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

Shares of PACCAR Inc. (NASDAQ:PCAR) have received an average rating of “Hold” from the sixteen brokerages that are currently covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $122.4545.

PCAR has been the subject of several recent analyst reports. Citigroup reaffirmed a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a research note on Thursday, April 30th. Weiss Ratings lowered PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. BNP Paribas Exane initiated coverage on PACCAR in a research note on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price for the company. Finally, Truist Financial lifted their price target on PACCAR from $126.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, July 2nd.

PACCAR Price Performance

PCAR stock traded up $1.29 during trading on Friday, hitting $124.57. The stock had a trading volume of 1,922,223 shares, compared to its average volume of 3,170,681. The stock has a market cap of $65.56 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company’s 50 day moving average price is $116.38 and its two-hundred day moving average price is $119.15. PACCAR has a 1-year low of $92.25 and a 1-year high of $131.88.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $6.78 billion during 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 period in the previous year, the firm posted $1.46 earnings per share. On average, sell-side analysts forecast that PACCAR will post 5.58 EPS for the current fiscal year.

PACCAR Increases Dividend

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

Hedge Funds Weigh In On PACCAR

A number of large investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its holdings in shares of PACCAR by 0.3% during the 4th quarter. Brighton Jones LLC now owns 89,001 shares of the company’s stock worth $9,258,000 after buying an additional 290 shares during the last quarter. Focus Partners Wealth grew its position in PACCAR by 15.4% during the first quarter. Focus Partners Wealth now owns 13,604 shares of the company’s stock valued at $1,324,000 after acquiring an additional 1,812 shares during the period. Treasurer of the State of North Carolina grew its position in PACCAR by 2.3% during the second quarter. Treasurer of the State of North Carolina now owns 240,749 shares of the company’s stock valued at $22,886,000 after acquiring an additional 5,327 shares during the period. Ieq Capital LLC increased its stake in PACCAR by 11.5% during the second quarter. Ieq Capital LLC now owns 37,404 shares of the company’s stock worth $3,556,000 after acquiring an additional 3,858 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in PACCAR during the second quarter worth about $81,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.