Morgan Stanley Issues Positive Forecast for PACCAR (NASDAQ:PCAR) Stock Price

PACCAR (NASDAQ:PCAR) had its price target lifted by Morgan Stanley from $109.00 to $113.00 in a report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

PCAR has been the subject of a number of other research reports. Truist Financial raised their price objective on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Evercore set a $139.00 price target on PACCAR in a research note on Monday, May 11th. Citigroup reissued a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of PACCAR from $140.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $124.18.

PACCAR Stock Performance

PCAR stock opened at $126.20 on Friday. PACCAR has a one year low of $92.25 and a one year high of $131.88. The firm has a market cap of $66.42 billion, a price-to-earnings ratio of 26.85, a PEG ratio of 1.17 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a 50-day simple moving average of $117.32 and a two-hundred day simple moving average of $119.60.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, equities analysts forecast that PACCAR will post 5.62 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 12th. PACCAR’s payout ratio is presently 29.79%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Ares Financial Consulting LLC acquired a new position in PACCAR during the fourth quarter worth about $27,000. MCF Advisors LLC raised its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the last quarter. Steph & Co. purchased a new position in PACCAR in the 1st quarter worth approximately $29,000. Elyxium Wealth LLC purchased a new position in PACCAR in the 4th quarter worth approximately $30,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of PACCAR during the 3rd quarter worth approximately $32,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.