Stock analysts at Credit Agricole SA began coverage on shares of Paccar Inc. (NASDAQ:PCAR) in a report released on Friday, The Fly reports. The brokerage set an “outperform” rating on the stock.
A number of other research firms have also recently commented on PCAR. Longbow Research cut Paccar from a “neutral” rating to an “underperform” rating and set a $44.00 target price on the stock. in a research report on Tuesday, July 19th. BMO Capital Markets restated a “hold” rating and set a $57.00 target price on shares of Paccar in a research report on Friday, July 29th. Deutsche Bank AG initiated coverage on Paccar in a research report on Tuesday, September 6th. They set a “hold” rating and a $63.00 target price on the stock. Robert W. Baird restated a “buy” rating on shares of Paccar in a research report on Tuesday, June 28th. Finally, Barclays PLC set a $47.00 target price on Paccar and gave the company a “sell” rating in a research report on Wednesday, July 27th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $55.50.
Shares of Paccar (NASDAQ:PCAR) opened at 57.89 on Friday. The stock has a market capitalization of $20.29 billion, a P/E ratio of 30.73 and a beta of 1.49. The firm’s 50-day moving average price is $58.36 and its 200-day moving average price is $55.93. Paccar has a 12 month low of $43.46 and a 12 month high of $60.86.
Paccar (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.04. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.17 billion. Paccar had a return on equity of 21.92% and a net margin of 3.71%. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. On average, equities research analysts forecast that Paccar will post $3.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, November 16th. Paccar’s dividend payout ratio (DPR) is 51.34%.
Several hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. raised its stake in Paccar by 281.9% in the first quarter. Landscape Capital Management L.L.C. now owns 60,259 shares of the company’s stock valued at $3,296,000 after buying an additional 44,480 shares during the last quarter. Advisor Partners LLC purchased a new stake in Paccar during the first quarter valued at approximately $302,000. NN Investment Partners Holdings N.V. purchased a new stake in Paccar during the first quarter valued at approximately $111,000. Bristlecone Advisors LLC raised its stake in Paccar by 6.0% in the first quarter. Bristlecone Advisors LLC now owns 63,469 shares of the company’s stock valued at $3,471,000 after buying an additional 3,616 shares during the last quarter. Finally, BlackRock Japan Co. Ltd raised its stake in Paccar by 15.6% in the first quarter. BlackRock Japan Co. Ltd now owns 668,424 shares of the company’s stock valued at $36,556,000 after buying an additional 90,229 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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