PACCAR Inc. (NASDAQ:PCAR) Receives $122.00 Consensus PT from Analysts

Shares of PACCAR Inc. (NASDAQ:PCAR) have been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $122.00.

A number of equities analysts have weighed in on PCAR shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of PACCAR in a report on Tuesday, February 24th. Evercore set a $139.00 price target on shares of PACCAR in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Wednesday, April 29th. Truist Financial lifted their price target on shares of PACCAR from $120.00 to $126.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane started coverage on shares of PACCAR in a report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target on the stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of PACCAR by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock valued at $6,951,172,000 after acquiring an additional 363,782 shares during the period. Wellington Management Group LLP raised its stake 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 valued at $2,516,272,000 after acquiring an additional 3,597,283 shares during the period. State Street Corp raised its stake in shares of PACCAR by 0.4% in the 4th quarter. State Street Corp now owns 22,497,197 shares of the company’s stock valued at $2,494,269,000 after acquiring an additional 94,869 shares during the period. Geode Capital Management LLC raised its stake in shares of PACCAR by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 12,308,610 shares of the company’s stock valued at $1,350,867,000 after acquiring an additional 50,622 shares during the period. Finally, Norges Bank purchased a new position in shares of PACCAR in the 4th quarter valued at $727,745,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Stock Up 0.8%

Shares of PCAR opened at $118.52 on Wednesday. The firm has a market cap of $62.38 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 1.09 and a beta of 0.98. The company’s fifty day moving average is $117.65 and its two-hundred day moving average is $117.48. PACCAR has a fifty-two week low of $90.05 and a fifty-two week high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. PACCAR’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. Analysts forecast that PACCAR will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s payout ratio is 29.79%.

About PACCAR

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.