StockNews.com Lowers PACCAR (NASDAQ:PCAR) to Hold

StockNews.com lowered shares of PACCAR (NASDAQ:PCARFree Report) from a buy rating to a hold rating in a research report report published on Thursday morning.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their target price on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a report on Wednesday, May 1st. UBS Group upgraded PACCAR from a neutral rating to a buy rating and boosted their price target for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Truist Financial restated a hold rating and set a $121.00 price target (up previously from $117.00) on shares of PACCAR in a research note on Thursday, May 2nd. Royal Bank of Canada assumed coverage on PACCAR in a research note on Tuesday, March 26th. They set a sector perform rating and a $123.00 price target on the stock. Finally, The Goldman Sachs Group boosted their price target on PACCAR from $106.00 to $121.00 and gave the stock a neutral rating in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $114.38.

View Our Latest Stock Analysis on PACCAR

PACCAR Stock Performance

PCAR stock opened at $102.94 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. The business has a 50-day moving average price of $107.60 and a 200 day moving average price of $107.77. The company has a market capitalization of $53.96 billion, a P/E ratio of 10.68, a PEG ratio of 1.57 and a beta of 0.94. PACCAR has a 1-year low of $80.64 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCARGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.07. The business had revenue of $8.24 billion during the quarter, compared to the consensus estimate of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.25 earnings per share. As a group, equities research analysts forecast that PACCAR will post 8.35 EPS for the current fiscal year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Shareholders of record on Wednesday, May 15th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.17%. The ex-dividend date was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. PACCAR’s dividend payout ratio is currently 12.45%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 33,850 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the completion of the transaction, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at approximately $16,397,377.40. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, VP Michael K. Walton sold 9,123 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $105.11, for a total value of $958,918.53. Following the completion of the transaction, the vice president now directly owns 1,468 shares of the company’s stock, valued at approximately $154,301.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO R Preston Feight sold 33,850 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $106.18, for a total value of $3,594,193.00. Following the completion of the sale, the chief executive officer now directly owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,040 shares of company stock worth $4,779,241. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the stock. PSI Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter worth $25,000. YHB Investment Advisors Inc. acquired a new stake in shares of PACCAR in the 1st quarter worth $27,000. New Covenant Trust Company N.A. acquired a new stake in shares of PACCAR in the 1st quarter worth $27,000. Riverview Trust Co acquired a new stake in shares of PACCAR in the 1st quarter worth $29,000. Finally, Rise Advisors LLC acquired a new stake in shares of PACCAR in the 1st quarter worth $31,000. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Company Profile

(Get Free Report)

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.

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