PACCAR Inc (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Brokerages
PACCAR Inc (NASDAQ:PCAR) has been given an average rating of “Hold” by the seventeen brokerages that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $68.87.
Several equities analysts recently commented on the stock. Credit Suisse Group increased their price objective on shares of PACCAR from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, July 24th. Longbow Research lowered shares of PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price objective for the company. in a research report on Monday, May 6th. BidaskClub lowered shares of PACCAR from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Loop Capital downgraded shares of PACCAR from a “hold” rating to a “sell” rating and cut their price target for the stock from $70.00 to $62.00 in a report on Tuesday, July 2nd. Finally, Evercore ISI reiterated an “in-line” rating and issued a $76.00 price target (up previously from $73.00) on shares of PACCAR in a report on Friday, May 31st.
Shares of PACCAR stock traded up $1.56 during midday trading on Tuesday, hitting $66.34. The company had a trading volume of 1,620,385 shares, compared to its average volume of 1,835,916. The stock has a market capitalization of $22.44 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.15 and a beta of 1.25. The company has a current ratio of 2.43, a quick ratio of 2.26 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average price of $69.66. PACCAR has a 12-month low of $53.43 and a 12-month high of $73.00.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Wednesday, August 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.28 annualized dividend and a yield of 1.93%. PACCAR’s dividend payout ratio (DPR) is presently 20.51%.
In other news, insider Darrin C. Siver sold 5,067 shares of the firm’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 sale, the insider now owns 23,193 shares of the company’s stock, valued at approximately $1,625,829.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP C Michael Dozier sold 12,638 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $69.17, for a total transaction of $874,170.46. Following the sale, the vice president now directly owns 8,401 shares in the company, valued at approximately $581,097.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,834 shares of company stock worth $1,309,805. 2.32% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Destination Wealth Management acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $25,000. Virtus ETF Advisers LLC acquired a new stake in shares of PACCAR during the 2nd quarter worth approximately $26,000. Cable Hill Partners LLC acquired a new stake in shares of PACCAR during the 1st quarter worth approximately $29,000. Advisory Services Network LLC grew its stake in shares of PACCAR by 149.4% during the 2nd quarter. Advisory Services Network LLC now owns 434 shares of the company’s stock worth $31,000 after purchasing an additional 260 shares during the period. Finally, Enterprise Financial Services Corp grew its stake in shares of PACCAR by 76.8% during the 2nd quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock worth $35,000 after purchasing an additional 212 shares during the period. 63.60% of the stock is currently owned by institutional investors and hedge funds.
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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