Paccar Inc Receives a Buy from JefferiesBy Jason Carr
In a report released today, Stephen Volkmann from Jefferies reiterated a Buy rating on Paccar Inc (NASDAQ: PCAR), with a price target of $77. The company’s shares opened today at $69.18, close to its 52-week high of $70.12.
According to TipRanks.com, Volkmann is a top 100 analyst with an average return of 17.8% and a 75.6% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as United Technologies Corp, Honeywell International, and Illinois Tool Works.
Currently, the analyst consensus on Paccar Inc is Moderate Buy and the average price target is $72.20, representing a 4.4% upside.
In a report issued on March 3, BMO Capital also reiterated a Buy rating on the stock with a $85 price target.
Based on Paccar Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $4.06 billion and quarterly net profit of $289 million. In comparison, last year the company earned revenue of $4.36 billion and had a net profit of $347 million.
Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. Last month, Harrie Schippers, the VP of PCAR sold 5,314 shares for a total of $364,806.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
PACCAR, Inc. is a global technology company engaged in the design, manufacture and customer support of premium light, medium and heavy-duty trucks. It operates through the following segments: Truck, Parts, Financial Services and Other Businesses. The Truck segment includes the design and manufacturing of heavy, medium and light duty diesel trucks which are marketed under the Kenworth, Peterbilt and DAF nameplates. The Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles in the U.S., Canada, Europe, Australia, Mexico and South America. The Financial Services segment is composed of finance and leasing products and services provided to truck customers and dealers. The Other Businesses segment includes a division of the company which manufactures industrial winches in two U.S. plants and markets them under the Braden, Carco and Gearmatic nameplates. The company also operates in Australia and sells trucks and parts to customers in Asia, Africa, Middle East and South America. PACCAR was founded by William Pigott Sr. in 1905 and is headquartered in Bellevue, WA.