PACCAR Inc. (NASDAQ:PCAR) Stock Rated “Hold” by Wall Street Analysts

PACCAR Inc. (NASDAQ:PCAR) has received an average rating of “Hold” from the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $133.91.

PCAR has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on shares of PACCAR from $155.00 to $164.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Truist Financial boosted their price objective on shares of PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Wells Fargo & Company increased their target price on PACCAR from $125.00 to $157.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $148.00 price target on shares of PACCAR in a report on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th.

Insider Activity at PACCAR

In related news, VP William Lance Walters sold 1,000 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.50, for a total value of $133,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $133.90, for a total value of $387,908.30. Following the sale, the vice president owned 3,831 shares of the company’s stock, valued at approximately $512,970.90. This trade represents a 43.06% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 56,842 shares of company stock worth $7,565,677. Company insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently made changes to their positions in PCAR. Paladin Partners LLC purchased a new position in shares of PACCAR in the second quarter worth approximately $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% during the fourth quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after buying an additional 92 shares during the last quarter. Fiduciary Financial Advisors bought a new position in PACCAR in the second quarter worth approximately $28,000. Compass Financial Management LLC bought a new position in PACCAR in the second quarter worth approximately $28,000. Finally, Steph & Co. purchased a new position in shares of PACCAR during the 1st quarter worth $29,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 1.3%

NASDAQ PCAR opened at $110.67 on Friday. PACCAR has a 12 month low of $92.25 and a 12 month high of $139.24. The company has a current ratio of 3.12, a quick ratio of 2.90 and a debt-to-equity ratio of 0.49. The stock’s fifty day moving average price is $126.66 and its 200-day moving average price is $121.18. The stock has a market cap of $58.25 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.30 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.07. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.05 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. PACCAR’s quarterly revenue was up .5% compared to the same quarter last year. As a group, equities analysts forecast that PACCAR will post 5.91 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Wednesday, November 11th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. PACCAR’s dividend payout ratio is 29.41%.

PACCAR Company Profile

PACCAR Inc is a global manufacturer of heavy-duty, medium-duty and light-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company serves the over-the-road, vocational and construction markets, offering vehicles designed for freight transportation and other commercial applications.

In addition to truck manufacturing, PACCAR operates PACCAR Parts, which distributes replacement parts and related services through a global network. The company also provides truck financing and leasing through PACCAR Financial, supporting customers and dealers in several major markets.

PACCAR traces its history to 1905 and has grown from a regional equipment manufacturer into an international transportation company.