CLSA Initiates Coverage on PACCAR Inc to Outperform

CLSA Initiates Coverage on PACCAR Inc(NASDAQ:PCAR). The shares have been rated Outperform. The rating by CLSA was issued on Sep 30, 2016.

In a different note, Deutsche Bank said it Initiates Coverage on PACCAR Inc, according to a research note issued on Sep 7, 2016. The shares have been rated ‘Hold’ by the firm. On Sep 1, 2016, Jefferies said it Maintains its rating on PACCAR Inc. In the research note, the firm Raises the price-target to $65.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 27, 2016, Barclays said it Maintains its rating on PACCAR Inc. In the research note, the firm Raises the price-target to $45.00 per share. The shares have been rated ‘Underweight’ by the firm. On Jul 19, 2016, Longbow Research said it Downgrades its rating on PACCAR Inc. The shares have been rated ‘Underperform’ by the firm.

PACCAR Inc (PCAR) made into the market gainers list on Tuesdays trading session with the shares advancing 0.54% or 0.32 points. Due to strong positive momentum, the stock ended at $59.09, which is also near the day’s high of $59.83. The stock began the session at $58.76 and the volume stood at 19,21,397 shares. The 52-week high of the shares is $60.86 and the 52 week low is $43.46. The company has a current market capitalization of $20,713 M and it has 35,05,28,310 shares in outstanding.

PACCAR Inc has also declared a cash dividend of $0.2400 on Sep 13, 2016. The shares will quote ex-dividend on Nov 16, 2016 and the record date has been fixed on Nov 18, 2016. The dividend payable date has been fixed on Dec 2, 2016.

PACCAR Inc(PCAR) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $4.41B. Analysts had an estimated revenue of $4.18B. Earnings per share were $1.06. Analysts had estimated an EPS of $1.02.

Several Insider Transactions has been reported to the SEC. On May 20, 2016, Robert J. Christensen (CFO) purchased 849 shares at $55.51 per share price.Also, 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.

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