BidaskClub upgraded shares of PACCAR (NASDAQ:PCAR) from a sell rating to a hold rating in a report issued on Tuesday.

A number of other research firms have also issued reports on PCAR. ValuEngine raised shares of PACCAR from a sell rating to a hold rating in a research report on Saturday, August 18th. Credit Suisse Group reduced their price target on shares of PACCAR from $69.00 to $60.00 and set a neutral rating for the company in a research report on Wednesday, October 24th. Argus lowered shares of PACCAR from a buy rating to a hold rating in a research report on Wednesday, October 24th. They noted that the move was a valuation call. Citigroup lifted their target price on shares of PACCAR from $65.00 to $67.00 and gave the company a neutral rating in a report on Wednesday, July 25th. Finally, Wolfe Research lowered shares of PACCAR from a peer perform rating to an underperform rating in a report on Friday, October 5th. Five equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $68.73.

PCAR opened at $58.36 on Tuesday. PACCAR has a 12-month low of $53.95 and a 12-month high of $79.69. The company has a quick ratio of 1.05, a current ratio of 2.63 and a debt-to-equity ratio of 0.72. The company has a market cap of $21.00 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 0.90 and a beta of 1.39.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 23rd. The company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.04. PACCAR had a net margin of 9.73% and a return on equity of 23.52%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.50 billion. During the same period last year, the firm posted $1.14 EPS. PACCAR’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts expect that PACCAR will post 6.16 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 4th. Stockholders of record on Tuesday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, November 9th. PACCAR’s dividend payout ratio (DPR) is 26.29%.

In related news, VP David J. Danforth sold 651 shares of PACCAR stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $59.44, for a total value of $38,695.44. Following the sale, the vice president now owns 5,453 shares of the company’s stock, valued at approximately $324,126.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark C. Pigott sold 194,004 shares of PACCAR stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $58.84, for a total transaction of $11,415,195.36. Following the completion of the sale, the insider now directly owns 3,080,449 shares in the company, valued at approximately $181,253,619.16. The disclosure for this sale can be found here. 2.64% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in PCAR. Bank of New York Mellon Corp grew its stake in PACCAR by 33.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,026,604 shares of the company’s stock valued at $410,954,000 after acquiring an additional 1,505,929 shares during the period. FMR LLC grew its stake in PACCAR by 26.1% in the 3rd quarter. FMR LLC now owns 6,043,716 shares of the company’s stock valued at $412,121,000 after acquiring an additional 1,249,446 shares during the period. Federated Investors Inc. PA grew its stake in PACCAR by 9,286.5% in the 2nd quarter. Federated Investors Inc. PA now owns 902,329 shares of the company’s stock valued at $55,908,000 after acquiring an additional 892,716 shares during the period. Schroder Investment Management Group grew its stake in PACCAR by 934.2% in the 2nd quarter. Schroder Investment Management Group now owns 869,356 shares of the company’s stock valued at $53,935,000 after acquiring an additional 785,295 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in PACCAR by 75.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,780,223 shares of the company’s stock valued at $121,393,000 after acquiring an additional 763,338 shares during the period. 61.33% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. It operates in three segments: Truck, Parts, and Financial Services. The Truck segment offers 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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