PACCAR Inc. Keeps Cruising, but the Market's Worried About Something
PACCAR Inc. (NASDAQ: PCAR) reported strong results for its third quarter on Oct. 24. Revenue increased 19% and net income was up 16%, with both numbers even coming in ahead of Wall Street analyst expectations. And as is typical of Mr. Market, PACCAR shares fell as much as 7.5% during afternoon trading and closed down almost 6% on the day.
So what spooked investors following a solid quarter? There were a few comments from management on the earnings call that could have played a role in sending the stock price down. Let's take a closer look at PACCAR's results, as well as what management had to say, and what the long-term implications are.
Image source: PACCAR.
Source: Fool.com
PACCAR Inc. Stock
€85.06
0.190%
With 12 Buy predictions and not the single Sell prediction the community is currently very high on PACCAR Inc..
With a target price of 107 € there is a positive potential of 25.79% for PACCAR Inc. compared to the current price of 85.06 €.
