PACCAR (NASDAQ:PCAR) had its price objective raised by research analysts at Wells Fargo & Co from $75.00 to $80.00 in a research note issued to investors on Thursday. The brokerage currently has a “market perform” rating on the stock. Wells Fargo & Co’s target price would suggest a potential upside of 4.52% from the stock’s previous close.
Several other research analysts have also recently issued reports on the company. Deutsche Bank reaffirmed a “hold” rating and set a $78.00 price objective (up from $75.00) on shares of PACCAR in a research report on Monday, October 9th. Piper Jaffray Companies set a $67.00 price objective on PACCAR and gave the stock a “hold” rating in a research report on Sunday, December 10th. ValuEngine cut PACCAR from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Jefferies Group reaffirmed a “buy” rating and set a $85.00 price objective on shares of PACCAR in a research report on Thursday, October 19th. Finally, Zacks Investment Research cut PACCAR from a “buy” rating to a “hold” rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $75.58.
PACCAR (NASDAQ PCAR) traded up $0.57 during trading hours on Thursday, hitting $76.54. The stock had a trading volume of 1,493,300 shares, compared to its average volume of 2,392,937. The firm has a market cap of $27,090.00, a PE ratio of 19.63, a P/E/G ratio of 1.61 and a beta of 1.22. PACCAR has a twelve month low of $61.93 and a twelve month high of $76.83. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 24th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.08 by $0.06. The business had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.57 billion. PACCAR had a return on equity of 18.77% and a net margin of 7.61%. The business’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. research analysts forecast that PACCAR will post 4.19 EPS for the current fiscal year.
In other PACCAR news, insider Mark C. Pigott sold 98,956 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the completion of the sale, the insider now directly owns 2,985,401 shares of the company’s stock, valued at approximately $213,068,069.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total value of $285,704.00. Following the sale, the vice president now directly owns 24,319 shares of the company’s stock, valued at $1,726,649. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,598 shares of company stock valued at $7,597,908. Insiders own 2.64% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of PACCAR by 18.8% during the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares in the last quarter. Sun Life Financial INC raised its stake in shares of PACCAR by 19,884.6% during the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares in the last quarter. Hartland & Co. LLC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $206,000. BB&T Securities LLC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $210,000. Finally, Brown Advisory Securities LLC purchased a new position in shares of PACCAR during the 3rd quarter worth approximately $214,000. 62.26% of the stock is owned by hedge funds and other institutional investors.
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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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