PACCAR (NASDAQ:PCAR) Now Covered by Analysts at Raymond James

Equities research analysts at Raymond James assumed coverage on shares of PACCAR (NASDAQ:PCAR) in a research note issued on Wednesday, The Fly reports. The brokerage set a “strong-buy” rating on the stock.

Several other research analysts have also recently issued reports on PCAR. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating in a research report on Thursday, November 14th. Buckingham Research boosted their target price on shares of PACCAR from $70.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. OTR Global cut shares of PACCAR from a “mixed” rating to a “negative” rating in a research note on Wednesday, October 9th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Co increased their price target on shares of PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a report on Wednesday, October 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $71.64.

Shares of PCAR stock traded down $0.58 during trading hours on Wednesday, reaching $78.85. 1,057,500 shares of the company’s stock were exchanged, compared to its average volume of 1,805,974. The company has a market cap of $27.75 billion, a P/E ratio of 12.64, a price-to-earnings-growth ratio of 1.69 and a beta of 1.25. The company’s 50 day moving average is $74.46 and its two-hundred day moving average is $70.21. PACCAR has a 1 year low of $53.43 and a 1 year high of $80.57. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.39 and a quick ratio of 2.23.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.64 by $0.11. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period last year, the firm earned $1.55 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that PACCAR will post 6.79 EPS for the current fiscal year.

In other news, EVP Gary Lee Moore sold 39,695 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $75.81, for a total value of $3,009,277.95. Following the completion of the transaction, the executive vice president now directly owns 34,553 shares of the company’s stock, valued at $2,619,462.93. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 7,927 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $77.73, for a total value of $616,165.71. Following the completion of the transaction, the chief financial officer now directly owns 40,051 shares of the company’s stock, valued at $3,113,164.23. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,949 shares of company stock valued at $8,207,798. 2.32% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of PCAR. BlackRock Inc. grew its stake in PACCAR by 5.7% in the 2nd quarter. BlackRock Inc. now owns 27,314,209 shares of the company’s stock worth $1,957,337,000 after acquiring an additional 1,462,333 shares during the period. Nuveen Asset Management LLC raised its holdings in PACCAR by 228.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,395,941 shares of the company’s stock valued at $100,033,000 after acquiring an additional 970,913 shares during the last quarter. First Trust Advisors LP raised its holdings in PACCAR by 140.5% in the 2nd quarter. First Trust Advisors LP now owns 1,169,778 shares of the company’s stock valued at $83,826,000 after acquiring an additional 683,432 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of PACCAR by 2.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 12,750,068 shares of the company’s stock worth $913,670,000 after purchasing an additional 324,895 shares during the period. Finally, Mengis Capital Management Inc. lifted its stake in shares of PACCAR by 7,255.7% during the 2nd quarter. Mengis Capital Management Inc. now owns 286,871 shares of the company’s stock worth $20,557,000 after purchasing an additional 282,971 shares during the period. 62.07% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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