Brokerages Set PACCAR Inc. (NASDAQ:PCAR) Target Price at $106.59

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given a consensus recommendation of “Hold” by the seventeen ratings firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation, five have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $106.5909.

PCAR has been the subject of several recent analyst reports. Truist Financial raised their target price on shares of PACCAR from $97.00 to $108.00 and gave the company a “hold” rating in a research note on Wednesday, October 22nd. Argus raised PACCAR from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Monday, July 28th. Raymond James Financial reaffirmed a “market perform” rating on shares of PACCAR in a research report on Tuesday, October 21st. Zacks Research downgraded PACCAR from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th.

PACCAR Price Performance

NASDAQ:PCAR opened at $97.46 on Tuesday. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a current ratio of 1.82, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $98.47 and a 200 day simple moving average of $96.23. The stock has a market capitalization of $51.18 billion, a PE ratio of 19.07, a P/E/G ratio of 4.11 and a beta of 0.94.

PACCAR (NASDAQ:PCAR) last posted its quarterly earnings results on Tuesday, October 21st. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.14 by ($0.02). PACCAR had a return on equity of 16.01% and a net margin of 9.11%.The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the company posted $1.85 earnings per share. The business’s revenue was down 20.7% compared to the same quarter last year. On average, research analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Wednesday, November 12th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.32 annualized dividend and a dividend yield of 1.4%. PACCAR’s dividend payout ratio is presently 25.83%.

Insider Activity at PACCAR

In related news, CFO Brice J. Poplawski sold 3,369 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $101.15, for a total value of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. This represents a 87.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. FORA Capital LLC acquired a new stake in PACCAR in the first quarter valued at approximately $597,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of PACCAR by 62.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 36,289 shares of the company’s stock valued at $3,533,000 after acquiring an additional 13,904 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of PACCAR by 51.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 12,962 shares of the company’s stock valued at $1,262,000 after acquiring an additional 4,429 shares during the last quarter. Stack Financial Management Inc acquired a new stake in shares of PACCAR during the 1st quarter valued at $20,585,000. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of PACCAR by 46.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,895 shares of the company’s stock valued at $26,702,000 after acquiring an additional 88,551 shares in the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.