PACCAR Inc. (NASDAQ:PCAR) Upgraded to Buy by Argus

Argus upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a hold rating to a buy rating in a report released on Monday, November 6th, MarketBeat reports.

A number of other analysts also recently commented on the stock. Credit Suisse Group boosted their price target on shares of PACCAR from $69.00 to $71.00 and gave the stock a neutral rating in a research report on Wednesday, October 25th. Deutsche Bank AG lowered their price objective on shares of PACCAR from $78.00 to $77.00 and set a hold rating on the stock in a research note on Wednesday, October 25th. Wells Fargo & Company lowered their price objective on shares of PACCAR from $77.00 to $75.00 and set a market perform rating on the stock in a research note on Wednesday, October 25th. Robert W. Baird lifted their price objective on shares of PACCAR from $80.00 to $82.00 and gave the stock a neutral rating in a research note on Wednesday, October 25th. Finally, UBS AG set a $79.00 price objective on shares of PACCAR and gave the stock a buy rating in a research note on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $75.95.

Shares of PACCAR (NASDAQ PCAR) opened at $68.67 on Monday. The firm has a market cap of $24,373.62, a PE ratio of 17.77, a P/E/G ratio of 1.66 and a beta of 1.24. PACCAR has a 52-week low of $58.78 and a 52-week high of $75.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.56 and a quick ratio of 2.40.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The company had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.57 billion. During the same period in the previous year, the firm earned $0.98 EPS. PACCAR’s revenue was up 19.7% on a year-over-year basis. equities analysts predict that PACCAR will post 4.18 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 5th. Stockholders of record on Tuesday, November 14th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend is Monday, November 13th. PACCAR’s payout ratio is 25.64%.

In related news, VP Alma Lily Ley sold 4,024 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $71.00, for a total transaction of $285,704.00. Following the transaction, the vice president now owns 24,319 shares in the company, valued at approximately $1,726,649. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark C. Pigott sold 98,956 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $71.37, for a total transaction of $7,062,489.72. Following the transaction, the insider now owns 2,985,401 shares in the company, valued at approximately $213,068,069.37. The disclosure for this sale can be found here. Insiders sold a total of 106,598 shares of company stock worth $7,597,908 in the last three months. Insiders own 2.64% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC lifted its position in PACCAR by 195.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 15,946 shares of the company’s stock valued at $1,154,000 after purchasing an additional 10,546 shares during the period. Point72 Asset Management L.P. raised its position in shares of PACCAR by 845.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 919,047 shares of the company’s stock valued at $66,484,000 after acquiring an additional 821,847 shares during the period. Caxton Associates LP acquired a new stake in shares of PACCAR in the 3rd quarter valued at approximately $2,170,000. Cornerstone Capital Management Holdings LLC. raised its position in shares of PACCAR by 4.9% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 65,003 shares of the company’s stock valued at $4,702,000 after acquiring an additional 3,057 shares during the period. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of PACCAR by 1.3% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 308,677 shares of the company’s stock valued at $22,330,000 after acquiring an additional 4,050 shares during the period. Institutional investors own 63.03% of the company’s stock.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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