PACCAR Inc. (NASDAQ:PCAR) Receives $122.00 Average PT from Brokerages

PACCAR Inc. (NASDAQ:PCAR) has been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned 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.

PCAR has been the subject of a number of analyst reports. Morgan Stanley set a $109.00 price target on PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. BNP Paribas Exane initiated coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 price target for the company. Wells Fargo & Company set a $125.00 price target on PACCAR and gave the company an “equal weight” rating in a research report on Wednesday, April 29th. Sanford C. Bernstein restated an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th. Finally, Evercore set a $139.00 price target on PACCAR in a research report on Monday, May 11th.

PACCAR Price Performance

Shares of PACCAR stock opened at $109.35 on Friday. The business has a 50 day simple moving average of $117.77 and a two-hundred day simple moving average of $115.75. PACCAR has a 12 month low of $90.05 and a 12 month high of $131.88. The stock has a market capitalization of $57.55 billion, a P/E ratio of 23.27, a PEG ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91.

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

PACCAR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date is Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently made changes to their positions in PCAR. Norges Bank purchased a new stake in shares of PACCAR in the fourth quarter valued at approximately $727,745,000. Wellington Management Group LLP grew its position in shares of PACCAR by 18.6% in the fourth quarter. Wellington Management Group LLP now owns 22,977,556 shares of the company’s stock valued at $2,516,272,000 after purchasing an additional 3,597,283 shares in the last quarter. UBS Group AG grew its position in shares of PACCAR by 74.4% in the fourth quarter. UBS Group AG now owns 4,548,861 shares of the company’s stock valued at $498,146,000 after purchasing an additional 1,940,260 shares in the last quarter. American Century Companies Inc. grew its position in shares of PACCAR by 235.9% in the third quarter. American Century Companies Inc. now owns 2,540,688 shares of the company’s stock valued at $249,801,000 after purchasing an additional 1,784,236 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in PACCAR by 129.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,275,921 shares of the company’s stock worth $249,237,000 after acquiring an additional 1,286,056 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

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.