PACCAR Inc (NASDAQ:PCAR) Receives Average Rating of “Hold” from Analysts

Shares of PACCAR Inc (NASDAQ:PCAR) have been given an average recommendation of “Hold” by the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $112.73.

A number of brokerages have commented on PCAR. Truist Financial lowered their target price on PACCAR from $115.00 to $107.00 and set a “hold” rating on the stock in a report on Wednesday, July 24th. Citigroup dropped their price objective on PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Raymond James began coverage on shares of PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating for the company in a research report on Wednesday, July 24th.

PACCAR Price Performance

PACCAR stock opened at $98.91 on Monday. The firm has a market capitalization of $51.85 billion, a PE ratio of 10.26, a P/E/G ratio of 1.48 and a beta of 0.91. PACCAR has a 52 week low of $80.94 and a 52 week high of $125.50. The firm’s 50-day simple moving average is $96.95 and its 200 day simple moving average is $106.08. 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 (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.30 billion. During the same period last year, the company earned $2.33 EPS. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts predict that PACCAR will post 8.08 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total transaction of $2,747,215.80. Following the completion of the sale, the chief executive officer now owns 162,782 shares of the company’s stock, valued at $16,066,583.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.02% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. YHB Investment Advisors Inc. purchased a new position in shares of PACCAR in the 1st quarter valued at $27,000. New Covenant Trust Company N.A. purchased a new position in PACCAR in the first quarter valued at about $27,000. Riverview Trust Co acquired a new position in shares of PACCAR during the first quarter worth about $29,000. Rise Advisors LLC purchased a new stake in shares of PACCAR in the first quarter worth about $31,000. Finally, Quarry LP acquired a new stake in shares of PACCAR in the second quarter valued at about $26,000. 64.90% of the stock is owned by institutional investors and hedge funds.

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.