A number of other research analysts have also issued reports on PCAR. Bank of America Corp. restated a buy rating on shares of Paccar in a research note on Thursday, June 16th. JPMorgan Chase & Co. lowered shares of Paccar from a neutral rating to an underweight rating and cut their price target for the company from $58.00 to $47.00 in a research note on Monday, June 27th. Robert W. Baird restated a buy rating on shares of Paccar in a research note on Tuesday, June 28th. Zacks Investment Research lowered shares of Paccar from a hold rating to a sell rating in a research note on Monday, July 11th. Finally, Longbow Research lowered shares of Paccar from a neutral rating to an underperform rating and set a $44.00 price target on the stock. in a research note on Tuesday, July 19th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Paccar presently has a consensus rating of Hold and an average price target of $56.33.
Paccar (NASDAQ:PCAR) opened at 56.81 on Wednesday. Paccar has a 1-year low of $43.46 and a 1-year high of $60.86. The stock has a market cap of $19.91 billion, a PE ratio of 30.15 and a beta of 1.51. The company’s 50 day moving average is $58.00 and its 200-day moving average is $56.29.
Paccar (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.04. Paccar had a net margin of 3.71% and a return on equity of 21.92%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the prior year, the business posted $1.26 EPS. Paccar’s revenue for the quarter was down 14.0% compared to the same quarter last year. Equities research analysts forecast that Paccar will post $3.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Friday, November 18th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s dividend payout ratio is currently 51.34%.
Institutional investors have recently bought and sold shares of the company. NN Investment Partners Holdings N.V. acquired a new position in Paccar during the first quarter valued at $111,000. Assetmark Inc. acquired a new position in Paccar during the second quarter valued at $128,000. Raymond James Trust N.A. acquired a new position in Paccar during the third quarter valued at $216,000. Meeder Asset Management Inc. acquired a new position in Paccar during the first quarter valued at $224,000. Finally, Advisor Group Inc. acquired a new position in Paccar during the second quarter valued at $222,000. 62.25% of the stock is currently owned by hedge funds and other institutional investors.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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