PACCAR (NASDAQ:PCAR) Research Coverage Started at Raymond James

by · The Markets Daily

Raymond James started coverage on shares of PACCAR (NASDAQ:PCAR – Free Report) in a report issued on Friday, MarketBeat.com reports. The firm issued a market perform rating on the stock.

A number of other brokerages have also recently issued reports on PCAR. Truist Financial reiterated a hold rating and set a $121.00 price objective (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. StockNews.com lowered shares of PACCAR from a buy rating to a hold rating in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. UBS Group raised shares of PACCAR from a neutral rating to a buy rating and raised their price target for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. lowered their price objective on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a research report on Wednesday, May 1st. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PACCAR currently has an average rating of Hold and a consensus price target of $114.38.

Read Our Latest Stock Analysis on PACCAR

PACCAR Price Performance

PCAR opened at $102.94 on Friday. The stock has a fifty day simple moving average of $107.60 and a two-hundred day simple moving average of $107.77. The company has a market cap of $53.96 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 1.57 and a beta of 0.94. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. PACCAR has a 12-month low of $80.64 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR – Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $2.20 by $0.07. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The business had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the firm posted $2.25 earnings per share. PACCAR’s quarterly revenue was up 2.3% on a year-over-year basis. Research analysts predict that PACCAR will post 8.35 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were issued a $0.30 dividend. This is an increase from PACCAR’s previous quarterly dividend of $0.27. The ex-dividend date was Tuesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Buying and Selling at PACCAR

In related news, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares in the company, valued at $154,301.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO R Preston Feight sold 33,850 shares of PACCAR stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total value of $3,594,193.00. Following the transaction, the chief executive officer now directly owns 154,430 shares in the company, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders sold a total of 45,040 shares of company stock worth $4,779,241 in the last three months. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PSI Advisors LLC purchased a new stake in PACCAR in the 1st quarter worth $25,000. YHB Investment Advisors Inc. bought a new stake in PACCAR during the 1st quarter valued at approximately $27,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the 1st quarter worth approximately $27,000. Riverview Trust Co bought a new position in PACCAR in the 1st quarter worth approximately $29,000. Finally, Rise Advisors LLC bought a new position in PACCAR in the 1st quarter worth approximately $31,000. Institutional investors own 64.90% of the company’s stock.

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.

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