PACCAR (NASDAQ:PCAR) Price Target Lowered to $115.00 at Evercore ISI

PACCAR (NASDAQ:PCAR) had its target price reduced by Evercore ISI from $127.00 to $115.00 in a research report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

PCAR has been the subject of several other research reports. Truist Financial decreased their price target on shares of PACCAR from $113.00 to $104.00 and set a “hold” rating for the company in a research note on Tuesday, April 8th. StockNews.com raised PACCAR from a “sell” rating to a “hold” rating in a report on Friday, May 9th. Royal Bank of Canada lowered their target price on PACCAR from $106.00 to $97.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 8th. UBS Group cut PACCAR from a “neutral” rating to a “sell” rating and dropped their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Finally, Citigroup decreased their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $104.14.

PACCAR Stock Up 0.3%

PACCAR stock opened at $97.01 on Monday. PACCAR has a fifty-two week low of $84.65 and a fifty-two week high of $118.81. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. The firm’s 50-day simple moving average is $93.23 and its 200 day simple moving average is $103.81. The stock has a market cap of $50.93 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The business had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.13 billion. During the same quarter last year, the business posted $2.27 earnings per share. The business’s revenue was down 16.0% compared to the same quarter last year. Research analysts predict that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.36%. PACCAR’s dividend payout ratio is presently 20.00%.

Insider Transactions at PACCAR

In other news, VP Michael K. Walton sold 6,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $106.13, for a total transaction of $636,780.00. Following the transaction, the vice president now directly owns 951 shares of the company’s stock, valued at $100,929.63. This represents a 86.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the transaction, the director now directly owns 13,015 shares of the company’s stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. boosted its holdings in PACCAR by 666.7% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company’s stock worth $27,000 after purchasing an additional 240 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company’s stock valued at $29,000 after buying an additional 193 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of PACCAR in the 1st quarter worth $29,000. Golden State Wealth Management LLC bought a new stake in shares of PACCAR in the fourth quarter worth $37,000. Finally, Kestra Investment Management LLC bought a new stake in shares of PACCAR in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.