PACCAR Inc (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Analysts

PACCAR Inc (NASDAQ:PCAR) has earned a consensus rating of “Hold” from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $68.87.

Several equities analysts have recently commented on PCAR shares. BMO Capital Markets boosted their target price on shares of PACCAR to $70.00 and gave the stock a “market perform” rating in a report on Friday, May 17th. Evercore ISI reaffirmed an “in-line” rating and set a $76.00 price target (up previously from $73.00) on shares of PACCAR in a research note on Friday, May 31st. Credit Suisse Group upped their price target on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Morgan Stanley upped their price target on shares of PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Wednesday, July 24th. Finally, Longbow Research downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price target on the stock. in a research note on Monday, May 6th.

In related news, VP David J. Danforth sold 848 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $71.66, for a total transaction of $60,767.68. Following the sale, the vice president now owns 4,958 shares of the company’s stock, valued at $355,290.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Darrin C. Siver sold 5,067 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the transaction, the insider now owns 23,193 shares in the company, valued at approximately $1,625,829.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,834 shares of company stock worth $1,309,805. 2.32% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of PCAR. Destination Wealth Management bought a new position in PACCAR during the second quarter valued at $25,000. Virtus ETF Advisers LLC bought a new position in PACCAR during the second quarter valued at $26,000. Cable Hill Partners LLC bought a new position in PACCAR during the first quarter valued at $29,000. Advisory Services Network LLC increased its position in PACCAR by 149.4% during the second quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock valued at $31,000 after acquiring an additional 260 shares during the last quarter. Finally, Enterprise Financial Services Corp increased its position in PACCAR by 76.8% during the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 63.60% of the company’s stock.

Shares of PCAR stock traded up $1.56 during mid-day trading on Tuesday, hitting $66.34. The company had a trading volume of 1,620,385 shares, compared to its average volume of 1,835,916. PACCAR has a 52-week low of $53.43 and a 52-week high of $73.00. The company has a 50 day simple moving average of $69.66. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.43 and a quick ratio of 2.26. The stock has a market capitalization of $22.44 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.15 and a beta of 1.25.

PACCAR (NASDAQ:PCAR) last released its earnings results on Tuesday, July 23rd. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.82 by ($0.04). PACCAR had a return on equity of 25.99% and a net margin of 9.43%. The company had revenue of $6.27 billion during the quarter, compared to analysts’ expectations of $6.21 billion. During the same period last year, the firm posted $1.59 EPS. PACCAR’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts expect that PACCAR will post 6.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, August 13th. PACCAR’s payout ratio is 20.51%.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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