Wells Fargo & Co Reiterates “Hold” Rating for PACCAR (PCAR)
Wells Fargo & Co reissued their hold rating on shares of PACCAR (NASDAQ:PCAR) in a report issued on Thursday morning. They currently have a $75.00 target price on the stock, down from their prior target price of $80.00.
A number of other equities analysts have also weighed in on PCAR. Piper Jaffray Companies set a $67.00 target price on PACCAR and gave the stock a hold rating in a research report on Sunday, December 10th. Bank of America raised PACCAR from a neutral rating to a buy rating and set a $70.00 target price on the stock in a research report on Tuesday, January 2nd. ValuEngine lowered PACCAR from a buy rating to a hold rating in a research report on Friday, November 17th. Zacks Investment Research lowered PACCAR from a buy rating to a hold rating in a research report on Monday, December 11th. Finally, BidaskClub raised PACCAR from a hold rating to a buy rating in a research report on Thursday, December 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $76.00.
Shares of PACCAR (NASDAQ:PCAR) traded up $0.92 on Thursday, reaching $71.32. The company’s stock had a trading volume of 2,176,755 shares, compared to its average volume of 2,506,501. PACCAR has a 12-month low of $61.93 and a 12-month high of $79.69. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.90 and a current ratio of 2.49. The firm has a market capitalization of $25,103.71, a price-to-earnings ratio of 16.74, a PEG ratio of 1.35 and a beta of 1.22.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 13th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Monday, February 12th. PACCAR’s payout ratio is currently 21.05%.
In related news, VP Marco A. Davila purchased 570 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $69.05 per share, with a total value of $39,358.50. Following the transaction, the vice president now owns 7,536 shares of the company’s stock, valued at approximately $520,360.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCAR. NuWave Investment Management LLC bought a new position in PACCAR in the 4th quarter valued at $160,000. Fuller & Thaler Asset Management Inc. bought a new position in PACCAR in the 4th quarter valued at $171,000. Regentatlantic Capital LLC bought a new position in PACCAR in the 4th quarter valued at $202,000. Hartland & Co. LLC bought a new position in PACCAR in the 3rd quarter valued at $206,000. Finally, Checchi Capital Advisers LLC bought a new position in PACCAR in the 4th quarter valued at $206,000. 64.40% of the stock is owned by institutional investors and hedge funds.
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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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