PACCAR Inc (PCAR) was Upgraded by Robert W. Baird to ” Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 66 from a previous price target of $62 . Earlier the firm had a rating of “Neutral ” on the company shares. Robert W. Baird advised their investors in a research report released on Apr 27, 2016.
Many Wall Street Analysts have commented on PACCAR Inc. PACCAR Inc was Downgraded by Macquarie to ” Neutral” on Apr 11, 2016.
On the company’s financial health, PACCAR Inc reported $0.99 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.96. The company had revenue of $4010.60 million for the quarter, compared to analysts expectations of $4051.19 million. The company’s revenue was down -11.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.06 EPS.
PACCAR Inc opened for trading at $55.99 and hit $56.8 on the upside on Friday, eventually ending the session at $56.49, with a gain of 1.04% or 0.58 points. The heightened volatility saw the trading volume jump to 23,15,875 shares. Company has a market cap of $19,856 M.
In a different news, on Feb 22, 2016, Darrin C Siver (VICE PRESIDENT) sold 2,505 shares at $50.55 per share price. According to the SEC, on Feb 17, 2016, David C Anderson (Vice President/General Counsel) sold 12,586 shares at $50.87 per share price. On Nov 10, 2015, Mark C Pigott (Executive Chairman) sold 73,671 shares at $52.23 per share price, according to the Form-4 filing with the securities and exchange commission.
PACCAR Inc is a company operating in three principal industry segments: the Truck segment includes the design manufacture and distribution of light- medium- and heavy-duty commercial trucks; the Parts segment includes the distribution of aftermarket parts for trucks and related commercial vehicles and the Financial Services segment includes finance and leasing products and services provided to customers and dealers in the United States Canada Mexico Europe and Australia. The Company also operates in Australia and Brazil and sells trucks and parts to customers in Asia Africa Middle East and South America. The Companys trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.