PACCAR Inc. (NASDAQ:PCAR)‘s stock had its “buy” rating reissued by research analysts at Jefferies Group LLC in a research note issued to investors on Thursday, October 19th. They currently have a $85.00 target price on the stock. Jefferies Group LLC’s price objective suggests a potential upside of 18.27% from the company’s previous close.
Other equities research analysts have also issued reports about the company. BidaskClub lowered PACCAR from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 24th. UBS AG reiterated a “buy” rating and issued a $76.00 price objective (up from $75.00) on shares of PACCAR in a research report on Wednesday, July 26th. Citigroup Inc. lifted their price objective on PACCAR from $74.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research upgraded PACCAR from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, August 22nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $72.00 price objective (up from $64.00) on shares of PACCAR in a research report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. PACCAR has an average rating of “Hold” and an average target price of $75.95.
Shares of PACCAR (NASDAQ:PCAR) opened at 71.87 on Thursday. The company has a market cap of $25.25 billion, a price-to-earnings ratio of 19.24 and a beta of 1.18. The firm has a 50-day moving average of $71.57 and a 200 day moving average of $67.10. PACCAR has a one year low of $53.38 and a one year high of $75.68.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.57 billion. During the same period last year, the company earned $0.98 EPS. PACCAR’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities research analysts anticipate that PACCAR will post $4.07 EPS for the current year.
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In other PACCAR news, insider T. Kyle Quinn sold 2,786 shares of the business’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 completion of the sale, the insider now owns 20,800 shares of the company’s stock, valued at $1,412,112. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.64% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PCAR. OppenheimerFunds Inc. lifted its position in shares of PACCAR by 2.3% in the first quarter. OppenheimerFunds Inc. now owns 30,437 shares of the company’s stock valued at $2,045,000 after acquiring an additional 697 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PACCAR by 12.9% in the first quarter. PNC Financial Services Group Inc. now owns 21,024 shares of the company’s stock valued at $1,413,000 after acquiring an additional 2,396 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in shares of PACCAR by 6.0% in the first quarter. Thrivent Financial For Lutherans now owns 12,907 shares of the company’s stock valued at $867,000 after acquiring an additional 730 shares in the last quarter. Global X Management Co. LLC lifted its position in shares of PACCAR by 27.6% in the first quarter. Global X Management Co. LLC now owns 3,235 shares of the company’s stock valued at $217,000 after acquiring an additional 700 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd purchased a new position in shares of PACCAR in the first quarter valued at about $3,668,000. 62.17% of the stock is 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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