PACCAR Inc (NASDAQ:PCAR) Receives Average Recommendation of “Hold” from Analysts

Shares of PACCAR Inc (NASDAQ:PCAR) have earned an average recommendation of “Hold” from the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $112.73.

A number of research firms recently issued reports on PCAR. Truist Financial dropped their price target on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a research note on Wednesday, July 24th. Citigroup dropped their price target on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Raymond James began coverage on PACCAR in a research note on Friday, June 28th. They set a “market perform” rating on the stock. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th.

PACCAR Trading Up 0.2 %

Shares of PACCAR stock opened at $94.53 on Thursday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a fifty day simple moving average of $99.81 and a 200-day simple moving average of $107.91. The stock has a market cap of $49.55 billion, a price-to-earnings ratio of 9.81, a PEG ratio of 1.47 and a beta of 0.92. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The firm had revenue of $8.26 billion for the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.33 EPS. On average, equities analysts forecast that PACCAR will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 15th will be issued a $0.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the completion of the sale, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently bought and sold shares of PCAR. State Board of Administration of Florida Retirement System increased its position in PACCAR by 4.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 610,934 shares of the company’s stock worth $75,689,000 after buying an additional 27,963 shares in the last quarter. BDF Gestion purchased a new position in PACCAR during the second quarter worth $2,862,000. California State Teachers Retirement System increased its position in PACCAR by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 823,651 shares of the company’s stock worth $80,430,000 after buying an additional 9,978 shares in the last quarter. Advisory Services Network LLC increased its position in PACCAR by 15.9% during the first quarter. Advisory Services Network LLC now owns 56,051 shares of the company’s stock worth $6,944,000 after buying an additional 7,678 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in PACCAR by 18.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 666,638 shares of the company’s stock worth $82,590,000 after buying an additional 105,109 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

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.