Movement Alert｜PACCAR Inc After-Hours Rise 3.48%, investors reassess truck-cycle durability after earnings beat and a slight target cut

Market Focus10-29

On October 29, PACCAR Inc rose 3.48% in After-Hours Trading to $107.1 per share, with turnover of $11.2418 million.

The move came as the market continued to reassess the durability of the heavy-truck recovery after a broker trimmed its price target to $124 from $125 while maintaining a Hold rating, even after the company reported third-quarter results above expectations.

PACCAR Inc posted quarterly EPS of $1.61, above the $1.59 consensus, while revenue reached $7.94 billion, up 19.0% year over year and also ahead of expectations. By segment, parts revenue hit a record $1.78 billion for the quarter, and financial services delivered pretax profit of $138.1 million, indicating that aftermarket and financing operations continued to support profitability even as investors remained focused on the sustainability of the vehicle-cycle recovery.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment