PACCAR Inc. (NASDAQ:PCAR) Receives $104.59 Consensus Price Target from Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given an average recommendation of “Hold” by the thirteen brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $104.59.

A number of brokerages recently commented on PCAR. Citigroup raised their price target on PACCAR from $95.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $90.00 in a research note on Wednesday, April 30th. UBS Group lowered PACCAR from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $108.00 to $78.00 in a research note on Monday, April 7th. Truist Financial reduced their price objective on PACCAR from $113.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, April 8th. Finally, Melius raised PACCAR from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th.

PACCAR Stock Up 0.0%

Shares of NASDAQ PCAR opened at $94.89 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. PACCAR has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a market capitalization of $49.81 billion, a P/E ratio of 14.38, a PEG ratio of 3.51 and a beta of 0.95. The stock’s fifty day moving average is $92.69 and its 200 day moving average is $99.73.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter in the previous year, the business posted $2.27 EPS. The firm’s revenue for the quarter was down 16.0% on a year-over-year basis. Sell-side analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend was Wednesday, May 14th. PACCAR’s payout ratio is 20.00%.

Insider Activity

In other news, Director Pierre R. Breber purchased 5,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of hedge funds have recently made changes to their positions in PCAR. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 221.8% in the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock worth $29,000 after acquiring an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new position in shares of PACCAR in the first quarter worth approximately $29,000. Sunbelt Securities Inc. lifted its stake in shares of PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company’s stock worth $37,000 after acquiring an additional 350 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after acquiring an additional 274 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.