Wells Fargo & Co Raises PACCAR (PCAR) Price Target to $80.00

PACCAR (NASDAQ:PCAR) had its target price raised by Wells Fargo & Co from $75.00 to $80.00 in a research note issued to investors on Thursday morning. They currently have a market perform rating on the stock.

A number of other analysts have also recently commented on the stock. Seaport Global Securities restated a neutral rating on shares of PACCAR in a report on Tuesday. Royal Bank of Canada restated a buy rating and set a $82.00 target price on shares of PACCAR in a report on Thursday, January 11th. Bank of America upgraded shares of PACCAR from a neutral rating to a buy rating and set a $70.00 target price on the stock in a report on Tuesday, January 2nd. Piper Jaffray Companies set a $67.00 target price on shares of PACCAR and gave the company a hold rating in a report on Sunday, December 10th. Finally, Zacks Investment Research lowered PACCAR from a buy rating to a hold rating in a research report on Monday, December 11th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $75.58.

Shares of PACCAR (NASDAQ PCAR) traded up $1.11 during mid-day trading on Thursday, hitting $77.51. 1,962,044 shares of the stock were exchanged, compared to its average volume of 1,900,000. PACCAR has a 1 year low of $61.93 and a 1 year high of $77.64. The company has a market cap of $27,250.00, a PE ratio of 19.87, a PEG ratio of 1.62 and a beta of 1.22. The company has a current ratio of 2.56, a quick ratio of 2.40 and a debt-to-equity ratio of 0.75.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 24th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.06. PACCAR had a net margin of 7.61% and a return on equity of 18.77%. The firm had revenue of $4.73 billion for the quarter, compared to analysts’ expectations of $4.57 billion. During the same quarter in the previous year, the business posted $0.98 EPS. The company’s quarterly revenue was up 19.7% on a year-over-year basis. equities research analysts expect that PACCAR will post 4.18 earnings per share for the current year.

The business also recently declared a special dividend, which was paid on Thursday, January 4th. Stockholders of record on Thursday, December 14th were given a $1.20 dividend. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, December 13th. PACCAR’s dividend payout ratio is presently 25.64%.

In other PACCAR news, VP Alma Lily Ley sold 4,024 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $71.00, for a total value of $285,704.00. Following the completion of the transaction, the vice president now owns 24,319 shares of the company’s stock, valued at approximately $1,726,649. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP C Michael Dozier sold 3,618 shares of the business’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $69.02, for a total value of $249,714.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,598 shares of company stock valued at $7,597,908. 2.64% of the stock is owned by insiders.

Large investors have recently modified their holdings of the business. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in PACCAR by 18.8% in the 2nd quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 1,900 shares of the company’s stock worth $125,000 after buying an additional 300 shares during the last quarter. Sun Life Financial INC raised its position in PACCAR by 19,884.6% in the 2nd quarter. Sun Life Financial INC now owns 2,598 shares of the company’s stock worth $172,000 after buying an additional 2,585 shares during the last quarter. Institute for Wealth Management LLC. purchased a new position in PACCAR in the 2nd quarter worth about $201,000. Cetera Investment Advisers purchased a new position in PACCAR in the 2nd quarter worth about $204,000. Finally, Hartland & Co. LLC purchased a new position in PACCAR in the 3rd quarter worth about $206,000. 62.26% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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