Mizuho started coverage on shares of PACCAR (NASDAQ:PCAR) in a research note released on Friday morning, MarketBeat.com reports. The firm issued a neutral rating and a $70.00 price target on the stock.
Several other analysts have also issued reports on the stock. Morgan Stanley started coverage on shares of PACCAR in a research report on Friday, March 2nd. They issued an underweight rating and a $69.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on shares of PACCAR from $74.00 to $72.00 and set a hold rating on the stock in a research report on Tuesday, April 10th. Zacks Investment Research lowered shares of PACCAR from a buy rating to a hold rating in a research report on Tuesday, April 3rd. Deutsche Bank lowered shares of PACCAR from a hold rating to a sell rating and set a $77.00 target price on the stock. in a research report on Monday, March 19th. Finally, ValuEngine lowered shares of PACCAR from a buy rating to a hold rating in a research report on Tuesday, March 13th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. PACCAR has a consensus rating of Hold and a consensus price target of $73.30.
PACCAR traded down $0.08, hitting $61.96, during midday trading on Friday, according to MarketBeat.com. The company had a trading volume of 1,714,961 shares, compared to its average volume of 1,840,564. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.45 and a quick ratio of 2.29. The firm has a market capitalization of $21.83 billion, a price-to-earnings ratio of 14.54, a P/E/G ratio of 1.13 and a beta of 1.21. PACCAR has a fifty-two week low of $60.36 and a fifty-two week high of $79.69.
PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, April 24th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.31 by $0.14. The company had revenue of $5.32 billion for the quarter, compared to analyst estimates of $5.01 billion. PACCAR had a net margin of 8.99% and a return on equity of 21.26%. The business’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. sell-side analysts expect that PACCAR will post 5.65 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 5th. Shareholders of record on Tuesday, May 15th were given a $0.28 dividend. The ex-dividend date of this dividend was Monday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 1.81%. PACCAR’s payout ratio is 26.29%.
In other PACCAR news, insider T. Kyle Quinn sold 9,964 shares of the business’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $64.69, for a total value of $644,571.16. Following the transaction, the insider now directly owns 32,000 shares in the company, valued at $2,070,080. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP C Michael Dozier sold 13,348 shares of the business’s stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $63.45, for a total transaction of $846,930.60. Following the completion of the transaction, the vice president now owns 8,860 shares in the company, valued at $562,167. The disclosure for this sale can be found here. 2.64% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC acquired a new position in PACCAR in the fourth quarter valued at about $7,733,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of PACCAR by 18.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 33,607 shares of the company’s stock worth $2,389,000 after acquiring an additional 5,207 shares during the last quarter. J. Goldman & Co LP bought a new position in shares of PACCAR in the fourth quarter worth about $5,527,000. Envestnet Asset Management Inc. raised its stake in shares of PACCAR by 4,186.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 95,197 shares of the company’s stock worth $6,766,000 after acquiring an additional 92,976 shares during the last quarter. Finally, Two Sigma Securities LLC bought a new position in shares of PACCAR in the fourth quarter worth about $226,000. Hedge funds and other institutional investors own 62.96% of the company’s stock.
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.
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