Wolfe Research lowered shares of PACCAR (NASDAQ:PCAR) from a peer perform rating to an underperform rating in a research report sent to investors on Friday morning, MarketBeat reports.
A number of other equities analysts have also weighed in on the stock. BidaskClub upgraded shares of PACCAR from a hold rating to a buy rating in a research report on Wednesday, August 22nd. Evercore ISI upgraded shares of PACCAR from an in-line rating to an outperform rating in a research report on Monday, August 6th. ValuEngine upgraded shares of PACCAR from a sell rating to a hold rating in a research report on Saturday, August 18th. Morgan Stanley set a $64.00 price target on shares of PACCAR and gave the stock a sell rating in a research report on Wednesday, July 25th. Finally, BMO Capital Markets lowered shares of PACCAR from an outperform rating to a market perform rating and set a $80.00 price target on the stock. in a research report on Wednesday, July 18th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $71.64.
Shares of NASDAQ PCAR opened at $68.13 on Friday. PACCAR has a 52-week low of $59.82 and a 52-week high of $79.69. The stock has a market capitalization of $23.90 billion, a PE ratio of 15.91, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a current ratio of 2.52, a quick ratio of 2.34 and a debt-to-equity ratio of 0.69.
PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, July 24th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.16. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.39 billion. PACCAR had a net margin of 9.39% and a return on equity of 22.68%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. Research analysts predict that PACCAR will post 6.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Tuesday, November 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 9th. This represents a $1.12 annualized dividend and a yield of 1.64%. PACCAR’s payout ratio is 26.29%.
PACCAR declared that its board has authorized a stock repurchase plan on Monday, July 9th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In other PACCAR news, VP Douglas S. Grandstaff sold 580 shares of the business’s stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $65.90, for a total value of $38,222.00. Following the transaction, the vice president now directly owns 5,891 shares in the company, valued at approximately $388,216.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darrin C. Siver sold 5,750 shares of the business’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $64.46, for a total transaction of $370,645.00. Following the completion of the transaction, the insider now owns 22,596 shares in the company, valued at $1,456,538.16. The disclosure for this sale can be found here. Insiders sold a total of 9,634 shares of company stock worth $625,510 over the last quarter. 2.64% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PCAR. Vigilant Capital Management LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $105,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of PACCAR by 5,888.2% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,036 shares of the company’s stock valued at $126,000 after acquiring an additional 2,002 shares during the period. Amussen Hunsaker Associates LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $132,000. Point72 Asia Hong Kong Ltd raised its stake in shares of PACCAR by 1,202.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 2,423 shares of the company’s stock valued at $160,000 after acquiring an additional 2,237 shares during the period. Finally, CWM Advisors LLC purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $203,000. 61.07% of the stock is currently 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. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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