PACCAR Inc. (NASDAQ:PCAR) Stock Rated “Hold” by Wall Street Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $131.50.

A number of research analysts have issued reports on the company. Sanford C. Bernstein reissued an “outperform” rating and set a $148.00 price objective (up from $142.00) on shares of PACCAR in a report on Wednesday, July 29th. Citigroup lowered their target price on shares of PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. BNP Paribas Exane dropped their target price on shares of PACCAR from $136.00 to $107.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of PACCAR in a report on Tuesday, August 18th. Finally, Jefferies Financial Group lifted their price target on shares of PACCAR from $120.00 to $140.00 and gave the company a “hold” rating in a report on Wednesday, July 29th.

Insiders Place Their Bets

In other PACCAR news, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.07, for a total value of $6,783,243.25. Following the completion of the transaction, the chief executive officer owned 268,625 shares in the company, valued at approximately $35,745,928.75. The trade was a 15.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Paulo Henrique Bolgar sold 2,897 shares of the business’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $133.90, for a total value of $387,908.30. Following the completion of the transaction, the vice president directly owned 3,831 shares in the company, valued at approximately $512,970.90. This represents a 43.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 56,842 shares of company stock valued at $7,565,677 in the last 90 days. Insiders own 1.99% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in PACCAR during the 2nd quarter worth $4,927,720,000. Bank of America Corp DE bought a new position in PACCAR during the second quarter worth about $1,130,496,000. Bank of New York Mellon Corp bought a new position in PACCAR during the second quarter worth about $453,107,000. Legal & General Group Plc bought a new position in PACCAR during the second quarter worth about $335,776,000. Finally, Deutsche Bank AG acquired a new position in PACCAR in the second quarter valued at about $239,460,000. 64.90% of the stock is currently owned by institutional investors and hedge funds.

PACCAR Price Performance

Shares of PACCAR stock opened at $108.42 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.12 and a quick ratio of 2.90. The company has a market cap of $57.07 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.27 and a beta of 0.98. The firm has a fifty day moving average price of $119.09 and a two-hundred day moving average price of $120.47. PACCAR has a fifty-two week low of $93.86 and a fifty-two week high of $139.24.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings results on Tuesday, July 28th. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.07. The firm had revenue of $7.55 billion for the quarter, compared to analyst estimates of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.37 earnings per share. Analysts expect that PACCAR will post 5.91 EPS for the current year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, November 10th. PACCAR’s payout ratio is presently 29.41%.

PACCAR Company Profile

PACCAR Inc (NASDAQ: PCAR) is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company’s operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.