PACCAR (PCAR) – Investment Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of PACCAR (NASDAQ: PCAR) recently:

  • 2/7/2019 – PACCAR was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $66.32 price target on the stock.
  • 2/5/2019 – PACCAR had its price target raised by analysts at Piper Jaffray Companies to $75.00. They now have an “overweight” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 2/1/2019 – PACCAR was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “The Zacks Consensus Estimate for PACCAR’s quarterly and yearly earnings have been rising in the past one month. In fourth-quarter 2018, the company’s earnings per share beat the Zacks Consensus Estimate. Results were aided by quality products and services, record heavy-duty truck market share in Europe, 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. However, rise in commodity prices and tough competition in the commercial truck market is concerns for the company.”
  • 1/22/2019 – PACCAR had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $63.00 price target on the stock.
  • 1/19/2019 – PACCAR was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 1/11/2019 – PACCAR was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “PACCAR’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. Increasing profits and positive cash flow has enabled the company to pursue an active capital deployment policy through regular dividend payments and share buyback programs. 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. However, declining used truck prices due to excess supply pose a concern for PACCAR. Also, rising commodity prices puts pressure in the company’s profit. Over the past three months, shares of the company have underperformed the industry it belongs to.”
  • 1/10/2019 – PACCAR was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating. They now have a $54.00 price target on the stock.
  • 1/10/2019 – PACCAR was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 1/7/2019 – PACCAR was downgraded by analysts at Vertical Research from a “hold” rating to a “sell” rating.
  • 12/31/2018 – PACCAR had its “hold” rating reaffirmed by analysts at Mizuho.
  • 12/31/2018 – PACCAR had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $61.00 price target on the stock. According to Zacks, “PACCAR’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. Increasing profits and positive cash flow has enabled the company to pursue an active capital deployment policy through regular dividend payments and share buyback programs. 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. However, declining used truck prices pose a concern for PACCAR. The company also faces tough competition in the commercial trucks market. The company's shares have underperformed the industry it belongs to over the past three months.”
  • 12/25/2018 – PACCAR was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 12/21/2018 – PACCAR was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

PACCAR stock opened at $65.95 on Monday. PACCAR Inc has a twelve month low of $53.43 and a twelve month high of $72.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.98 and a current ratio of 1.19. The stock has a market capitalization of $23.12 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 0.95 and a beta of 1.32.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 29th. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.08. PACCAR had a net margin of 9.34% and a return on equity of 25.01%. The firm had revenue of $5.93 billion for the quarter, compared to the consensus estimate of $5.71 billion. During the same period in the previous year, the firm posted $1.18 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that PACCAR Inc will post 6.42 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 5th. Stockholders of record on Tuesday, February 12th will be issued a $0.32 dividend. The ex-dividend date is Monday, February 11th. This is an increase from PACCAR’s previous quarterly dividend of $0.28. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.94%. PACCAR’s payout ratio is 17.95%.

In related news, VP David J. Danforth sold 1,549 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $64.49, for a total transaction of $99,895.01. Following the transaction, the vice president now directly owns 6,571 shares in the company, valued at approximately $423,763.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ronald E. Armstrong sold 15,784 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $66.00, for a total transaction of $1,041,744.00. Following the transaction, the chief executive officer now owns 222,499 shares in the company, valued at $14,684,934. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,260 shares of company stock worth $1,329,259. Insiders own 2.64% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in PACCAR in the 4th quarter worth about $210,000. Castle Rock Wealth Management LLC grew its stake in PACCAR by 2.2% in the 4th quarter. Castle Rock Wealth Management LLC now owns 8,291 shares of the company’s stock worth $544,000 after acquiring an additional 180 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in PACCAR by 8.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 116,979 shares of the company’s stock worth $6,684,000 after acquiring an additional 9,340 shares in the last quarter. BlackRock Inc. grew its stake in PACCAR by 7.8% in the 4th quarter. BlackRock Inc. now owns 25,297,074 shares of the company’s stock worth $1,445,476,000 after acquiring an additional 1,830,638 shares in the last quarter. Finally, Madison Investment Holdings Inc. grew its stake in PACCAR by 8.9% in the 4th quarter. Madison Investment Holdings Inc. now owns 571,173 shares of the company’s stock worth $32,637,000 after acquiring an additional 46,656 shares in the last quarter. Institutional investors own 62.42% of the company’s stock.

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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