NEW YORK (TheStreet) --Shares of PACCAR Inc. (PCAR) - Get PACCAR Inc Report are higher by 1.771% to $62.38 in mid-afternoon trading on Tuesday, after the company reported an increase in third quarter 2014 net income to $371.4 million, or $1.04 per diluted share, compared to $309.4 million, or 87 cents per diluted share for the same period last year.
The truck maker said revenue for the latest quarter grew by 15% to $4.93 billion, from $4.30 billion for the 2013 third quarter.
Analysts polled by Thomson Reuters expected the company to post earnings of 96 cents per share, on revenue of $4.46 billion for the 2014 third quarter.
"PACCAR's third quarter results reflect the benefits of strong truck sales in the U.S. and Canada, and excellent aftermarket parts revenues and financial services results worldwide," said company CEO Ron Armstrong.
Separately, TheStreet Ratings team rates PACCAR INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate PACCAR INC (PCAR) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, notable return on equity and reasonable valuation levels. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
You can view the full analysis from the report here: PCAR Ratings Report