PACCAR Inc. (NASDAQ:PCAR) Receives $122.00 Consensus Target Price from Brokerages

PACCAR Inc. (NASDAQ:PCAR) has been given a consensus recommendation of “Hold” by the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $122.00.

Several brokerages have recently commented on PCAR. JPMorgan Chase & Co. reduced their price objective on shares of PACCAR from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Wells Fargo & Company set a $125.00 price objective on shares of PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Truist Financial raised their price objective on shares of PACCAR from $120.00 to $126.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Citigroup reaffirmed a “neutral” rating and set a $125.00 price objective (down from $130.00) on shares of PACCAR in a research report on Thursday, April 30th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of PACCAR in a research report on Tuesday, February 24th.

Hedge Funds Weigh In On PACCAR

A number of large investors have recently modified their holdings of the company. Western Wealth Management LLC bought a new position in shares of PACCAR in the 1st quarter worth $141,000. Edgestream Partners L.P. lifted its holdings in shares of PACCAR by 839.7% in the 1st quarter. Edgestream Partners L.P. now owns 35,174 shares of the company’s stock worth $4,063,000 after purchasing an additional 31,431 shares in the last quarter. Bull Harbor Capital LLC bought a new position in shares of PACCAR in the 1st quarter worth $234,000. Amundi lifted its holdings in shares of PACCAR by 42.1% in the 1st quarter. Amundi now owns 1,531,814 shares of the company’s stock worth $176,924,000 after purchasing an additional 454,006 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of PACCAR by 14.0% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,568 shares of the company’s stock worth $412,000 after purchasing an additional 439 shares in the last quarter. 64.90% of the stock is currently owned by institutional investors.

PACCAR Stock Performance

Shares of PCAR stock opened at $111.64 on Friday. The company has a market cap of $58.75 billion, a price-to-earnings ratio of 23.75, a price-to-earnings-growth ratio of 1.02 and a beta of 1.02. PACCAR has a 52 week low of $90.05 and a 52 week high of $131.88. The company has a quick ratio of 2.91, a current ratio of 3.11 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $118.14 and a 200-day moving average of $115.72.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. On average, equities analysts forecast that PACCAR will post 5.59 earnings per share for the current year.

PACCAR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 3rd. Investors of record on Wednesday, May 13th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from PACCAR’s previous quarterly dividend of $0.33. PACCAR’s dividend payout ratio (DPR) is 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.