PACCAR Inc. (PCAR) Rating Lowered to Hold at ValuEngine
ValuEngine cut shares of PACCAR Inc. (NASDAQ:PCAR) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.
Other analysts have also issued research reports about the company. Zacks Investment Research raised PACCAR from a hold rating to a buy rating and set a $74.00 target price on the stock in a research report on Tuesday, September 5th. BidaskClub raised PACCAR from a hold rating to a buy rating in a research report on Tuesday, August 8th. J P Morgan Chase & Co raised PACCAR from a neutral rating to an overweight rating and boosted their target price for the company from $70.00 to $83.00 in a research report on Wednesday, October 4th. Robert W. Baird reissued a hold rating and issued a $67.00 target price on shares of PACCAR in a research report on Friday, September 1st. Finally, Deutsche Bank AG reissued a hold rating and issued a $78.00 target price (up previously from $75.00) on shares of PACCAR in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $75.42.
PACCAR (NASDAQ PCAR) opened at 72.69 on Tuesday. The stock’s 50 day moving average price is $70.05 and its 200-day moving average price is $66.78. PACCAR has a 1-year low of $53.38 and a 1-year high of $74.79. The company has a market cap of $25.54 billion, a PE ratio of 19.46 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, July 25th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The firm had revenue of $4.40 billion for the quarter, compared to analyst estimates of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. On average, analysts forecast that PACCAR will post $4.03 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 5th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, November 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.38%. PACCAR’s payout ratio is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. Following the completion of the transaction, the insider now owns 20,800 shares in the company, valued at $1,412,112. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.64% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its stake in shares of PACCAR by 6.6% during the second quarter. BlackRock Inc. now owns 25,508,314 shares of the company’s stock worth $1,684,572,000 after purchasing an additional 1,572,038 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of PACCAR by 5.0% during the second quarter. Vanguard Group Inc. now owns 24,555,355 shares of the company’s stock worth $1,621,636,000 after purchasing an additional 1,164,896 shares in the last quarter. State Street Corp grew its stake in shares of PACCAR by 0.9% during the first quarter. State Street Corp now owns 15,141,782 shares of the company’s stock worth $1,017,524,000 after purchasing an additional 135,416 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PACCAR by 10.6% during the second quarter. Bank of New York Mellon Corp now owns 6,071,129 shares of the company’s stock worth $400,938,000 after purchasing an additional 580,223 shares in the last quarter. Finally, FMR LLC grew its stake in shares of PACCAR by 20.7% during the first quarter. FMR LLC now owns 4,832,949 shares of the company’s stock worth $324,775,000 after purchasing an additional 829,031 shares in the last quarter. Hedge funds and other institutional investors own 62.13% of the company’s stock.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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