PACCAR Inc (NASDAQ:PCAR – Get Rating) has received an average recommendation of "Moderate Buy" from the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $95.21.
A number of equities research analysts recently issued reports on the stock. Cowen dropped their target price on shares of PACCAR from $100.00 to $92.00 in a research report on Thursday, July 7th. Morgan Stanley lifted their target price on shares of PACCAR from $75.00 to $81.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 27th. Credit Suisse Group increased their price target on PACCAR from $102.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 27th. Vertical Research downgraded PACCAR from a "buy" rating to a "hold" rating and lifted their price objective for the company from $100.00 to $102.00 in a research report on Wednesday, August 17th. Finally, JPMorgan Chase & Co. reduced their price objective on PACCAR from $106.00 to $94.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 12th.
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Insiders Place Their Bets
In other news, VP Todd R. Hubbard sold 2,000 shares of the company's stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $91.50, for a total value of $183,000.00. Following the completion of the sale, the vice president now directly owns 2,119 shares of the company's stock, valued at approximately $193,888.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.05% of the company's stock.
Hedge Funds Weigh In On PACCAR
Several institutional investors and hedge funds have recently made changes to their positions in PCAR. Disciplined Investments LLC lifted its holdings in PACCAR by 280.0% during the first quarter. Disciplined Investments LLC now owns 323 shares of the company's stock worth $28,000 after acquiring an additional 238 shares in the last quarter. Riverview Trust Co acquired a new stake in PACCAR during the 1st quarter worth approximately $30,000. Trust Co. of Vermont bought a new position in PACCAR in the second quarter valued at approximately $28,000. Achmea Investment Management B.V. acquired a new position in shares of PACCAR in the first quarter valued at approximately $33,000. Finally, Prospera Financial Services Inc bought a new stake in shares of PACCAR during the first quarter worth $39,000. Institutional investors and hedge funds own 64.17% of the company's stock.
PACCAR Trading Up 2.9 %
PCAR stock opened at $85.33 on Thursday. PACCAR has a 1-year low of $77.00 and a 1-year high of $97.56. The company has a current ratio of 2.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. The business's 50 day moving average is $88.85 and its 200-day moving average is $86.14. The firm has a market cap of $29.67 billion, a P/E ratio of 13.46, a P/E/G ratio of 1.07 and a beta of 0.89.
PACCAR (NASDAQ:PCAR – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $2.07 earnings per share for the quarter, beating analysts' consensus estimates of $1.81 by $0.26. PACCAR had a return on equity of 18.64% and a net margin of 8.68%. The firm had revenue of $6.79 billion for the quarter, compared to analysts' expectations of $6.57 billion. During the same period in the prior year, the business posted $1.41 earnings per share. The business's revenue was up 26.0% compared to the same quarter last year. Equities analysts anticipate that PACCAR will post 7.73 earnings per share for the current fiscal year.
PACCAR Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, November 15th will be paid a $0.37 dividend. This is a positive change from PACCAR's previous quarterly dividend of $0.34. The ex-dividend date is Monday, November 14th. This represents a $1.48 annualized dividend and a yield of 1.73%. PACCAR's dividend payout ratio is presently 21.45%.
About PACCAR
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PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, 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.
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