NEW YORK (TheStreet) -- Shares of PACCAR (PCAR - Get Report) are climbing 4.73% to $58.70 on heavy trading volume on Tuesday afternoon after posting better-than-expected earnings for the 2016 first quarter.
Before today's market open, the Bellevue, WA-based truck manufacturer posted adjusted earnings of 99 cents per diluted share, exceeding analysts' estimates of 96 cents per share.
Revenue for the quarter was $4.01 billion, below Wall Street's estimates of $4.12 billion.
"PACCAR benefitted from a favorable truck market in North America and record DAF market share of 16.6% year-to-date in Europe. PACCAR generated increased truck and parts segment margins, and good financial services results worldwide," CEO Ron Armstrong said in a statement.
DAF Trucks is a division of PACCAR.
About 3.06 million of the company's shares changed hands so far today vs. its average volume of 2.15 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its notable return on equity, attractive valuation levels, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures.
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