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

PACCAR Inc (NASDAQ:PCAR) has been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $110.82.

PCAR has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on PACCAR from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Evercore ISI increased their price objective on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. Royal Bank of Canada began coverage on PACCAR in a research report on Tuesday, March 26th. They issued a “sector perform” rating and a $123.00 target price for the company. Finally, The Goldman Sachs Group raised their target price on PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th.

Insider Activity

In other news, Chairman Mark C. Pigott sold 74,347 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $101.93, for a total value of $7,578,189.71. Following the sale, the chairman now owns 4,843,277 shares in the company, valued at approximately $493,675,224.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Chairman Mark C. Pigott sold 74,347 shares of PACCAR stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $101.93, for a total value of $7,578,189.71. Following the completion of the transaction, the chairman now directly owns 4,843,277 shares of the company’s stock, valued at $493,675,224.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $102.12, for a total value of $493,137.48. Following the completion of the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 141,293 shares of company stock worth $14,581,337. Corporate insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. DAVENPORT & Co LLC acquired a new position in shares of PACCAR during the 3rd quarter worth about $245,000. Meridian Wealth Management LLC grew its position in shares of PACCAR by 101.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 6,668 shares of the company’s stock valued at $567,000 after purchasing an additional 3,361 shares during the period. Czech National Bank grew its position in shares of PACCAR by 47.7% in the 3rd quarter. Czech National Bank now owns 91,398 shares of the company’s stock valued at $7,771,000 after purchasing an additional 29,536 shares during the period. Ballentine Partners LLC grew its position in shares of PACCAR by 15.1% in the 3rd quarter. Ballentine Partners LLC now owns 4,940 shares of the company’s stock valued at $420,000 after purchasing an additional 648 shares during the period. Finally, Uncommon Cents Investing LLC grew its position in shares of PACCAR by 31.3% in the 3rd quarter. Uncommon Cents Investing LLC now owns 7,521 shares of the company’s stock valued at $639,000 after purchasing an additional 1,795 shares during the period. 64.90% of the stock is owned by institutional investors.

PACCAR Trading Down 1.0 %

Shares of PCAR stock opened at $112.62 on Friday. PACCAR has a 12 month low of $68.40 and a 12 month high of $125.50. The company has a quick ratio of 2.21, a current ratio of 2.40 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $116.49 and its two-hundred day moving average is $101.60. The company has a market cap of $59.01 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.70 and a beta of 0.92.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating the consensus estimate of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion for the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the company posted $1.76 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Equities analysts predict that PACCAR will post 8.21 EPS for the current year.

PACCAR Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.08 annualized dividend and a dividend yield of 0.96%. PACCAR’s dividend payout ratio is presently 12.31%.

PACCAR Company Profile

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.