Analysts Set PACCAR Inc. (NASDAQ:PCAR) Target Price at $106.54

by · The Cerbat Gem

PACCAR Inc. (NASDAQ:PCAR – Get Free Report) has been assigned an average recommendation of “Hold” from the eighteen brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation, five have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $106.5417.

Several research firms recently commented on PCAR. Truist Financial raised their price objective on shares of PACCAR from $97.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, October 22nd. Weiss Ratings downgraded PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Morgan Stanley set a $90.00 price target on PACCAR in a research report on Tuesday, October 21st. UBS Group set a $103.00 price objective on PACCAR and gave the company a “neutral” rating in a research note on Wednesday, October 22nd. Finally, Evercore ISI set a $114.00 target price on PACCAR and gave the stock an “outperform” rating in a research note on Tuesday, August 19th.

View Our Latest Research Report on PCAR

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the firm’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the completion of the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. This trade represents a 87.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors and hedge funds have recently made changes to their positions in the business. Hazlett Burt & Watson Inc. raised its holdings in shares of PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Fidelis Capital Partners LLC increased its position in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company’s stock worth $366,000 after purchasing an additional 105 shares during the last quarter. Foundations Investment Advisors LLC increased its position in shares of PACCAR by 3.1% in the third quarter. Foundations Investment Advisors LLC now owns 3,640 shares of the company’s stock worth $358,000 after purchasing an additional 108 shares during the last quarter. Intellectus Partners LLC raised its stake in PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company’s stock valued at $1,015,000 after purchasing an additional 109 shares in the last quarter. Finally, Matrix Trust Co lifted its position in PACCAR by 3.9% during the third quarter. Matrix Trust Co now owns 2,948 shares of the company’s stock valued at $290,000 after purchasing an additional 110 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of PCAR stock traded up $0.47 on Friday, hitting $105.42. 993,135 shares of the stock were exchanged, compared to its average volume of 2,898,047. The firm’s 50 day moving average is $98.33 and its two-hundred day moving average is $97.38. PACCAR has a one year low of $84.65 and a one year high of $118.81. The firm has a market capitalization of $55.37 billion, a PE ratio of 20.63, a P/E/G ratio of 4.11 and a beta of 0.95. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. PACCAR’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the company earned $1.85 earnings per share. Sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Investors of record on Wednesday, November 12th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a yield of 1.3%. PACCAR’s payout ratio is currently 25.83%.

PACCAR Company Profile

(Get Free Report)

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.

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