PACCAR (NASDAQ:PCAR) Upgraded at StockNews.com

StockNews.com upgraded shares of PACCAR (NASDAQ:PCARFree Report) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

A number of other brokerages have also commented on PCAR. Raymond James assumed coverage on PACCAR in a report on Friday, June 28th. They issued a market perform rating on the stock. Citigroup assumed coverage on PACCAR in a report on Wednesday, June 26th. They issued a neutral rating and a $115.00 price target on the stock. JPMorgan Chase & Co. cut their price target on PACCAR from $140.00 to $130.00 and set an overweight rating on the stock in a report on Wednesday, May 1st. UBS Group upgraded PACCAR from a neutral rating to a buy rating and boosted their price target for the company from $104.00 to $136.00 in a report on Friday, March 15th. Finally, Royal Bank of Canada assumed coverage on PACCAR in a report on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus target price of $113.92.

Check Out Our Latest Stock Report on PACCAR

PACCAR Stock Performance

PCAR stock opened at $101.50 on Monday. The business’s 50-day moving average price is $106.02 and its two-hundred day moving average price is $107.96. The company has a current ratio of 2.73, a quick ratio of 2.49 and a debt-to-equity ratio of 0.54. The firm has a market cap of $53.20 billion, a PE ratio of 10.53, a P/E/G ratio of 1.21 and a beta of 0.92. PACCAR has a 1-year low of $80.94 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analyst estimates of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. As a group, research analysts forecast that PACCAR will post 8.37 earnings per share for the current year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, August 15th. PACCAR’s dividend payout ratio (DPR) is presently 12.45%.

Insiders Place Their Bets

In other PACCAR news, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $105.11, for a total transaction of $958,918.53. Following the transaction, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Walton sold 9,123 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the sale, the vice president now owns 1,468 shares of the company’s stock, valued at $154,301.48. The disclosure for this sale can be found here. Insiders have sold a total of 45,040 shares of company stock valued at $4,779,241 over the last 90 days. 2.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently made changes to their positions in the stock. PSI Advisors LLC bought a new stake in shares of PACCAR in the first quarter valued at approximately $25,000. YHB Investment Advisors Inc. bought a new stake in shares of PACCAR in the first quarter valued at approximately $27,000. New Covenant Trust Company N.A. bought a new stake in shares of PACCAR in the first quarter valued at approximately $27,000. Riverview Trust Co bought a new stake in shares of PACCAR in the first quarter valued at approximately $29,000. Finally, Rise Advisors LLC bought a new stake in shares of PACCAR in the first quarter valued at approximately $31,000. 64.90% of the stock is currently owned by institutional investors.

About PACCAR

(Get Free Report)

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.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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