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

PACCAR Inc. (NASDAQ:PCAR) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are currently covering the firm, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $111.0385.

PCAR has been the topic of a number of research reports. Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research report on Wednesday, October 22nd. Wall Street Zen cut PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, October 25th. Citigroup reissued a “neutral” rating and issued a $115.00 price target (up from $105.00) on shares of PACCAR in a research report on Thursday, December 11th. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Finally, Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th.

Insiders Place Their Bets

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer directly owned 468 shares of the company’s stock, valued at $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 2.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently modified their holdings of PCAR. FORA Capital LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $597,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in PACCAR by 77.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after buying an additional 103,664 shares in the last quarter. JT Stratford LLC acquired a new position in shares of PACCAR during the 2nd quarter valued at about $1,301,000. Assenagon Asset Management S.A. raised its stake in PACCAR by 46.0% during the second quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock worth $26,702,000 after purchasing an additional 88,551 shares during the period. Finally, Jump Financial LLC boosted its holdings in PACCAR by 757.1% in the 1st quarter. Jump Financial LLC now owns 55,263 shares of the company’s stock valued at $5,381,000 after purchasing an additional 48,815 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Stock Performance

NASDAQ:PCAR opened at $111.95 on Wednesday. The stock has a market capitalization of $58.80 billion, a P/E ratio of 21.88, a P/E/G ratio of 15.43 and a beta of 1.01. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. PACCAR has a 12-month low of $84.65 and a 12-month high of $115.43. The stock has a 50-day moving average price of $102.92 and a 200 day moving average price of $99.35.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same period last year, the business posted $1.85 earnings per share. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. Equities research analysts forecast that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

PACCAR Company Profile

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.