PACCAR (NASDAQ: PCAR)‘s stock had its “neutral” rating reaffirmed by Zacks Investment Research in a report issued on Thursday. They currently have a $46.00 price target on the stock.
Zacks’ analyst wrote, “PACCAR posted a robust 93% increase in profit to $327.7 million or $0.91 per share in the fourth quarter of 2011, beating the Zacks Consensus Estimate by $0.12. The improvement in profit was due to higher aftermarket revenues, increased profits in Financial Services and a positive impact from geographic diversification. The company also recorded the highest quarterly revenues in its history at $4.85 billion, which also exceeded the Zacks Consensus Estimate of $4.21 billion. PACCAR maintains a robust market share, bolstered by strong growth in existing and new markets. However, its Class 8 truck markets and the Financial Services segment face tough competition. Considering all these factors, we have maintained our Neutral recommendation on the stock and set a target price of $46.00. “
Separately, analysts at Goldman Sachs (NYSE: GS) raised their price target on shares of PACCAR to $47.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Also, analysts at JPMorgan Chase & Co. (NYSE: JPM) downgraded shares of PACCAR from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday, January 3rd. They now have a $41.00 price target on the stock.
PACCAR Inc is engaged in the design, manufacture and customer support of light, medium and heavy-duty trucks under the Kenworth, Peterbilt and DAF nameplates. The Company also provides customized financial services, information technology and truck parts. The Company operates in two segments: design, manufacture and distribution of light-, medium- and heavy-duty trucks and related aftermarket parts and finance and leasing products and services provided to customers and dealers. The Company’s finance and leasing activities are principally related to its products and associated equipment. Other manufactured products include industrial winches.
Shares of PACCAR traded down 1.95% during mid-day trading on Thursday, hitting $43.24. PACCAR has a one year low of $31.57 and a one year high of $54.58. The stock’s 50-day moving average is $40.68 and its 200-day moving average is $39.60. The company has a market cap of $15.489 billion and a P/E ratio of 18.31.
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