PACCAR (NASDAQ:PCAR) was upgraded by stock analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a report issued on Thursday, MarketBeat Ratings reports. The firm presently has a $66.32 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 0.56% from the company’s previous close.
A number of other brokerages have also recently commented on PCAR. Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, February 1st. Piper Jaffray Companies upped their target price on shares of PACCAR to $75.00 and gave the company an “overweight” rating in a report on Tuesday. They noted that the move was a valuation call. ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. BidaskClub cut shares of PACCAR from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $63.00 target price on shares of PACCAR in a report on Tuesday, January 22nd. Five research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $68.73.
PCAR opened at $65.95 on Thursday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.19 and a quick ratio of 0.98. PACCAR has a twelve month low of $53.43 and a twelve month high of $72.89. The company has a market cap of $23.12 billion, a PE ratio of 10.57, a P/E/G ratio of 0.95 and a beta of 1.32.
PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.08. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The firm had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.71 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, research analysts predict that PACCAR will post 6.42 EPS for the current fiscal year.
PACCAR announced that its Board of Directors has initiated a share buyback program on Tuesday, December 4th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In related news, VP Douglas S. Grandstaff sold 607 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $59.67, for a total transaction of $36,219.69. Following the completion of the transaction, the vice president now owns 5,284 shares in the company, valued at $315,296.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 820 shares of the company’s stock in a transaction on Thursday, February 7th. The stock was sold at an average price of $65.75, for a total transaction of $53,915.00. Following the transaction, the vice president now owns 2,446 shares of the company’s stock, valued at approximately $160,824.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,260 shares of company stock valued at $1,329,259. Corporate insiders own 2.64% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. raised its stake in shares of PACCAR by 8.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 116,979 shares of the company’s stock valued at $6,684,000 after acquiring an additional 9,340 shares during the period. BlackRock Inc. raised its stake in shares of PACCAR by 7.8% in the fourth quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock valued at $1,445,476,000 after acquiring an additional 1,830,638 shares during the period. Madison Investment Holdings Inc. raised its stake in shares of PACCAR by 8.9% in the fourth quarter. Madison Investment Holdings Inc. now owns 571,173 shares of the company’s stock valued at $32,637,000 after acquiring an additional 46,656 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of PACCAR by 15.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 120,002 shares of the company’s stock valued at $6,865,000 after acquiring an additional 15,942 shares during the period. Finally, Stuyvesant Capital Management raised its stake in shares of PACCAR by 675.4% in the fourth quarter. Stuyvesant Capital Management now owns 26,750 shares of the company’s stock valued at $1,528,000 after acquiring an additional 23,300 shares during the period. Hedge funds and other institutional investors own 60.65% 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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