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

PACCAR Inc. (NASDAQ:PCAR) has received an average recommendation of “Hold” from the sixteen research firms that are presently covering the company, MarketBeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $122.00.

Several equities analysts have weighed in on PCAR shares. BNP Paribas Exane started coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Truist Financial lifted their target price on PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Evercore set a $139.00 target price on PACCAR in a research report on Monday, May 11th. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. decreased their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th.

PACCAR Stock Performance

NASDAQ PCAR opened at $119.69 on Wednesday. The company has a market cap of $62.99 billion, a P/E ratio of 25.47, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The stock has a 50-day moving average of $117.56 and a two-hundred day moving average of $117.26. PACCAR has a 1-year low of $90.05 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a return on equity of 12.81% and a net margin of 8.91%.PACCAR’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 EPS. As a group, analysts anticipate that PACCAR will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 29.79%.

Hedge Funds Weigh In On PACCAR

Several hedge funds and other institutional investors have recently made changes to their positions in PCAR. Norges Bank purchased a new position in shares of PACCAR in the 4th quarter valued at about $727,745,000. Wellington Management Group LLP boosted its stake in shares of PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after buying an additional 3,597,283 shares during the period. UBS Group AG boosted its stake in shares of PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after buying an additional 1,940,260 shares during the period. American Century Companies Inc. boosted its stake in shares of PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after buying an additional 1,784,236 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of PACCAR by 129.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock valued at $249,237,000 after buying an additional 1,286,056 shares during the period. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.