According to Zacks, “PACCAR holds a strong market share in the U.S. and Canada. Moreover, the company is well positioned in the key non-U.S. markets, backed by its strategic investments. Further, PACCAR follows an active capital deployment policy to boost earnings. The company raised its outlook for industry sales in Europe and modified the same for the U.S. and Canada. However, PACCAR is likely to be affected by the expected decline in Class 8 industry retail sales in the U.S. and Canada this year. It is also facing competition in the commercial trucks market.”
Several other brokerages also recently commented on PCAR. Jefferies Group boosted their price objective on shares of Paccar from $65.00 to $70.00 and gave the company a buy rating in a research report on Thursday, September 1st. BMO Capital Markets restated a hold rating and set a $57.00 price objective on shares of Paccar in a research report on Friday, July 29th. Barclays PLC set a $47.00 price objective on shares of Paccar and gave the company a sell rating in a research report on Wednesday, July 27th. Credit Agricole SA assumed coverage on shares of Paccar in a research report on Friday, September 30th. They set an outperform rating and a $65.00 price objective for the company. Finally, Deutsche Bank AG assumed coverage on shares of Paccar in a research report on Tuesday, September 6th. They set a hold rating and a $63.00 price objective for the company. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $56.13.
Shares of Paccar (NASDAQ:PCAR) opened at 59.82 on Monday. The stock’s 50 day moving average price is $58.45 and its 200-day moving average price is $56.08. The firm has a market capitalization of $20.97 billion, a price-to-earnings ratio of 31.75 and a beta of 1.51. Paccar has a 12 month low of $43.46 and a 12 month high of $60.86.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. The business earned $4.12 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.26 earnings per share. On average, equities research analysts predict that Paccar will post $3.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Friday, November 18th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $0.96 dividend on an annualized basis and a yield of 1.60%. Paccar’s payout ratio is 51.34%.
A number of hedge funds have recently bought and sold shares of PCAR. NN Investment Partners Holdings N.V. bought a new stake in Paccar during the first quarter worth $111,000. Assetmark Inc. bought a new stake in Paccar during the second quarter worth $128,000. Advisor Group Inc. bought a new stake in Paccar during the second quarter worth $222,000. Meeder Asset Management Inc. bought a new stake in Paccar during the first quarter worth $224,000. Finally, BlueMountain Capital Management LLC increased its stake in Paccar by 796.3% in the first quarter. BlueMountain Capital Management LLC now owns 4,338 shares of the company’s stock worth $237,000 after buying an additional 3,854 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.
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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