PACCAR Inc. (NASDAQ:PCAR) Receives $111.04 Consensus Target Price from Brokerages

PACCAR Inc. (NASDAQ:PCAR) has received an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $112.3333.

A number of research firms recently issued reports on PCAR. Wolfe Research upgraded shares of PACCAR from an “underperform” rating to a “peer perform” rating in a report on Wednesday, October 22nd. Zacks Research raised shares of PACCAR from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. Citigroup reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $113.56) on shares of PACCAR in a research note on Tuesday. Finally, Wall Street Zen downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday.

Insider Transactions at PACCAR

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total transaction of $340,774.35. Following the completion of the transaction, the chief financial officer owned 468 shares in the company, valued at $47,338.20. This trade represents a 87.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of institutional investors have recently modified their holdings of PCAR. Hazlett Burt & Watson Inc. raised its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock valued at $28,000 after acquiring an additional 100 shares during the period. Private Wealth Management Group LLC grew its position in shares of PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 211 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of PACCAR during the 3rd quarter valued at $32,000. Bayforest Capital Ltd lifted its holdings in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock worth $38,000 after purchasing an additional 274 shares in the last quarter. Finally, AlphaQuest LLC bought a new position in PACCAR in the 3rd quarter worth about $38,000. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Performance

PACCAR stock traded down $0.56 during mid-day trading on Friday, reaching $121.36. 3,325,881 shares of the company’s stock were exchanged, compared to its average volume of 2,677,437. The business’s fifty day simple moving average is $108.94 and its 200 day simple moving average is $102.02. The company has a quick ratio of 2.91, a current ratio of 3.12 and a debt-to-equity ratio of 0.56. PACCAR has a one year low of $84.65 and a one year high of $122.65. The firm has a market capitalization of $63.74 billion, a PE ratio of 23.75, a P/E/G ratio of 14.96 and a beta of 1.01.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). The business had revenue of $7.24 billion during the quarter, compared to the consensus estimate of $6.23 billion. PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The firm’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.85 EPS. On average, sell-side analysts expect that PACCAR will post 7.57 earnings per share for the current year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio (DPR) is 25.83%.

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.