Paccar Inc. (NASDAQ:PCAR) had its price target hoisted by analysts at Barclays PLC from $47.00 to $50.00 in a note issued to investors on Wednesday. The brokerage currently has an “underweight” rating on the stock. Barclays PLC’s price objective indicates a potential downside of 11.80% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Robert W. Baird reaffirmed a “buy” rating on shares of Paccar in a research report on Tuesday, June 28th. Deutsche Bank AG began coverage on shares of Paccar in a research report on Tuesday, September 6th. They set a “hold” rating and a $63.00 target price on the stock. BMO Capital Markets reissued a “hold” rating and set a $57.00 target price on shares of Paccar in a research report on Friday, July 29th. Zacks Investment Research raised shares of Paccar from a “sell” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, 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 target price on the stock. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.33.
Shares of Paccar (NASDAQ:PCAR) opened at 56.69 on Wednesday. Paccar has a 12-month low of $43.46 and a 12-month high of $60.86. The company has a market cap of $19.87 billion, a price-to-earnings ratio of 30.09 and a beta of 1.51. The company’s 50-day moving average price is $58.18 and its 200 day moving average price is $56.23.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.04. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the previous year, the firm earned $1.26 EPS. The company’s quarterly revenue was down 14.0% compared to the same quarter last year. Equities analysts predict that Paccar will post $3.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. Paccar’s payout ratio is 51.34%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Paccar during the second quarter valued at about $54,296,000. Kleinwort Benson Investors Dublin Ltd acquired a new position in Paccar during the second quarter valued at about $42,310,000. Capital World Investors boosted its position in Paccar by 3.9% in the second quarter. Capital World Investors now owns 12,005,500 shares of the company’s stock valued at $622,725,000 after buying an additional 453,000 shares during the last quarter. BlackRock Inc. boosted its position in Paccar by 32.9% in the second quarter. BlackRock Inc. now owns 1,821,434 shares of the company’s stock valued at $94,478,000 after buying an additional 450,710 shares during the last quarter. Finally, BlackRock Fund Advisors boosted its position in Paccar by 4.4% in the second quarter. BlackRock Fund Advisors now owns 9,130,432 shares of the company’s stock valued at $473,596,000 after buying an additional 381,482 shares during the last quarter. 62.23% of the stock is owned by 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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