PACCAR Inc (NASDAQ:PCAR – Get Rating) has been given an average recommendation of “Moderate Buy” by the fifteen research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $95.43.
Several equities research analysts recently issued reports on the company. Vertical Research cut PACCAR from a “buy” rating to a “hold” rating and boosted their price target for the company from $100.00 to $102.00 in a research note on Wednesday, August 17th. Cowen cut their target price on PACCAR from $100.00 to $92.00 in a research note on Thursday, July 7th. StockNews.com started coverage on PACCAR in a research note on Wednesday, October 12th. They set a “buy” rating for the company. Citigroup upped their target price on PACCAR from $88.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th. Finally, Cowen cut their target price on PACCAR from $100.00 to $92.00 in a research note on Thursday, July 7th.
PACCAR Trading Up 2.0 %
Shares of PCAR stock opened at $89.29 on Monday. The company has a current ratio of 2.62, a quick ratio of 2.36 and a debt-to-equity ratio of 0.58. The stock has a market cap of $31.04 billion, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.13 and a beta of 0.86. The stock has a 50 day simple moving average of $88.34 and a 200 day simple moving average of $86.19. PACCAR has a 1 year low of $77.00 and a 1 year high of $97.56.
PACCAR (NASDAQ:PCAR – Get Rating) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.26. The business had revenue of $6.79 billion during the quarter, compared to analysts’ expectations of $6.57 billion. PACCAR had a return on equity of 18.64% and a net margin of 8.68%. The firm’s revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. On average, research analysts predict that PACCAR will post 7.77 earnings per share for the current fiscal year.
PACCAR Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.37 per share. The ex-dividend date is Monday, November 14th. This is an increase from PACCAR’s previous quarterly dividend of $0.34. This represents a $1.48 annualized dividend and a dividend yield of 1.66%. PACCAR’s dividend payout ratio is 21.45%.
Insider Transactions at PACCAR
In related news, VP Todd R. Hubbard sold 2,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $91.50, for a total value of $183,000.00. Following the completion of the sale, the vice president now directly owns 2,119 shares in the company, valued at $193,888.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.05% of the company’s stock.
Institutional Trading of PACCAR
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Twin Capital Management Inc. increased its holdings in PACCAR by 130.0% in the third quarter. Twin Capital Management Inc. now owns 16,503 shares of the company’s stock valued at $1,381,000 after purchasing an additional 9,328 shares during the period. Whittier Trust Co. boosted its position in PACCAR by 349.0% during the third quarter. Whittier Trust Co. now owns 14,763 shares of the company’s stock valued at $1,236,000 after acquiring an additional 11,475 shares during the last quarter. KCS Wealth Advisory boosted its position in PACCAR by 12.9% during the third quarter. KCS Wealth Advisory now owns 29,888 shares of the company’s stock valued at $2,501,000 after acquiring an additional 3,416 shares during the last quarter. CTC Capital Management LLC bought a new stake in PACCAR during the third quarter valued at $1,147,000. Finally, Jmac Enterprises LLC bought a new stake in PACCAR during the third quarter valued at $209,000. 64.17% 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, 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.
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Read More: PACCAR Inc (NASDAQ:PCAR) Given Average Rating of “Moderate Buy” by Brokerages