PACCAR Inc (NASDAQ:PCAR)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a research report issued on Friday. They presently have a $77.00 price target on the stock. Jefferies Group LLC’s price objective indicates a potential upside of 11.42% from the company’s current price.
PCAR has been the subject of several other reports. Evercore ISI raised PACCAR from a “hold” rating to a “buy” rating and raised their price objective for the company from $58.00 to $77.00 in a research note on Tuesday, January 3rd. Royal Bank of Canada raised PACCAR from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $54.00 to $75.00 in a research note on Friday, January 13th. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $68.00 price objective on shares of PACCAR in a research note on Sunday, February 5th. Barclays PLC raised their price objective on PACCAR from $54.00 to $57.00 and gave the company a “sell” rating in a research note on Wednesday, February 1st. Finally, Robert W. Baird lowered PACCAR from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $60.00 to $62.00 in a research note on Tuesday, January 3rd. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. PACCAR presently has an average rating of “Hold” and a consensus price target of $66.38.
Shares of PACCAR (NASDAQ:PCAR) opened at 69.11 on Friday. The company has a market cap of $24.25 billion, a P/E ratio of 46.70 and a beta of 1.26. The company has a 50-day moving average price of $68.15 and a 200-day moving average price of $62.71. PACCAR has a 52-week low of $48.17 and a 52-week high of $70.12.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.86 by $0.04. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.86 billion. PACCAR had a net margin of 3.12% and a return on equity of 20.21%. The business’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. On average, equities analysts predict that PACCAR will post $3.56 EPS for the current year.
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In related news, CEO Ronald E. Armstrong sold 31,326 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $68.29, for a total transaction of $2,139,252.54. Following the completion of the sale, the chief executive officer now directly owns 134,793 shares of the company’s stock, valued at approximately $9,205,013.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Lee Moore sold 22,742 shares of the firm’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $68.28, for a total value of $1,552,823.76. Following the sale, the insider now directly owns 18,854 shares of the company’s stock, valued at $1,287,351.12. The disclosure for this sale can be found here. Insiders have sold a total of 84,157 shares of company stock valued at $5,757,472 over the last three months. 2.62% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Assetmark Inc. raised its stake in shares of PACCAR by 1.8% in the third quarter. Assetmark Inc. now owns 2,508 shares of the company’s stock worth $147,000 after buying an additional 45 shares in the last quarter. Regentatlantic Capital LLC acquired a new stake in shares of PACCAR during the third quarter worth about $202,000. Wexford Capital LP acquired a new stake in shares of PACCAR during the fourth quarter worth about $211,000. Heartland Advisors Inc. acquired a new stake in shares of PACCAR during the third quarter worth about $215,000. Finally, Raymond James Trust N.A. acquired a new stake in shares of PACCAR during the third quarter worth about $216,000. 60.60% of the stock is 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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