PACCAR (NASDAQ:PCAR) Upgrade

BMO Capital has boosted Paccar (NASDAQ:PCAR) Stock to “Outperform” in a research note sent to clients and investors on 13 January, and has set an estimated 12-month target price per share at $85.0. PCAR’s old rating was “Market Perform”.

Despite this stock rating upgrade NASDAQ:PCAR is now trading -0.70% lower at $66.33 as of 6:08 AM New York time. PACCAR shares have [From2] 0% in the past 200 days, while the S&P 500 Index has increased 10.00% for the same time period.

According to data compiled by Thomson Reuters, PACCAR (NASDAQ:PCAR)’s stock is covered by 18 equity analysts across the Street, with 2 analysts giving it a Sell rating, 6 a Buy rating, while 16 consider it a Hold. The 12-month consensus target price for the stock is $55.83, which reflects an downside potential of 15.83% over the current price.

Institutional Ownership

Washington Trust Bank had the most significant stake with ownership of 1.81 million shares as of q2 2015 for 25.57% of the US long stock exposure. Thompson Rubinstein Investment Management Inc Or is another bullish investment professional who is owning 282,971 shares of PACCAR or 6.31% of their US long stock exposure. Moreover, Dudley & Shanley Llc have 5.68% of their US long stock exposure invested in the company for 420,320 shares. The Washington-based fund First Washington Corp disclosed it had acquired so far a stake worth about 5.25% of the investment professional’s stock portfolio in PACCAR. The Texas-based fund Mcdaniel Terry & Co is also positive about the stock, possessing 159,407 shares or 3.3% of their US long stock exposure.

PACCAR (NASDAQ:PCAR) Profile

PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers. PACCAR’s other businesses include a division of the Company, which manufactures industrial winches in over two the United States plants and markets them under the Braden, Carco and Gearmatic nameplates.

PACCAR (NASDAQ:PCAR) traded down -0.70% on 13 January, hitting $66.33. A total of shares of the company’s stock traded hands. This is down from average of 2.10M shares. PACCAR has a 52 week low of $43.46 and a 52 week high of $68.5. The company has a market cap of $23.44B and a P/E ratio of 40.42.

Get the latest PACCAR (NASDAQ:PCAR) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Researchers at BMO Capital Upped PACCAR (NASDAQ:PCAR) Rating from “Market Perform” to “Outperform”. The Stock Has 28.15 % Upside Potential and $85.0 Target appeared first on Octafinance.