 EPS for the current fiscal year.
In other PACCAR 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 value of $189,141.54. Following the sale, the insider now owns 20,800 shares in the company, valued at approximately $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.64% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. BlackRock Inc. boosted its position in shares of PACCAR by 6.6% during the 2nd quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock valued at $1,684,572,000 after purchasing an additional 1,572,038 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PACCAR by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock valued at $1,621,636,000 after purchasing an additional 1,164,896 shares in the last quarter. State Street Corp boosted its position in shares of PACCAR by 0.9% during the 1st quarter. State Street Corp now owns 15,141,782 shares of the company’s stock valued at $1,017,524,000 after purchasing an additional 135,416 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of PACCAR by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock valued at $400,938,000 after purchasing an additional 580,223 shares in the last quarter. Finally, FMR LLC boosted its position in shares of PACCAR by 20.7% during the 1st quarter. FMR LLC now owns 4,832,949 shares of the company’s stock valued at $324,775,000 after purchasing an additional 829,031 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.
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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