PACCAR Inc (NASDAQ:PCAR) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of PACCAR Inc (NASDAQ:PCAR) have earned an average recommendation of “Hold” from the twelve brokerages that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $112.73.

Several research firms have commented on PCAR. Citigroup dropped their price objective on shares of PACCAR from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. StockNews.com raised shares of PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PACCAR from $121.00 to $109.00 and set a “buy” rating on the stock in a research report on Wednesday, July 24th. Raymond James initiated coverage on PACCAR in a research report on Friday, June 28th. They set a “market perform” rating for the company. Finally, Evercore ISI reduced their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating on the stock in a report on Monday, August 19th.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 27,834 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 162,782 shares in the company, valued at $16,066,583.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently modified their holdings of PCAR. Quarry LP purchased a new stake in PACCAR during the second quarter worth $26,000. YHB Investment Advisors Inc. bought a new stake in PACCAR during the first quarter valued at about $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 bought a new position in PACCAR in the first quarter worth about $29,000. Finally, Meeder Asset Management Inc. lifted its position in shares of PACCAR by 269.7% during the second quarter. Meeder Asset Management Inc. now owns 281 shares of the company’s stock valued at $29,000 after buying an additional 205 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Up 0.3 %

Shares of NASDAQ PCAR opened at $98.13 on Monday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50. The firm’s 50-day moving average price is $95.99 and its 200-day moving average price is $105.51. The stock has a market capitalization of $51.43 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 1.53 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 (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. PACCAR’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.33 earnings per share. On average, equities research analysts anticipate that PACCAR will post 8.08 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Wednesday, November 13th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

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.