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

Shares of PACCAR Inc (NASDAQ:PCAR) have been given an average rating of “Hold” by the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $118.50.

Several research firms recently weighed in on PCAR. Evercore ISI raised shares of PACCAR from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $99.00 to $129.00 in a report on Wednesday, November 13th. Jefferies Financial Group lowered shares of PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price objective on shares of PACCAR in a report on Monday, November 4th. Truist Financial boosted their target price on PACCAR from $107.00 to $110.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research note on Wednesday, October 16th.

Insider Buying and Selling at PACCAR

In related news, VP Todd R. Hubbard sold 3,230 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $107.27, for a total value of $346,482.10. Following the completion of the sale, the vice president now directly owns 3,061 shares of the company’s stock, valued at approximately $328,353.47. This represents a 51.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,315 shares of company stock valued at $6,358,552. 2.02% of the stock is currently owned by corporate insiders.

Institutional Trading of PACCAR

A number of hedge funds have recently made changes to their positions in the stock. Quarry LP acquired a new position in PACCAR in the 2nd quarter valued at approximately $26,000. Meeder Asset Management Inc. grew its holdings in shares of PACCAR by 269.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after acquiring an additional 205 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of PACCAR in the second quarter worth $36,000. Grove Bank & Trust raised its holdings in shares of PACCAR by 28.4% during the third quarter. Grove Bank & Trust now owns 466 shares of the company’s stock worth $46,000 after acquiring an additional 103 shares in the last quarter. Finally, Sander Capital Advisors Inc. acquired a new stake in PACCAR during the third quarter valued at $50,000. 64.90% of the stock is owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PCAR opened at $104.90 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.03 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $110.98 and its 200-day moving average is $103.74. The stock has a market cap of $55.00 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. PACCAR has a twelve month low of $90.04 and a twelve month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.03. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The firm had revenue of $8.24 billion for the quarter, compared to the consensus estimate of $7.66 billion. During the same quarter in the previous year, the business earned $2.34 EPS. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts predict that PACCAR will post 7.98 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be paid a $3.00 dividend. The ex-dividend date of this dividend is Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s dividend payout ratio (DPR) is currently 14.75%.

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.