PACCAR Inc. (NASDAQ:PCAR) Stock Rated "Hold" by Wall Street Analysts

Key Points

• Analysts have a “Hold” consensus on PACCAR: eight of 15 rate it Hold and seven rate it Buy. The average 12-month price target is $131.96.
• PACCAR reported quarterly EPS of $1.61, in line with estimates, while revenue of $8.50 billion exceeded the $7.48 billion forecast and rose 20.8% year over year.
• The company declared a quarterly dividend of $0.35 per share, equivalent to an annualized yield of about 1.4%.

Shares of PACCAR Inc. (NASDAQ:PCAR - Get Free Report) have received an average recommendation of "Hold" from the fifteen analysts that are presently covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $131.96.

A number of analysts have issued reports on PCAR shares. Citigroup cut their target price on PACCAR from $140.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday, October 12th. Jefferies Financial Group raised their target price on shares of PACCAR from $120.00 to $140.00 and gave the stock a "hold" rating in a report on Wednesday, July 29th. Truist Financial cut their price objective on shares of PACCAR from $125.00 to $124.00 and set a "hold" rating for the company in a research report on Wednesday, October 28th. Evercore boosted their target price on shares of PACCAR from $139.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Sanford C. Bernstein reissued an "outperform" rating and set a $148.00 price target (up from $142.00) on shares of PACCAR in a report on Wednesday, July 29th.

Institutional Investors Weigh In On PACCAR

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in PACCAR in the 2nd quarter worth about $4,927,720,000. Bank of America Corp DE purchased a new stake in shares of PACCAR in the 2nd quarter valued at approximately $1,130,496,000. Bank of New York Mellon Corp purchased a new stake in shares of PACCAR during the second quarter worth about $453,107,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in PACCAR by 9.8% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,424,315 shares of the company's stock valued at $411,329,000 after buying an additional 305,215 shares in the last quarter. Finally, Aberdeen Group plc boosted its position in PACCAR by 396.5% during the third quarter. Aberdeen Group plc now owns 3,559,353 shares of the company's stock worth $390,853,000 after purchasing an additional 2,842,450 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $101.98 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.98 and a current ratio of 3.22. The company has a market cap of $53.69 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.32 and a beta of 0.96. PACCAR has a 52-week low of $93.86 and a 52-week high of $139.24. The firm's fifty day moving average is $112.25 and its two-hundred day moving average is $119.73.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.61. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The company had revenue of $8.50 billion during the quarter, compared to analysts' expectations of $7.48 billion. During the same quarter in the previous year, the business posted $1.12 earnings per share. The firm's quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts anticipate that PACCAR will post 5.84 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Wednesday, November 11th will be given a dividend of $0.35 per share. The ex-dividend date is Tuesday, November 10th. This represents a $1.40 annualized dividend and a dividend yield of 1.4%. PACCAR's dividend payout ratio is currently 26.67%.

About PACCAR

PACCAR Inc is a global manufacturer of commercial trucks and a provider of related products and services. Its truck brands include Kenworth and Peterbilt in North America and DAF in Europe. The company also manufactures engines and supplies replacement parts and aftermarket support for its vehicles.

PACCAR serves customers through manufacturing, sales and service operations across North America, Europe and other international markets. Its businesses also include PACCAR Financial, which provides financing and leasing solutions to truck customers and dealers.

Founded in 1905 as Seattle Car Manufacturing Company, the business later became Pacific Car and Foundry before adopting the PACCAR name in 1972.

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