PACCAR Inc (NASDAQ:PCAR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of PACCAR Inc (NASDAQ:PCARGet Free Report) have received an average recommendation of “Moderate Buy” from the fifteen research firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $109.39.

A number of equities analysts recently commented on PCAR shares. Bank of America upgraded PACCAR from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $84.00 to $97.00 in a research note on Friday, January 19th. JPMorgan Chase & Co. upped their target price on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Royal Bank of Canada started coverage on PACCAR in a report on Tuesday, March 26th. They set a “sector perform” rating and a $123.00 target price for the company. The Goldman Sachs Group upped their target price on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, TD Cowen upped their target price on PACCAR from $91.00 to $108.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th.

Check Out Our Latest Stock Analysis on PACCAR

Insiders Place Their Bets

In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $607,814.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PACCAR news, VP Todd R. Hubbard sold 2,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark C. Pigott sold 74,347 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total transaction of $7,578,189.71. Following the sale, the chairman now owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The disclosure for this sale can be found here. Insiders have sold 153,496 shares of company stock valued at $15,834,812 over the last three months. 2.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PACCAR

Hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in PACCAR during the third quarter valued at about $26,000. AdvisorNet Financial Inc raised its position in PACCAR by 188.5% in the fourth quarter. AdvisorNet Financial Inc now owns 277 shares of the company’s stock worth $27,000 after purchasing an additional 181 shares in the last quarter. ST Germain D J Co. Inc. raised its position in PACCAR by 61.9% in the third quarter. ST Germain D J Co. Inc. now owns 340 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Arlington Trust Co LLC acquired a new position in PACCAR in the third quarter worth about $30,000. Finally, Achmea Investment Management B.V. acquired a new position in PACCAR in the first quarter worth about $33,000. 64.90% of the stock is currently owned by institutional investors.

PACCAR Trading Down 0.5 %

NASDAQ:PCAR opened at $123.89 on Monday. The business’s 50-day moving average is $111.07 and its two-hundred day moving average is $97.41. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.40 and a quick ratio of 2.21. PACCAR has a 12 month low of $67.48 and a 12 month high of $125.50. The firm has a market capitalization of $64.92 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.93 and a beta of 0.91.

PACCAR (NASDAQ:PCARGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. The company had revenue of $8.59 billion for the quarter, compared to analyst estimates of $8.48 billion. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.76 earnings per share. Research analysts predict that PACCAR will post 8.15 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Thursday, February 15th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 0.87%. The ex-dividend date was Wednesday, February 14th. PACCAR’s payout ratio is 12.31%.

About PACCAR

(Get Free Report

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.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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