PACCAR Inc (NASDAQ:PCAR) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 11,203,645 shares, a growth of 17.1% from the February 15th total of 9,570,471 shares. Currently, 3.3% of the shares of the company are sold short. Based on an average daily volume of 2,872,251 shares, the short-interest ratio is currently 3.9 days.
A number of brokerages have recently issued reports on PCAR. Susquehanna Bancshares set a $78.00 price objective on PACCAR and gave the stock a “hold” rating in a report on Friday. Longbow Research upgraded PACCAR from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a report on Tuesday, March 6th. Morgan Stanley began coverage on PACCAR in a report on Friday, March 2nd. They set an “underweight” rating and a $69.00 price objective for the company. ValuEngine upgraded PACCAR from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Wells Fargo & Co restated a “hold” rating and set a $75.00 price objective (down previously from $80.00) on shares of PACCAR in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $76.24.
In other PACCAR news, VP Marco A. Davila purchased 570 shares of PACCAR stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of $69.05 per share, for a total transaction of $39,358.50. Following the completion of the acquisition, the vice president now owns 7,536 shares of the company’s stock, valued at approximately $520,360.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.64% of the company’s stock.
Shares of PACCAR (NASDAQ:PCAR) opened at $69.07 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.34. The stock has a market capitalization of $24,640.00, a P/E ratio of 16.21, a P/E/G ratio of 1.32 and a beta of 1.21. PACCAR has a 12 month low of $61.93 and a 12 month high of $79.69.
PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, January 30th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.06. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.87 billion. PACCAR had a return on equity of 19.65% and a net margin of 8.61%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. research analysts predict that PACCAR will post 5.29 EPS for the current year.
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.
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