PACCAR (NASDAQ:PCAR) Reaches New 12-Month High – What’s Next?

PACCAR Inc. (NASDAQ:PCAR)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $119.22 and last traded at $118.7740, with a volume of 209776 shares changing hands. The stock had previously closed at $118.46.

Analyst Ratings Changes

Several research firms have weighed in on PCAR. Citigroup reaffirmed a “neutral” rating on shares of PACCAR in a research note on Tuesday. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. UBS Group set a $103.00 price objective on PACCAR and gave the stock a “neutral” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised shares of PACCAR from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $108.00 to $133.00 in a research report on Friday, December 19th. Finally, Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, PACCAR presently has an average rating of “Moderate Buy” and a consensus price target of $111.04.

PACCAR Trading Down 0.5%

The business has a 50-day moving average price of $107.20 and a two-hundred day moving average price of $101.38. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. The company has a market cap of $61.93 billion, a P/E ratio of 23.11, a P/E/G ratio of 14.78 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion for the quarter, compared to analyst estimates of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.85 earnings per share. On average, analysts predict that PACCAR Inc. will post 7.57 EPS for the current year.

PACCAR Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 11th will be paid 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 yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

Insider Activity at PACCAR

In other news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares of the company’s stock, valued at $47,338.20. This represents a 87.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently added to or reduced their stakes in PCAR. Private Wealth Management Group LLC increased its stake in shares of PACCAR by 293.1% in the 3rd quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 211 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its stake in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Wealth Watch Advisors INC acquired a new position in PACCAR during the third quarter valued at approximately $32,000. True Wealth Design LLC increased its stake in PACCAR by 61.1% in the fourth quarter. True Wealth Design LLC now owns 364 shares of the company’s stock valued at $40,000 after purchasing an additional 138 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in PACCAR in the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

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.