PACCAR’s (PCAR) Buy Rating Reaffirmed at Royal Bank Of Canada
A number of other equities research analysts have also recently weighed in on the stock. BidaskClub cut shares of PACCAR from a sell rating to a strong sell rating in a research report on Saturday, June 24th. UBS AG upgraded PACCAR from a neutral rating to a buy rating and lifted their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, June 6th. Citigroup Inc. boosted their target price on PACCAR from $74.00 to $78.00 and gave the company a buy rating in a report on Wednesday, July 26th. Stifel Nicolaus reissued a buy rating and issued a $72.00 target price (up from $64.00) on shares of PACCAR in a report on Wednesday, July 26th. Finally, Zacks Investment Research raised PACCAR from a hold rating to a buy rating and set a $70.00 target price for the company in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $72.89.
PACCAR (PCAR) traded up 0.33% during trading on Tuesday, hitting $74.00. The company had a trading volume of 932,016 shares. The firm’s 50 day moving average is $67.86 and its 200-day moving average is $66.44. PACCAR has a 52-week low of $53.38 and a 52-week high of $74.66. The stock has a market capitalization of $26.00 billion, a price-to-earnings ratio of 19.81 and a beta of 1.18.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 25th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The company had revenue of $4.40 billion for the quarter, compared to analysts’ expectations of $4.29 billion. PACCAR had a net margin of 7.77% and a return on equity of 18.61%. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. On average, equities analysts forecast that PACCAR will post $4.00 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s dividend payout ratio is currently 26.74%.
In related news, insider T. Kyle Quinn sold 2,786 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $67.89, for a total value of $189,141.54. Following the sale, the insider now directly owns 20,800 shares of the company’s stock, valued at approximately $1,412,112. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.64% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PCAR. Davis Selected Advisers increased its stake in shares of PACCAR by 0.4% during the 2nd quarter. Davis Selected Advisers now owns 3,144 shares of the company’s stock worth $208,000 after purchasing an additional 12 shares in the last quarter. Conning Inc. grew its holdings in PACCAR by 0.4% during the 2nd quarter. Conning Inc. now owns 10,691 shares of the company’s stock valued at $706,000 after buying an additional 39 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in PACCAR by 1.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,742 shares of the company’s stock valued at $247,000 after buying an additional 46 shares during the last quarter. Atlantic Trust Group LLC grew its holdings in PACCAR by 0.6% during the 2nd quarter. Atlantic Trust Group LLC now owns 12,279 shares of the company’s stock valued at $810,000 after buying an additional 68 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in PACCAR by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,098 shares of the company’s stock valued at $1,724,000 after buying an additional 69 shares during the last quarter. 62.13% of the stock is currently owned by institutional investors.
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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