Brokerages Set PACCAR Inc. (NASDAQ:PCAR) PT at $122.45

Shares of PACCAR Inc. (NASDAQ:PCAR) have been given a consensus rating of “Hold” by the sixteen brokerages that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $122.4545.

PCAR has been the topic of a number of analyst reports. Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 21st. Wells Fargo & Company set a $125.00 target price on PACCAR and gave the stock an “equal weight” rating in a report on Wednesday, April 29th. Citigroup restated a “neutral” rating and issued a $125.00 price target (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, BNP Paribas Exane assumed coverage on shares of PACCAR in a research report on Tuesday, March 31st. They set a “neutral” rating and a $126.00 price objective for the company.

Hedge Funds Weigh In On PACCAR

Several institutional investors and hedge funds have recently added to or reduced their stakes in PCAR. Ares Financial Consulting LLC acquired a new stake in shares of PACCAR during the 4th quarter valued at $27,000. MCF Advisors LLC increased its holdings in PACCAR by 57.5% in the 4th quarter. MCF Advisors LLC now owns 252 shares of the company’s stock worth $28,000 after purchasing an additional 92 shares in the last quarter. Steph & Co. bought a new position in PACCAR in the first quarter valued at about $29,000. Elyxium Wealth LLC bought a new position in PACCAR in the fourth quarter valued at about $30,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of PACCAR during the third quarter valued at about $32,000. Institutional investors own 64.90% of the company’s stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $124.46 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.11 and a quick ratio of 2.91. The firm has a market cap of $65.50 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 1.17 and a beta of 0.97. The stock’s fifty day moving average price is $116.27 and its two-hundred day moving average price is $118.95. PACCAR has a one year low of $92.25 and a one year high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the prior year, the company posted $1.46 earnings per share. PACCAR’s revenue was down 9.8% compared to the same quarter last year. On average, equities analysts forecast that PACCAR will post 5.58 EPS for the current year.

PACCAR Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Wednesday, May 13th. PACCAR’s dividend payout ratio (DPR) is currently 29.79%.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.