Paccar Inc. (PCAR) Given Average Recommendation of “Hold” by Brokerages
Shares of Paccar Inc. (NASDAQ:PCAR) have earned an average rating of “Hold” from the twenty research firms that are presently covering the stock. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $54.64.
A number of research firms recently weighed in on PCAR. Deutsche Bank AG began coverage on shares of Paccar in a research note on Tuesday, September 6th. They issued a “hold” rating and a $63.00 price objective for the company. TheStreet lowered shares of Paccar from a “buy” rating to a “hold” rating in a research note on Tuesday, October 25th. Zacks Investment Research upgraded shares of Paccar from a “sell” rating to a “hold” rating in a research note on Thursday, October 13th. started coverage on shares of Paccar in a report on Friday, September 30th. They issued an “outperform” rating and a $65.00 price target for the company. Finally, Barclays PLC raised their price target on shares of Paccar from $47.00 to $50.00 and gave the company an “underweight” rating in a report on Wednesday, October 12th.
Shares of Paccar (NASDAQ:PCAR) traded up 1.89% on Wednesday, hitting $62.43. 783,148 shares of the stock traded hands. Paccar has a 52 week low of $43.46 and a 52 week high of $62.48. The firm has a market cap of $21.88 billion, a P/E ratio of 38.00 and a beta of 1.30. The stock has a 50-day moving average price of $57.58 and a 200 day moving average price of $56.65.
Paccar (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 25th. The company reported $0.98 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.01. Paccar had a net margin of 3.41% and a return on equity of 20.96%. The business earned $4.25 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. Equities research analysts predict that Paccar will post $3.90 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Friday, November 18th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Wednesday, November 16th. Paccar’s payout ratio is 58.54%.
In other Paccar news, insider T. Kyle Quinn sold 3,024 shares of the business’s stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $54.80, for a total value of $165,715.20. Following the transaction, the insider now owns 16,672 shares in the company, valued at $913,625.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP C Michael Dozier sold 4,032 shares of the business’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $55.66, for a total transaction of $224,421.12. Following the completion of the transaction, the vice president now owns 4,032 shares in the company, valued at approximately $224,421.12. The disclosure for this sale can be found here. 2.62% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PCAR. Marathon Asset Management LLP boosted its position in shares of Paccar by 1.9% in the second quarter. Marathon Asset Management LLP now owns 166,373 shares of the company’s stock valued at $8,629,000 after buying an additional 3,171 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of Paccar by 75.0% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 10,500 shares of the company’s stock valued at $545,000 after buying an additional 4,500 shares in the last quarter. Baker Boyer National Bank boosted its position in shares of Paccar by 8.8% in the second quarter. Baker Boyer National Bank now owns 6,170 shares of the company’s stock valued at $320,000 after buying an additional 500 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of Paccar by 34.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 2,721 shares of the company’s stock valued at $141,000 after buying an additional 700 shares in the last quarter. Finally, Creative Planning boosted its position in shares of Paccar by 97.3% in the second quarter. Creative Planning now owns 9,894 shares of the company’s stock valued at $513,000 after buying an additional 4,880 shares in the last quarter. Hedge funds and other institutional investors own 60.50% of the company’s stock.
Paccar Company Profile
PACCAR Inc (PACCAR) is a global technology company engaged in the design, manufacture and customer support of trucks. The Company operates in three segments: the Truck segment, which includes the design, manufacture and distribution of light-, medium- and heavy-duty commercial trucks; the Parts segment, which includes the distribution of aftermarket parts for trucks and related commercial vehicles, and the Financial Services segment, which includes the finance and leasing products, and services provided to customers and dealers.
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