PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Analysts

PACCAR Inc. (NASDAQ:PCAR) has been given an average rating of “Hold” by the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $116.1818.

A number of equities analysts recently weighed in on PCAR shares. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. JPMorgan Chase & Co. increased their target price on PACCAR from $133.00 to $142.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Wall Street Zen raised PACCAR from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research raised PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th.

PACCAR Stock Down 0.9%

NASDAQ:PCAR opened at $115.33 on Friday. The firm has a market cap of $60.69 billion, a P/E ratio of 25.57, a P/E/G ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98. PACCAR has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The firm has a 50-day simple moving average of $122.20 and a two-hundred day simple moving average of $110.13.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 27th. The company reported $1.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. Analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Buying and Selling at PACCAR

In other news, CEO R Preston Feight sold 9,258 shares of PACCAR stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the completion of the sale, the chief executive officer directly owned 258,566 shares in the company, valued at $33,536,010.20. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Paulo Henrique Bolgar sold 12,183 shares of the business’s stock in a transaction that occurred on Friday, January 30th. The shares were sold at an average price of $122.43, for a total transaction of $1,491,564.69. Following the transaction, the vice president directly owned 6,274 shares of the company’s stock, valued at $768,125.82. The trade was a 66.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is owned by company insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds have recently added to or reduced their stakes in PCAR. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter worth $727,745,000. Wellington Management Group LLP increased its position in PACCAR by 18.6% during the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. UBS Group AG increased its position in PACCAR by 74.4% during the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in PACCAR by 2,389.2% in the third quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock valued at $197,705,000 after acquiring an additional 1,930,056 shares during the period. Finally, American Century Companies Inc. boosted its position in PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after purchasing an additional 1,784,236 shares during the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

About PACCAR

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.