PACCAR (NASDAQ:PCAR) had its price target lifted by stock analysts at Wells Fargo & Co from $75.00 to $80.00 in a research note issued to investors on Thursday. The firm currently has a “market perform” rating on the stock. Wells Fargo & Co’s price objective would indicate a potential upside of 3.21% from the company’s previous close.
Several other equities analysts also recently weighed in on the stock. Deutsche Bank restated a “hold” rating and set a $78.00 target price (up from $75.00) on shares of PACCAR in a report on Monday, October 9th. Piper Jaffray Companies set a $67.00 target price on shares of PACCAR and gave the company a “hold” rating in a report on Sunday, December 10th. ValuEngine cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Friday, November 17th. Jefferies Group reaffirmed a “buy” rating and set a $85.00 price target on shares of PACCAR in a research note on Thursday, October 19th. Finally, Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have given a buy rating to the company’s stock. PACCAR currently has an average rating of “Hold” and a consensus target price of $75.58.
PACCAR (PCAR) opened at $77.51 on Thursday. 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 has a twelve month low of $61.93 and a twelve month high of $77.64. The firm has a market cap of $26,863.02, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.62 and a beta of 1.22.
PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 24th. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion during the quarter, compared to the consensus estimate of $4.57 billion. During the same period last year, the firm posted $0.98 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts anticipate that PACCAR will post 4.19 earnings per share for the current fiscal year.
In related news, VP Alma Lily Ley sold 4,024 shares of the firm’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Michael Dozier sold 3,618 shares of PACCAR stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $69.02, for a total transaction of $249,714.36. The disclosure for this sale can be found here. Insiders sold 106,598 shares of company stock worth $7,597,908 over the last three months. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PCAR. FUKOKU MUTUAL LIFE INSURANCE Co lifted its position in PACCAR by 18.8% during the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock valued at $125,000 after buying an additional 300 shares in the last quarter. Sun Life Financial INC lifted its position in PACCAR by 19,884.6% during the second quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock valued at $172,000 after buying an additional 2,585 shares in the last quarter. Institute for Wealth Management LLC. acquired a new position in PACCAR during the second quarter valued at approximately $201,000. Cetera Investment Advisers acquired a new position in PACCAR during the second quarter valued at approximately $204,000. Finally, Hartland & Co. LLC acquired a new position in PACCAR during the third quarter valued at approximately $206,000. 62.26% of the stock is currently owned by hedge funds and other institutional investors.
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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