Economy

Erratic Trading Showing Unusual Volume in Shares of PACCAR Inc (NASDAQ:PCAR)

Revenue during the quarter was $4.4 billion, representing 7% growth from $4.12 billion in year-ago quarter. The Lower end of the earnings estimate is $0.89, while the higher end of the earnings estimate is $1.31. PCAR is covered by 16 analysts who by consensus are expecting earnings to increase from today's level of $3.752 to $5.019 over the next couple of years. The company is expected to report its next earnings report before the market opens on Tuesday, October 24th. Paccar Inc had 72 analyst reports since July 30, 2015 according to SRatingsIntel. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover PACCAR. Comparatively, PCAR posted earnings of $0.9 per share in the same quarter, a year earlier. (NYSE:WDR) posted quarterly earnings of $.39 which compared to the sell-side estimates of.4. The fund owned 29,000 shares of the company's stock after acquiring an additional 8,000 shares during the quarter. During the same period in the previous year, the business earned $1.21 EPS. Buckingham Research initiated coverage on shares of PACCAR in a report on Tuesday, September 5th. Commonwealth Equity Serv Inc holds 0.01% or 34,018 shares. Analysts have placed a $76.11 price target on PACCAR Inc, suggesting a 1.59% gain from recent close. J P Morgan Chase & Co upgraded shares of PACCAR from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $70.00 to $83.00 in a report on Wednesday, October 4th. Analysts set a 12-month price target of $2.82 a share. Finally, BidaskClub upgraded PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, August 8th. The stock has an average rating of "Hold" and a consensus target price of $75.84. The shares were sold at an average price of $67.89, for a total transaction of $189,141.54. IFP Advisors Inc now owns 1,867 shares of the company's stock valued at $123,000 after purchasing an additional 890 shares during the period. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Several institutional investors and hedge funds have recently made changes to their positions in PCAR.

PACCAR Inc has a beta of 0.76, offering the possibility of a higher rate of return, but also posing more risk.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. Principal Financial Group Inc. increased its holdings in PACCAR by 381.5% in the second quarter. PNC Financial Services Group Inc. now owns 21,024 shares of the company's stock valued at $1,413,000 after purchasing an additional 2,396 shares in the last quarter. Blackrock stated it has 1.16M shares or 0% of all its holdings. The business's revenue was down 12.3% on a year-over-year basis. Global X Management Co. For the past 5 days of trading, the stock has seen a move of 3.07%. Finally, Amalgamated Bank increased its holdings in shares of PACCAR by 1.1% in the 1st quarter. Point72 Europe London LLP acquired a new stake in PACCAR in the first quarter valued at $1,137,000. Investors may choose to review analyst projections and then make their own decisions on what they think the company will report for the quarter. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & global trademark and copyright law. The original version of this piece can be accessed at https://www.truebluetribune.com/2017/10/24/paccar-inc-pcar-pt-raised-to-81-00.html. 2,587,183 shares of the company's stock were exchanged. The stock was trading at a distance of -4.06% from its 52-week highs and stands 38.50% away from its 52-week lows. The company's 50 day moving average price is $62.56 and its 200 day moving average price is $57.97. Stockholders of record on Tuesday, February 14th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, February 10th.



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