PACCAR Inc. (NASDAQ:PCAR) Receives Consensus Rating of “Hold” from Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have received a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $116.1818.

PCAR has been the subject of a number of research reports. Wells Fargo & Company set a $119.00 price target on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Truist Financial increased their target price on PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research report on Wednesday, January 28th. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Morgan Stanley set a $109.00 price target on PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd.

PACCAR Stock Performance

NASDAQ:PCAR opened at $115.33 on Friday. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $122.20 and its 200 day simple moving average is $110.13. The stock has a market cap of $60.69 billion, a P/E ratio of 25.57, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. PACCAR has a twelve month low of $84.65 and a twelve month high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting the consensus estimate of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same period in the prior year, the business earned $1.66 EPS. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, research analysts predict that PACCAR will post 7.57 EPS for the current year.

Insider Activity

In other news, EVP C Michael Dozier sold 79,076 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This represents a 69.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 2,200 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $130.41, for a total transaction of $286,902.00. Following the completion of the transaction, the chief financial officer owned 903 shares of the company’s stock, valued at approximately $117,760.23. The trade was a 70.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 133,105 shares of company stock worth $16,869,046. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

Several large investors have recently made changes to their positions in PCAR. Rockefeller Capital Management L.P. grew its stake in shares of PACCAR by 5.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 95,619 shares of the company’s stock worth $10,471,000 after buying an additional 4,845 shares during the last quarter. World Investment Advisors raised its stake in PACCAR by 19.7% during the fourth quarter. World Investment Advisors now owns 6,402 shares of the company’s stock valued at $701,000 after buying an additional 1,052 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in PACCAR by 5.5% in the fourth quarter. Corient Private Wealth LLC now owns 1,395,376 shares of the company’s stock worth $152,808,000 after acquiring an additional 72,594 shares in the last quarter. Mengis Capital Management Inc. grew its stake in shares of PACCAR by 16.1% in the fourth quarter. Mengis Capital Management Inc. now owns 111,486 shares of the company’s stock worth $12,209,000 after acquiring an additional 15,440 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of PACCAR by 1,112.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,085 shares of the company’s stock valued at $228,000 after acquiring an additional 1,913 shares in the last quarter. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

About PACCAR

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.