PACCAR (PCAR) Price Target Raised to $70.00

PACCAR (NASDAQ:PCAR) had its target price lifted by BMO Capital Markets to $70.00 in a research note released on Friday morning, The Fly reports. They currently have a market perform rating on the stock.

PCAR has been the subject of a number of other reports. BidaskClub lowered shares of PACCAR from a strong-buy rating to a buy rating in a report on Friday, March 1st. Piper Jaffray Companies boosted their price objective on shares of PACCAR to $75.00 and gave the stock an overweight rating in a report on Tuesday, February 5th. They noted that the move was a valuation call. Robert W. Baird upgraded shares of PACCAR from a neutral rating to an outperform rating and set a $66.32 price objective for the company in a report on Thursday, February 7th. Credit Suisse Group restated a hold rating and issued a $63.00 price objective on shares of PACCAR in a report on Tuesday, January 22nd. Finally, Zacks Investment Research upgraded shares of PACCAR from a hold rating to a buy rating and set a $77.00 price objective for the company in a report on Friday, May 10th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $66.24.

Shares of PCAR opened at $69.32 on Friday. PACCAR has a 52 week low of $53.43 and a 52 week high of $73.00. The company has a market capitalization of $23.99 billion, a PE ratio of 11.11, a P/E/G ratio of 1.23 and a beta of 1.24. The company has a current ratio of 2.49, a quick ratio of 2.32 and a debt-to-equity ratio of 0.74.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.16. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $6 billion. During the same period in the previous year, the business earned $1.45 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, analysts forecast that PACCAR will post 6.71 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Tuesday, May 14th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.85%. PACCAR’s dividend payout ratio is presently 20.51%.

In other PACCAR news, VP David J. Danforth sold 4,315 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the completion of the sale, the vice president now directly owns 7,286 shares in the company, valued at approximately $515,047.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Darrin C. Siver sold 8,088 shares of the business’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $68.81, for a total transaction of $556,535.28. Following the sale, the senior vice president now owns 24,335 shares of the company’s stock, valued at $1,674,491.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,548 shares of company stock valued at $1,977,126. Company insiders own 2.32% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Brandywine Oak Private Wealth LLC increased its stake in shares of PACCAR by 1.8% in the 1st quarter. Brandywine Oak Private Wealth LLC now owns 8,315 shares of the company’s stock worth $566,000 after purchasing an additional 148 shares in the last quarter. Securian Asset Management Inc increased its stake in shares of PACCAR by 0.5% in the 1st quarter. Securian Asset Management Inc now owns 35,455 shares of the company’s stock worth $2,416,000 after purchasing an additional 163 shares in the last quarter. Castle Rock Wealth Management LLC increased its stake in shares of 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 purchasing an additional 180 shares in the last quarter. O Shares Investment Advisers LLC increased its stake in shares of PACCAR by 1.5% in the 1st quarter. O Shares Investment Advisers LLC now owns 12,960 shares of the company’s stock worth $883,000 after purchasing an additional 192 shares in the last quarter. Finally, Mason Street Advisors LLC increased its stake in shares of PACCAR by 0.4% in the 1st quarter. Mason Street Advisors LLC now owns 49,464 shares of the company’s stock worth $3,370,000 after purchasing an additional 199 shares in the last quarter. Institutional investors and hedge funds own 62.37% of the company’s stock.

About PACCAR

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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