PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by Evercore ISI

Evercore ISI upgraded shares of PACCAR (NASDAQ:PCAR) from an in-line rating to an outperform rating in a research note released on Wednesday, MarketBeat reports. The brokerage currently has $129.00 price objective on the stock, up from their prior price objective of $99.00.

Several other research firms also recently commented on PCAR. JPMorgan Chase & Co. lowered their target price on shares of PACCAR from $125.00 to $122.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 target price on shares of PACCAR in a research report on Monday, November 4th. Finally, BNP Paribas upgraded shares of PACCAR to a “hold” rating in a report on Wednesday, October 16th. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $116.55.

PACCAR Trading Down 2.4 %

NASDAQ PCAR opened at $112.26 on Wednesday. PACCAR has a 1-year low of $90.04 and a 1-year high of $125.50. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $58.86 billion, a PE ratio of 12.54, a price-to-earnings-growth ratio of 1.83 and a beta of 0.89. The firm’s fifty day simple moving average is $104.03 and its 200-day simple moving average is $102.82.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The business had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. PACCAR’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. As a group, sell-side analysts anticipate that PACCAR will post 7.98 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Wednesday, November 13th. PACCAR’s payout ratio is presently 13.41%.

Insider Activity at PACCAR

In related news, CEO R Preston Feight sold 27,191 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares in the company, valued at approximately $17,782,251.52. This trade represents a 13.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $107.27, for a total transaction of $346,482.10. Following the completion of the sale, the vice president now owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. The trade was a 51.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,315 shares of company stock worth $6,358,552. Company insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Security National Bank lifted its stake in PACCAR by 4.2% during the second quarter. Security National Bank now owns 2,328 shares of the company’s stock worth $240,000 after purchasing an additional 93 shares during the period. Brookstone Capital Management lifted its stake in PACCAR by 4.1% during the second quarter. Brookstone Capital Management now owns 2,366 shares of the company’s stock worth $258,000 after purchasing an additional 94 shares during the period. CVA Family Office LLC lifted its stake in PACCAR by 13.3% during the third quarter. CVA Family Office LLC now owns 827 shares of the company’s stock worth $82,000 after purchasing an additional 97 shares during the period. Omnia Family Wealth LLC lifted its stake in PACCAR by 2.5% during the third quarter. Omnia Family Wealth LLC now owns 3,993 shares of the company’s stock worth $394,000 after purchasing an additional 98 shares during the period. Finally, Grove Bank & Trust lifted its stake in PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after purchasing an additional 103 shares during the period. Institutional investors own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.