StockNews.com Initiates Coverage on PACCAR (NASDAQ:PCAR)

Equities researchers at StockNews.com assumed coverage on shares of PACCAR (NASDAQ:PCAR – Get Rating) in a note issued to investors on Thursday. The firm set a “buy” rating on the stock.

Other analysts have also issued reports about the stock. Raymond James increased their price target on shares of PACCAR from $58.00 to $60.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 17th. UBS Group increased their price objective on PACCAR from $49.33 to $51.33 and gave the stock a “neutral” rating in a report on Thursday, February 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on PACCAR from $70.00 to $72.00 and gave the stock a “hold” rating in a report on Wednesday, April 12th. Morgan Stanley dropped their price objective on PACCAR to $64.89 and set an “overweight” rating on the stock in a report on Tuesday, February 7th. Finally, Argus downgraded PACCAR from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $57.36.

PACCAR Price Performance

NASDAQ PCAR opened at $71.53 on Thursday. The company has a 50 day simple moving average of $71.91 and a 200-day simple moving average of $58.72. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $37.38 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 0.95 and a beta of 0.91. PACCAR has a 52-week low of $51.33 and a 52-week high of $76.71.

PACCAR (NASDAQ:PCAR – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.43. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.79 billion. PACCAR had a net margin of 10.20% and a return on equity of 27.38%. The firm’s revenue was up 31.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. Equities research analysts predict that PACCAR will post 7.68 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO R Preston Feight sold 46,523 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $72.64, for a total value of $3,379,430.72. Following the completion of the sale, the chief executive officer now directly owns 128,105 shares of the company’s stock, valued at $9,305,547.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO R Preston Feight sold 46,523 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $72.64, for a total value of $3,379,430.72. Following the completion of the sale, the chief executive officer now directly owns 128,105 shares of the company’s stock, valued at $9,305,547.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Todd R. Hubbard sold 2,442 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $74.85, for a total value of $182,783.70. Following the completion of the sale, the vice president now directly owns 3,230 shares of the company’s stock, valued at $241,765.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,529 shares of company stock valued at $7,062,964. 2.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Friedenthal Financial bought a new position in PACCAR in the fourth quarter worth $777,000. Capital Investment Counsel Inc lifted its position in PACCAR by 27.5% in the fourth quarter. Capital Investment Counsel Inc now owns 6,950 shares of the company’s stock worth $688,000 after purchasing an additional 1,500 shares during the period. St. James Investment Advisors LLC lifted its position in PACCAR by 44.3% in the fourth quarter. St. James Investment Advisors LLC now owns 505 shares of the company’s stock worth $51,000 after purchasing an additional 155 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in PACCAR by 6.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,091,710 shares of the company’s stock worth $108,047,000 after purchasing an additional 65,873 shares during the period. Finally, HighTower Advisors LLC raised its stake in PACCAR by 21.0% during the fourth quarter. HighTower Advisors LLC now owns 88,312 shares of the company’s stock worth $8,733,000 after acquiring an additional 15,324 shares in the last quarter. 63.92% of the stock is owned by institutional investors.

About PACCAR

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PACCAR, Inc is a global technology company, which engages in the design and manufacture of light, medium, and heavy-duty trucks. It operates through the following segments: Truck, Parts and Financial Services. The Truck segment designs and manufactures heavy, medium, and light duty diesel trucks which are marketed under the Kenworth, Peterbilt, and DAF brands.