PACCAR Inc. (NASDAQ:PCAR) Receives $117.42 Average Target Price from Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given an average recommendation of “Hold” by the seventeen brokerages that are covering the firm, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $117.4167.

A number of brokerages have commented on PCAR. Wells Fargo & Company set a $119.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Truist Financial lifted their price objective on shares of PACCAR from $108.00 to $120.00 and gave the stock a “hold” rating in a research note on Wednesday, January 28th. Sanford C. Bernstein reissued an “outperform” rating on shares of PACCAR in a research note on Tuesday, February 24th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Wall Street Zen raised shares of PACCAR from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st.

PACCAR Stock Performance

PCAR opened at $126.97 on Tuesday. PACCAR has a fifty-two week low of $84.65 and a fifty-two week high of $131.88. The stock has a market capitalization of $66.82 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 1.05 and a beta of 1.06. The company has a fifty day moving average of $121.31 and a 200 day moving average of $113.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.79 and a current ratio of 2.98.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, hitting analysts’ consensus estimates of $1.06. PACCAR had a net margin of 8.35% and a return on equity of 13.97%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.06 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was down 15.1% on a year-over-year basis. As a group, sell-side analysts forecast that PACCAR will post 5.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 2,200 shares of PACCAR stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $130.41, for a total value of $286,902.00. Following the completion of the transaction, the chief financial officer directly owned 903 shares of the company’s stock, valued at $117,760.23. This trade represents a 70.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP C Michael Dozier sold 79,076 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total transaction of $10,115,401.92. Following the completion of the sale, the executive vice president owned 34,656 shares of the company’s stock, valued at $4,433,195.52. This trade represents a 69.53% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 133,105 shares of company stock worth $16,869,046. Insiders own 1.99% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Several institutional investors have recently made changes to their positions in PCAR. Norges Bank bought a new stake in shares of PACCAR in the 4th quarter worth about $727,745,000. Wellington Management Group LLP lifted its holdings in shares of PACCAR by 18.6% in the 4th quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock worth $2,516,272,000 after acquiring an additional 3,597,283 shares during the last quarter. UBS Group AG lifted its holdings in shares of PACCAR by 74.4% in the 4th quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock worth $498,146,000 after acquiring an additional 1,940,260 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of PACCAR by 2,389.2% in the 3rd quarter. Pacer Advisors Inc. now owns 2,010,837 shares of the company’s stock worth $197,705,000 after acquiring an additional 1,930,056 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of PACCAR by 235.9% in the 3rd quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock worth $249,801,000 after acquiring an additional 1,784,236 shares during the last quarter. Institutional investors 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.