PACCAR (PCAR) – Research Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of PACCAR (NASDAQ: PCAR) in the last few weeks:

  • 4/18/2019 – PACCAR was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 4/16/2019 – PACCAR was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “PACCAR’s quarterly results are backed by strong global truck markets and solid aftermarket parts’ results. In fact, the company’s class 8 truck retail sales are rising primarily due to a robust economy and strong freight demand. Also, it is well positioned in the key markets, owing to strong cash flow, enabling it to undertake capital investments, and research and development expenses. Over the past three months, shares of the company have outperformed the industry it belongs to. However, rising commodity prices and drop in used-vehicle prices are concerns. Further, PACCAR faces tough competition from industry peers.”
  • 4/10/2019 – PACCAR was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 4/8/2019 – PACCAR was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “PACCAR’s quarterly results are backed by strong global truck markets and solid aftermarket parts’ results. In fact, the company’s class 8 truck retail sales are rising, primarily due to a robust economy and strong freight demand. Also, the company is well-positioned in its key markets, owing to strong cash flow enabling it to undertake capital investments, and research and development expenses. Over the past three months, shares of the company have outperformed the industry it belongs to. However, rising commodity price and drop in used vehicles prices are concerns. Further, PACCAR faces tough competition from its industry peers.”
  • 3/12/2019 – PACCAR was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $75.00 price target on the stock. According to Zacks, “In fourth-quarter 2018, PACCAR’s adjusted earnings per share and consolidated net sales and revenues surpassed the respective Zacks Consensus Estimate. The company’s results are backed by strong global truck markets, and solid aftermarket parts’ results. In fact, the company’s class 8 truck retail sales are rising primarily due to a robust economy and strong freight demand, which is expected to drive its financials. Also, it is well-positioned in its key markets on the back of its strong cash flow, enabling it to undertake capital investments and research and development expenses.”
  • 3/1/2019 – PACCAR was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.

PCAR opened at $71.44 on Monday. PACCAR Inc has a fifty-two week low of $53.43 and a fifty-two week high of $72.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.33 and a quick ratio of 2.18. The firm has a market cap of $24.77 billion, a PE ratio of 11.45, a PEG ratio of 1.32 and a beta of 1.24.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.57 by $0.08. PACCAR had a return on equity of 25.01% and a net margin of 9.34%. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.71 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts predict that PACCAR Inc will post 6.43 EPS for the current year.

In related news, SVP Darrin C. Siver sold 8,088 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $68.81, for a total value of $556,535.28. Following the completion of the transaction, the senior vice president now owns 24,335 shares of the company’s stock, valued at $1,674,491.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider R Preston Feight sold 3,226 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $68.73, for a total value of $221,722.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,989 shares of company stock valued at $4,160,345. 2.32% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PCAR. Truvestments Capital LLC bought a new position in PACCAR in the first quarter valued at about $42,000. Berman Capital Advisors LLC bought a new stake in shares of PACCAR during the fourth quarter worth about $43,000. Lindbrook Capital LLC bought a new stake in shares of PACCAR during the fourth quarter worth about $47,000. American Research & Management Co. bought a new stake in shares of PACCAR during the first quarter worth about $68,000. Finally, Synovus Financial Corp grew its holdings in shares of PACCAR by 1,116.5% during the fourth quarter. Synovus Financial Corp now owns 1,253 shares of the company’s stock worth $72,000 after purchasing an additional 1,150 shares during the last quarter. 62.50% of the stock is owned by institutional investors and hedge funds.

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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