PACCAR Inc (NASDAQ:PCAR) Receives Consensus Recommendation of “Hold” from Analysts

PACCAR Inc (NASDAQ:PCAR) has received an average recommendation of “Hold” from the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $68.87.

PCAR has been the subject of a number of recent research reports. JPMorgan Chase & Co. upgraded PACCAR from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $87.00 to $66.00 in a research note on Wednesday, July 24th. Credit Suisse Group boosted their target price on PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Morgan Stanley boosted their target price on PACCAR from $63.00 to $64.00 and gave the company an “underweight” rating in a research report on Wednesday, July 24th. ValuEngine downgraded PACCAR from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st.

In other news, VP David J. Danforth sold 848 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $71.66, for a total transaction of $60,767.68. Following the completion of the transaction, the vice president now directly owns 4,958 shares of the company’s stock, valued at approximately $355,290.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Darrin C. Siver sold 5,067 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $70.10, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 18,834 shares of company stock worth $1,309,805. 2.32% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. Great Lakes Advisors LLC purchased a new stake in PACCAR during the 1st quarter valued at approximately $46,854,000. First Trust Advisors LP increased its position in PACCAR by 140.5% during the 2nd quarter. First Trust Advisors LP now owns 1,169,778 shares of the company’s stock worth $83,826,000 after purchasing an additional 683,432 shares during the period. AJO LP increased its position in PACCAR by 622.0% during the 1st quarter. AJO LP now owns 718,613 shares of the company’s stock worth $48,966,000 after purchasing an additional 619,081 shares during the period. BlackRock Inc. increased its position in PACCAR by 2.2% during the 1st quarter. BlackRock Inc. now owns 25,851,876 shares of the company’s stock worth $1,761,547,000 after purchasing an additional 554,802 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in PACCAR by 16.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,084,158 shares of the company’s stock worth $176,244,000 after purchasing an additional 430,705 shares during the period. 63.32% of the stock is owned by institutional investors and hedge funds.

NASDAQ PCAR traded up $1.04 during trading hours on Tuesday, hitting $65.47. The company’s stock had a trading volume of 1,041,405 shares, compared to its average volume of 1,844,990. PACCAR has a 12 month low of $53.43 and a 12 month high of $73.00. The stock has a 50 day moving average price of $70.57. The company has a market capitalization of $22.55 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.40 and a current ratio of 1.64.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.82 by ($0.04). The company had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $6.21 billion. PACCAR had a net margin of 9.43% and a return on equity of 25.99%. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 earnings per share. On average, equities analysts predict that PACCAR will post 6.77 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.96%. PACCAR’s payout ratio is 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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