PACCAR (NASDAQ:PCAR) Raised to “Hold” at BNP Paribas

BNP Paribas upgraded shares of PACCAR (NASDAQ:PCAR) to a hold rating in a report released on Wednesday morning, Zacks.com reports.

A number of other equities research analysts have also weighed in on PCAR. Evercore ISI dropped their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a research note on Monday, August 19th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Raymond James started coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating for the company. Citigroup upped their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on PACCAR from $121.00 to $109.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PACCAR presently has an average rating of “Hold” and a consensus price target of $114.00.

PACCAR Price Performance

Shares of PCAR opened at $110.09 on Wednesday. The company has a 50 day moving average of $98.19 and a two-hundred day moving average of $103.73. The company has a quick ratio of 2.54, a current ratio of 2.78 and a debt-to-equity ratio of 0.52. PACCAR has a twelve month low of $80.94 and a twelve month high of $125.50. The company has a market cap of $57.71 billion, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. During the same period in the previous year, the business earned $2.33 EPS. The firm’s revenue for the quarter was down 2.1% compared to the same quarter last year. As a group, analysts predict that PACCAR will post 8.06 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.71%.

Insider Buying and Selling at PACCAR

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 transaction of $2,747,215.80. Following the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR during the 1st quarter valued at about $27,000. Riverview Trust Co acquired a new stake in PACCAR in the first quarter valued at approximately $29,000. Quarry LP purchased a new stake in shares of PACCAR in the second quarter valued at approximately $26,000. Meeder Asset Management Inc. raised its stake in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock worth $29,000 after buying an additional 205 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of PACCAR during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

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.