PACCAR Inc (NASDAQ:PCAR) Given Consensus Recommendation of “Hold” by Brokerages

by · The Markets Daily

PACCAR Inc (NASDAQ:PCAR – Get Free Report) has been given a consensus rating of “Hold” by the thirteen research firms that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $114.18.

A number of equities analysts recently commented on the stock. Raymond James assumed coverage on shares of PACCAR in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Evercore ISI lowered their price target on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Truist Financial raised their price target on shares of PACCAR from $103.00 to $107.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Citigroup raised their target price on shares of PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th.

View Our Latest Stock Analysis on PCAR

Insider Activity

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $98.70, for a total value of $2,747,215.80. Following the sale, the chief executive officer now directly owns 162,782 shares in the company, valued at approximately $16,066,583.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PACCAR

A number of hedge funds have recently made changes to their positions in PCAR. Nisa Investment Advisors LLC boosted its position in PACCAR by 1.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 213,294 shares of the company’s stock worth $21,048,000 after buying an additional 2,920 shares during the period. Valley National Advisers Inc. boosted its position in PACCAR by 37,814.0% during the 3rd quarter. Valley National Advisers Inc. now owns 18,957 shares of the company’s stock worth $1,870,000 after buying an additional 18,907 shares during the period. Frank Rimerman Advisors LLC boosted its position in PACCAR by 50.4% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 36,529 shares of the company’s stock worth $3,605,000 after buying an additional 12,239 shares during the period. DekaBank Deutsche Girozentrale boosted its position in PACCAR by 1.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 547,111 shares of the company’s stock worth $53,534,000 after buying an additional 6,115 shares during the period. Finally, GHP Investment Advisors Inc. boosted its position in PACCAR by 6.6% during the 3rd quarter. GHP Investment Advisors Inc. now owns 57,351 shares of the company’s stock worth $5,659,000 after buying an additional 3,563 shares during the period. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Stock Performance

NASDAQ PCAR opened at $104.84 on Friday. The firm has a 50-day moving average of $98.98 and a 200-day moving average of $103.41. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 1.91. The stock has a market cap of $54.96 billion, a PE ratio of 11.71, a P/E/G ratio of 1.62 and a beta of 0.91. PACCAR has a 52-week low of $80.94 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR – Get Free Report) last posted its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. PACCAR had a net margin of 13.51% and a return on equity of 27.24%. The company had revenue of $8.24 billion during the quarter, compared to analysts’ expectations of $7.66 billion. During the same quarter last year, the company posted $2.34 EPS. PACCAR’s quarterly revenue was down 5.2% compared to the same quarter last year. On average, sell-side analysts anticipate that PACCAR will post 8.07 EPS for the current year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. PACCAR’s payout ratio is currently 13.41%.

About PACCAR

(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.

Recommended Stories