Why PACCAR (PCAR) Stock Might be a Great Pick
One stock that might be an intriguing choice for investors right now is PACCAR Inc. PCAR. This is because this security in the Automotive - Domestic space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Automotive - Domestic space as it currently has a Zacks Industry Rank of 19 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, PACCAR is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past two months, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
PACCAR Inc. Price and Consensus
PACCAR Inc. price-consensus-chart | PACCAR Inc. Quote
In fact, over the past two months, current quarter estimates have risen from 98 cents per share to $1.02 per share, while current year estimates have risen from $3.69 per share to $3.74 per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider PACCAR. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PACCAR Inc. (PCAR) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
