Brokerages Set PACCAR Inc (NASDAQ:PCAR) PT at $74.79

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Shares of PACCAR Inc (NASDAQ:PCAR) have earned an average recommendation of “Hold” from the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $74.79.

Several research firms have recently issued reports on PCAR. ValuEngine raised PACCAR from a “sell” rating to a “hold” rating in a research report on Thursday. Citigroup lifted their price target on PACCAR from $80.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Goldman Sachs Group decreased their target price on PACCAR from $85.00 to $75.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Evercore ISI raised PACCAR from an “in-line” rating to an “outperform” rating and set a $81.00 target price for the company in a research report on Friday, April 3rd. Finally, Vertical Research upgraded PACCAR from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd.

In other PACCAR news, VP Douglas S. Grandstaff sold 1,431 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $70.00, for a total value of $100,170.00. Following the transaction, the vice president now owns 6,921 shares of the company’s stock, valued at approximately $484,470. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Harrie Schippers sold 4,000 shares of the company’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $68.81, for a total value of $275,240.00. Following the completion of the transaction, the chief financial officer now directly owns 41,515 shares in the company, valued at approximately $2,856,647.15. The disclosure for this sale can be found here. Insiders have sold a total of 7,387 shares of company stock worth $505,210 in the last 90 days. 2.18% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Franklin Resources Inc. grew its position in shares of PACCAR by 19.2% during the 1st quarter. Franklin Resources Inc. now owns 85,018 shares of the company’s stock worth $5,197,000 after buying an additional 13,679 shares in the last quarter. Credit Suisse AG boosted its position in PACCAR by 22.9% during the fourth quarter. Credit Suisse AG now owns 576,067 shares of the company’s stock valued at $45,565,000 after purchasing an additional 107,248 shares in the last quarter. Wilsey Asset Management Inc. boosted its position in PACCAR by 12.3% during the first quarter. Wilsey Asset Management Inc. now owns 208,688 shares of the company’s stock valued at $12,371,000 after purchasing an additional 22,868 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in PACCAR by 7.9% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 366,685 shares of the company’s stock valued at $22,415,000 after purchasing an additional 26,861 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in PACCAR by 8.7% during the fourth quarter. Advisors Asset Management Inc. now owns 212,480 shares of the company’s stock valued at $16,807,000 after purchasing an additional 17,061 shares in the last quarter. 61.42% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PCAR opened at $72.44 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.49 and a debt-to-equity ratio of 0.75. The stock has a market cap of $25.04 billion, a P/E ratio of 11.89, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. The firm’s fifty day simple moving average is $72.33 and its 200 day simple moving average is $71.73. PACCAR has a twelve month low of $49.11 and a twelve month high of $83.41.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.18). The firm had revenue of $4.78 billion for the quarter, compared to analysts’ expectations of $4.89 billion. PACCAR had a net margin of 8.73% and a return on equity of 21.76%. The business’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.81 EPS. On average, analysts expect that PACCAR will post 2.88 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 12th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.28 annualized dividend and a yield of 1.77%. PACCAR’s payout ratio is presently 18.63%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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