Analysts Set PACCAR Inc (NASDAQ:PCAR) Price Target at $66.37

Shares of PACCAR Inc (NASDAQ:PCAR) have been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $66.37.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of PACCAR from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Evercore ISI reissued an “in-line” rating and issued a $76.00 target price (up from $73.00) on shares of PACCAR in a research report on Friday, May 31st. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Longbow Research downgraded shares of PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 target price on the stock. in a research report on Monday, May 6th.

In related news, insider Darrin C. Siver sold 5,067 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $70.10, for a total transaction of $355,196.70. Following the transaction, the insider now directly owns 23,193 shares of the company’s stock, valued at $1,625,829.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David J. Danforth sold 4,315 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $70.69, for a total transaction of $305,027.35. Following the transaction, the vice president now directly owns 7,286 shares in the company, valued at $515,047.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,301 shares of company stock worth $1,554,065. 2.32% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its position in PACCAR by 2.2% during the first quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock valued at $1,761,547,000 after purchasing an additional 554,802 shares in the last quarter. Norges Bank purchased a new position in PACCAR during the fourth quarter valued at approximately $333,867,000. Geode Capital Management LLC grew its position in PACCAR by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 5,068,951 shares of the company’s stock valued at $289,187,000 after purchasing an additional 350,337 shares in the last quarter. Northern Trust Corp grew its position in PACCAR by 3.3% during the first quarter. Northern Trust Corp now owns 4,137,807 shares of the company’s stock valued at $281,949,000 after purchasing an additional 132,159 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in PACCAR by 16.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,084,158 shares of the company’s stock valued at $176,244,000 after purchasing an additional 430,705 shares in the last quarter. 63.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PCAR traded up $0.06 during mid-day trading on Monday, hitting $71.40. The company’s stock had a trading volume of 671,811 shares, compared to its average volume of 1,867,771. The company has a 50-day moving average of $69.15. The company has a market cap of $24.74 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.26 and a beta of 1.24. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.49 and a quick ratio of 2.32. PACCAR has a fifty-two week low of $53.43 and a fifty-two week high of $73.00.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.65 by $0.16. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $6 billion. PACCAR had a net margin of 9.50% and a return on equity of 25.94%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.45 EPS. Equities research analysts forecast that PACCAR will post 6.72 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 4th. Stockholders of record on Tuesday, May 14th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Monday, May 13th. PACCAR’s dividend payout ratio (DPR) is currently 20.51%.

PACCAR Company Profile

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