PACCAR Inc. (NASDAQ:PCAR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of PACCAR Inc. (NASDAQ:PCAR) have earned an average rating of “Moderate Buy” from the nineteen analysts that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $111.0385.

A number of equities research analysts have weighed in on PCAR shares. Sanford C. Bernstein reiterated an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research report on Friday, December 5th. Wells Fargo & Company started coverage on shares of PACCAR in a research report on Thursday, November 13th. They set a “positive” rating and a $106.00 price objective for the company. Jefferies Financial Group restated a “hold” rating and set a $90.00 target price on shares of PACCAR in a research note on Tuesday, October 21st. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Finally, Truist Financial raised their price objective on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd.

PACCAR Stock Up 0.5%

PCAR opened at $118.80 on Friday. The company has a market cap of $62.39 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 14.78 and a beta of 1.01. The company has a 50-day moving average price of $106.78 and a 200 day moving average price of $101.16. PACCAR has a twelve month low of $84.65 and a twelve month high of $119.21. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. During the same period in the previous year, the company earned $1.85 EPS. PACCAR’s quarterly revenue was down 20.7% compared to the same quarter last year. Sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.1%. PACCAR’s payout ratio is 25.83%.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This represents a 87.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in PACCAR by 53.8% during the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC grew its position in shares of PACCAR by 2.9% during the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after acquiring an additional 105 shares during the last quarter. Fulton Bank N.A. increased its holdings in shares of PACCAR by 3.2% in the 4th quarter. Fulton Bank N.A. now owns 3,458 shares of the company’s stock valued at $379,000 after acquiring an additional 107 shares during the period. Foundations Investment Advisors LLC raised its position in PACCAR by 3.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock valued at $358,000 after purchasing an additional 108 shares during the last quarter. Finally, Intellectus Partners LLC boosted its stake in PACCAR by 1.0% during the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock worth $1,015,000 after purchasing an additional 109 shares during the period. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.