PACCAR Inc (NASDAQ:PCAR) Receives $117.83 Consensus Target Price from Brokerages

PACCAR Inc (NASDAQ:PCAR) has earned an average recommendation of “Hold” from the fourteen brokerages that are currently covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $118.25.

A number of brokerages recently issued reports on PCAR. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday. Morgan Stanley reduced their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. BNP Paribas raised PACCAR to a “hold” rating in a report on Wednesday, October 16th. Finally, Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and raised their price target for the company from $99.00 to $129.00 in a report on Wednesday, November 13th.

PACCAR Stock Performance

Shares of PCAR opened at $114.83 on Friday. The company has a 50-day simple moving average of $109.82 and a two-hundred day simple moving average of $103.70. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03. The firm has a market capitalization of $60.21 billion, a PE ratio of 12.83, a price-to-earnings-growth ratio of 1.82 and a beta of 0.91. PACCAR has a one year low of $90.04 and a one year high of $125.50.

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

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is 13.41%.

Insider Activity

In other PACCAR news, VP Todd R. Hubbard sold 3,230 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the transaction, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This trade represents a 51.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $106.93, for a total value of $2,138,600.00. Following the sale, the chief financial officer now owns 105,558 shares of the company’s stock, valued at approximately $11,287,316.94. This represents a 15.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,315 shares of company stock valued at $6,358,552 in the last 90 days. 2.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the business. Mengis Capital Management Inc. boosted its stake in shares of PACCAR by 2.9% during the 3rd quarter. Mengis Capital Management Inc. now owns 191,157 shares of the company’s stock worth $18,863,000 after acquiring an additional 5,433 shares during the last quarter. Fisher Asset Management LLC lifted its position in PACCAR by 1.8% during the third quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after purchasing an additional 89,245 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in PACCAR by 28.1% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 24,790 shares of the company’s stock valued at $2,552,000 after purchasing an additional 5,437 shares during the period. Charles Schwab Investment Management Inc. increased its position in PACCAR by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,052,899 shares of the company’s stock worth $301,260,000 after buying an additional 47,855 shares in the last quarter. Finally, Kinsale Capital Group Inc. lifted its position in shares of PACCAR by 17.2% during the 3rd quarter. Kinsale Capital Group Inc. now owns 50,794 shares of the company’s stock valued at $5,012,000 after buying an additional 7,451 shares in the last quarter. Hedge funds and other 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.