PACCAR Inc. (PCAR) Raised to “Buy” at Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) upgraded shares of PACCAR Inc. (NASDAQ:PCAR) from a neutral rating to a buy rating in a research note released on Thursday, MarketBeat.com reports. Goldman Sachs Group, Inc. (The) currently has $79.00 price target on the stock.

“We see 8 percent upside to FactSet consensus and note the upgrade shifts the mix of our Buy ratings to higher-returns businesses,” the firm said.Downgrading Terex On Valuation Goldman downgraded shares of Terex to Neutral from Buy, as the stock trades in-line with its 12-month price target of $37. The firm clarified that its Buy-rated stocks present 22-percent upside from current levels.The firm said it remains positive on Terex’s turnaround plan.”But with capital re-allocation initiatives nearly complete and the stock now trading at 13x our unchanged mid-cycle EPS estimate of $2.90, we believe the risk-reward has moved into balance,,” the firm’s analyst commented.

Several other equities analysts have also commented on PCAR. Jefferies Group LLC reaffirmed a buy rating and set a $77.00 target price on shares of PACCAR in a report on Friday, March 17th. Royal Bank Of Canada reaffirmed a buy rating and set a $75.00 target price on shares of PACCAR in a report on Wednesday, March 22nd. Deutsche Bank AG upped their target price on PACCAR from $71.00 to $73.00 and gave the company a hold rating in a report on Thursday, April 6th. Seaport Global Securities reaffirmed a buy rating and set a $80.00 target price on shares of PACCAR in a report on Thursday, April 6th. Finally, Credit Suisse Group set a $68.00 target price on PACCAR and gave the company a hold rating in a report on Wednesday, April 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $69.19.

Shares of PACCAR (NASDAQ:PCAR) opened at 65.19 on Thursday. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 16.11 and a beta of 1.14. PACCAR has a 52-week low of $48.17 and a 52-week high of $70.12. The firm has a 50-day moving average price of $64.31 and a 200-day moving average price of $66.25.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, April 25th. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $4.24 billion during the quarter, compared to analyst estimates of $3.85 billion. PACCAR had a return on equity of 19.13% and a net margin of 8.56%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. Analysts predict that PACCAR will post $3.69 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 6th. Investors of record on Friday, May 19th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.53%. This is a positive change from PACCAR’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, May 17th. PACCAR’s dividend payout ratio is 24.69%.

In other PACCAR news, VP Alma Lily Ley sold 904 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $67.39, for a total value of $60,920.56. Following the completion of the sale, the vice president now directly owns 1,679 shares in the company, valued at $113,147.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.64% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. increased its stake in PACCAR by 6.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,588 shares of the company’s stock worth $107,000 after buying an additional 95 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in PACCAR by 33.3% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,600 shares of the company’s stock worth $108,000 after buying an additional 400 shares during the period. Private Advisor Group LLC purchased a new stake in PACCAR during the first quarter worth $175,000. Boltwood Capital Management purchased a new stake in PACCAR during the first quarter worth $201,000. Finally, Schneider Downs Wealth Management Advisors LP purchased a new stake in PACCAR during the first quarter worth $202,000. Hedge funds and other institutional investors own 61.75% of the company’s stock.

PACCAR Company Profile

PACCAR Inc (PACCAR) is a technology company. The Company’s segments include Truck, Parts and Financial Services. The Truck segment includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks. The Company’s trucks are marketed under the Kenworth, Peterbilt and DAF nameplates.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PCAR”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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