PACCAR Inc. (NASDAQ:PCAR) Given Consensus Rating of “Hold” by Analysts

PACCAR Inc. (NASDAQ:PCAR) has been given an average rating of “Hold” by the sixteen brokerages that are presently covering the stock, MarketBeat reports. Eleven research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $122.4545.

PCAR has been the subject of several research analyst reports. Truist Financial lifted their price target on shares of PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a research note on Thursday. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Citigroup reissued a “neutral” rating and issued a $125.00 price objective (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. JPMorgan Chase & Co. reduced their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Finally, BNP Paribas Exane assumed coverage on PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 target price for the company.

PACCAR Stock Performance

PCAR stock opened at $119.50 on Friday. The company has a market capitalization of $62.89 billion, a PE ratio of 25.43, a P/E/G ratio of 1.11 and a beta of 0.97. PACCAR has a 12 month low of $92.25 and a 12 month high of $131.88. The firm’s 50-day moving average is $116.34 and its 200 day moving average is $118.72. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.46 EPS. On average, research analysts anticipate that PACCAR will post 5.59 EPS for the current year.

PACCAR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a dividend of $0.35 per share. This is an increase from PACCAR’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Wednesday, May 13th. PACCAR’s payout ratio is 29.79%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in shares of PACCAR by 0.3% in the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after purchasing an additional 290 shares during the period. Focus Partners Wealth increased its holdings in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after buying an additional 1,812 shares during the period. Treasurer of the State of North Carolina increased its holdings in PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after buying an additional 5,327 shares during the period. Ieq Capital LLC raised its stake in PACCAR by 11.5% in the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after buying an additional 3,858 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in PACCAR in the second quarter worth approximately $81,000. 64.90% of the stock is currently owned by 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.