PACCAR Inc (NASDAQ:PCAR) Receives Average Recommendation of "Hold" from Brokerages

PACCAR Inc (NASDAQ:PCAR - Get Free Report) has been given a consensus recommendation of "Hold" by the fourteen analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $105.23.

PCAR has been the topic of several analyst reports. JPMorgan Chase & Co. downgraded shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $105.00 to $90.00 in a research note on Wednesday, April 30th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 target price on shares of PACCAR in a research report on Tuesday, March 18th. Bank of America raised shares of PACCAR from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $116.00 to $121.50 in a research report on Tuesday, January 14th. Finally, Truist Financial dropped their target price on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th.

PACCAR Stock Down 1.0%

PACCAR stock traded down $0.95 during midday trading on Tuesday, hitting $90.61. 2,238,168 shares of the stock were exchanged, compared to its average volume of 2,764,008. PACCAR has a 1 year low of $84.65 and a 1 year high of $118.81. The firm has a market cap of $47.57 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.77 and a beta of 0.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The company has a 50 day moving average price of $94.45 and a two-hundred day moving average price of $104.20.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm had revenue of $6.91 billion for the quarter, compared to analysts' expectations of $7.13 billion. During the same period last year, the firm earned $2.27 EPS. The business's quarterly revenue was down 16.0% on a year-over-year basis. On average, sell-side analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 4th. Stockholders of record on Wednesday, May 14th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Wednesday, May 14th. PACCAR's dividend payout ratio (DPR) is presently 20.00%.

Insider Activity

In other news, Director Pierre R. Breber bought 5,000 shares of PACCAR stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the purchase, the director now directly owns 13,015 shares of the company's stock, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Harrie Schippers sold 28,676 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the transaction, the chief financial officer now directly owns 114,659 shares of the company's stock, valued at $12,150,414.23. The trade was a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in PACCAR by 666.7% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of PACCAR in the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of PACCAR in the 4th quarter worth approximately $37,000. 64.90% of the stock is owned by institutional investors and hedge funds.

About PACCAR

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.