PACCAR (NASDAQ:PCAR) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a report released on Tuesday.
Several other research analysts have also recently issued reports on PCAR. ValuEngine raised PACCAR from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 14th. Zacks Investment Research raised PACCAR from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, July 16th. BMO Capital Markets cut PACCAR from an “outperform” rating to a “market perform” rating and set a $80.00 target price on the stock. in a research report on Wednesday, July 18th. Citigroup lifted their target price on PACCAR from $65.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Finally, Morgan Stanley set a $64.00 target price on PACCAR and gave the company a “sell” rating in a research report on Wednesday, July 25th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $68.73.
NASDAQ PCAR opened at $58.46 on Tuesday. The company has a market cap of $20.44 billion, a PE ratio of 13.72, a PEG ratio of 0.88 and a beta of 1.39. PACCAR has a 52 week low of $53.95 and a 52 week high of $79.69. The company has a quick ratio of 1.05, a current ratio of 1.31 and a debt-to-equity ratio of 0.69.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 23rd. The company reported $1.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.04. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.50 billion. PACCAR had a return on equity of 23.52% and a net margin of 9.73%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.14 earnings per share. On average, equities analysts anticipate that PACCAR will post 6.16 earnings per share for the current fiscal year.
PACCAR declared that its board has authorized a stock buyback program on Monday, July 9th that allows the company to repurchase $300.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the business. Vigilant Capital Management LLC purchased a new position in PACCAR in the second quarter worth $105,000. Valeo Financial Advisors LLC boosted its position in PACCAR by 85.5% in the third quarter. Valeo Financial Advisors LLC now owns 2,148 shares of the company’s stock worth $123,000 after purchasing an additional 990 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its position in PACCAR by 5,888.2% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock worth $126,000 after purchasing an additional 2,002 shares during the last quarter. Amussen Hunsaker Associates LLC purchased a new position in PACCAR in the second quarter worth $132,000. Finally, HighPoint Advisor Group LLC purchased a new position in PACCAR in the third quarter worth $178,000. 61.33% of the stock is currently owned by institutional investors and hedge funds.
PACCAR Company Profile
PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
Recommended Story: Return on Equity (ROE)
Receive News & Ratings for PACCAR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PACCAR and related companies with MarketBeat.com's FREE daily email newsletter.