Paccar (NASDAQ:PCAR)‘s stock had its “neutral” rating restated by Zacks in a note issued to investors on Wednesday, Analyst Ratings Network reports. They currently have a $59.00 price objective on the stock. Zacks‘ price objective would suggest a potential upside of 4.19% from the company’s current price.
Zacks‘ analyst wrote, “PACCAR’s third quarter 2013 earnings of $0.87 per share beat the Zacks Consensus Estimate by $0.02 per share and surged 31.8% from the year-ago quarter. The increase was attributable to the increase in truck and aftermarket parts sales along with pre-tax profits in financial services. Revenues increased 13% to $4.3 billion, surpassing the Zacks Consensus Estimate of $4.16 billion. PACCAR enjoys a strong market share and expects a boost in sales due to the ongoing replacement of the aging truck population. This led the company to enhance its capital outlay in order to boost product lineups and manufacturing operating efficiency. Therefore, we continue with our Neutral recommendation on the stock.”
A number of other firms have also recently commented on PCAR. Analysts at Longbow Research initiated coverage on shares of Paccar in a research note to investors on Tuesday, October 15th. They set a “neutral” rating on the stock. Analysts at Susquehanna initiated coverage on shares of Paccar in a research note to investors on Wednesday, August 21st. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and one has given a buy rating to the company’s stock. Paccar presently has a consensus rating of “Hold” and an average price target of $57.29.
Paccar (NASDAQ:PCAR) traded down 2.08% during mid-day trading on Wednesday, hitting $55.45. 883,538 shares of the company’s stock traded hands. Paccar has a 52 week low of $38.76 and a 52 week high of $60.00. The stock’s 50-day moving average is $55.33 and its 200-day moving average is $52.79. The company has a market cap of $19.628 billion and a P/E ratio of 19.81.
Paccar (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 29th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.85 by $0.02. The company had revenue of $4.30 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Paccar will post $3.24 EPS for the current fiscal year.
PACCAR Inc (NASDAQ:PCAR) is engaged in the design, manufacture and customer support of light, medium- and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates.
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