PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given an average recommendation of “Hold” by the sixteen research firms that are currently covering the firm, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $122.4545.

Several equities analysts have issued reports on PCAR shares. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. lowered their price objective on PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Truist Financial boosted their target price on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, July 2nd. Citigroup reaffirmed a “neutral” rating and set a $125.00 target price (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research note on Wednesday, April 29th.

PACCAR Stock Performance

PCAR stock opened at $123.28 on Friday. The firm has a market cap of $64.88 billion, a price-to-earnings ratio of 26.23, a PEG ratio of 1.14 and a beta of 0.97. The firm has a 50-day simple moving average of $116.25 and a two-hundred day simple moving average of $119.11. PACCAR has a one year low of $92.25 and a one year high of $131.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The firm had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. On average, equities analysts forecast that PACCAR will post 5.58 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date was Wednesday, May 13th. PACCAR’s dividend payout ratio is currently 29.79%.

Institutional Trading of PACCAR

Institutional investors have recently bought and sold shares of the stock. Ares Financial Consulting LLC acquired a new stake in shares of PACCAR during the fourth quarter worth $27,000. MCF Advisors LLC increased its position in shares of PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock valued at $28,000 after acquiring an additional 92 shares during the period. Steph & Co. purchased a new position in PACCAR in the 1st quarter worth $29,000. Elyxium Wealth LLC purchased a new position in PACCAR in the 4th quarter worth $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in PACCAR during the 3rd quarter worth about $32,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.