Analysts Set PACCAR Inc (NASDAQ:PCAR) PT at $112.73

PACCAR Inc (NASDAQ:PCAR) has received an average rating of “Hold” from the twelve ratings firms that are presently covering the company, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $112.73.

A number of equities research analysts have weighed in on PCAR shares. Evercore ISI decreased their target price on shares of PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research note on Monday, August 19th. Citigroup lowered their target price on PACCAR from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. StockNews.com upgraded PACCAR from a “hold” rating to a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. lowered their price objective on shares of PACCAR from $135.00 to $115.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 24th. Finally, Truist Financial cut their target price on shares of PACCAR from $115.00 to $107.00 and set a “hold” rating for the company in a research report on Wednesday, July 24th.

Insider Transactions at PACCAR

In related news, CEO R Preston Feight sold 27,834 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now directly owns 162,782 shares of the company’s stock, valued at approximately $16,066,583.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several hedge funds have recently modified their holdings of the stock. YHB Investment Advisors Inc. bought a new stake in PACCAR in the 1st quarter valued at $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the first quarter worth about $27,000. Riverview Trust Co purchased a new stake in shares of PACCAR in the first quarter worth about $29,000. Rise Advisors LLC bought a new position in PACCAR during the first quarter valued at approximately $31,000. Finally, Quarry LP purchased a new position in PACCAR during the 2nd quarter valued at approximately $26,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Price Performance

NASDAQ PCAR opened at $98.13 on Monday. PACCAR has a one year low of $80.94 and a one year high of $125.50. The stock has a 50-day moving average of $95.99 and a 200 day moving average of $105.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.54 and a current ratio of 2.78. The company has a market capitalization of $51.43 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 1.53 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The company had revenue of $8.26 billion during the quarter, compared to the consensus estimate of $8.30 billion. PACCAR had a return on equity of 29.87% and a net margin of 14.07%. The business’s revenue was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.33 earnings per share. On average, sell-side analysts forecast that PACCAR will post 8.08 EPS for the current year.

PACCAR Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 4th. Stockholders of record on Wednesday, November 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. PACCAR’s payout ratio is 12.45%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, 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.