NEW YORK (TheStreet) -- Shares of PACCAR (PCAR) - Get Report are jumping 4.57% to $58.47 on heavy trading volume Tuesday afternoon after the company posted higher-than-expected results for the 2016 second quarter.
Before today's market open, the Bellevue, WA-based company reported earnings of $1.06 per diluted share, above analysts' expectations of $1.02 per share.
Revenue for the period was $4.41 billion, topping analysts' projections of $4.17 billion.
"PACCAR's financial results reflect favorable truck markets and good aftermarket parts and financial services results worldwide," CEO Ron Armstrong said in a statement.
The company designs, manufactures and provides customer support of high-quality premium trucks.
About 3.65 million of PACCAR's shares were traded so far today vs. its average 30-day volume of 2.65 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
This is driven by a number of strengths, which should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks covered.
Among the primary strengths of the company is its generally strong cash flow from operations.
The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: PCAR