PACCAR Inc (PCAR) is Initiated by CLSA to Outperform

PACCAR Inc (PCAR) was Initiated by CLSA to “Outperform”. CLSA advised their investors in a research report released on Sep 30, 2016.

Many Wall Street Analysts have commented on PACCAR Inc. Deutsche Bank Initiated PACCAR Inc on Sep 7, 2016 to “Hold”, Price Target of the shares are set at $63.Longbow Downgraded PACCAR Inc on Jul 19, 2016 to ” Underperform”, Price Target of the shares are set at $44.

On the company’s financial health, PACCAR Inc reported $1.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.02. The company had revenue of $4115.80 million for the quarter, compared to analysts expectations of $4119.27 million. The company’s revenue was down -14.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.26 EPS.

PACCAR Inc opened for trading at $57.1 and hit $57.44 on the upside on Tuesday, eventually ending the session at $57.38, with a gain of 0.33% or 0.19 points. The heightened volatility saw the trading volume jump to 15,01,399 shares. Company has a market cap of $20,113 M.

Investors should note that on Sep 13, 2016, PACCAR Inc announced a cash dividend of $0.2400. The company’s management has announced Nov 16, 2016 as the ex-dividend date and fixed the record date on Nov 18, 2016. The payable date has been fixed on Dec 2, 2016.

In a different news, on May 20, 2016, Robert J. Christensen (CFO) purchased 849 shares at $55.51 per share price. According to the SEC, on May 3, 2016, Ronald E Armstrong (Chief Executive Officer) sold 11,783 shares at $58.72 per share price. On May 3, 2016, Harrie Schippers (Vice President) sold 14,405 shares at $58.95 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 Company’s trucks are marketed under the Kenworth Peterbilt and DAF nameplates. It also manufactures industrial winches in two plants in the United States.

PACCAR Inc

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