PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• PACCAR Inc. has been given an average recommendation of "Moderate Buy" by 14 brokerages, with an average 1-year price target of $107.68.
• CEO R Preston Feight and CFO Brice J. Poplawski recently sold shares of PACCAR, resulting in a 15.19% and 91.44% decrease in their ownership positions, respectively.
• PACCAR reported a net margin of 9.88% and a year-over-year revenue decline of 15.7% in its latest quarterly earnings, despite beating EPS estimates.

Shares of PACCAR Inc. (NASDAQ:PCAR - Get Free Report) have received an average recommendation of "Moderate Buy" from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $107.6818.

Several research firms recently commented on PCAR. Vertical Research upgraded shares of PACCAR to a "strong-buy" rating in a research report on Wednesday, July 23rd. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Argus upgraded shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price target for the company in a research report on Monday, July 28th. UBS Group upgraded shares of PACCAR from a "sell" rating to a "neutral" rating and upped their price target for the company from $81.00 to $100.00 in a research report on Wednesday, July 23rd. Finally, Truist Financial reduced their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday, July 23rd.

Insider Buying and Selling at PACCAR

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total value of $3,977,316.80. Following the transaction, the chief executive officer directly owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $100.94, for a total transaction of $504,700.00. Following the completion of the transaction, the chief financial officer directly owned 468 shares in the company, valued at $47,239.92. This represents a 91.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Several institutional investors have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. increased its stake in PACCAR by 53.8% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock valued at $28,000 after buying an additional 100 shares during the period. Fidelis Capital Partners LLC increased its stake in PACCAR by 2.9% in the 2nd quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company's stock valued at $366,000 after buying an additional 105 shares during the period. Intellectus Partners LLC increased its stake in PACCAR by 1.0% in the 2nd quarter. Intellectus Partners LLC now owns 10,673 shares of the company's stock valued at $1,015,000 after buying an additional 109 shares during the period. Farmers & Merchants Investments Inc. increased its stake in PACCAR by 33.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock valued at $45,000 after buying an additional 116 shares during the period. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of PACCAR by 1.2% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company's stock worth $917,000 after purchasing an additional 116 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

PACCAR Trading Up 0.9%

NASDAQ PCAR opened at $99.05 on Monday. The company has a quick ratio of 2.80, a current ratio of 3.02 and a debt-to-equity ratio of 0.57. PACCAR has a 52 week low of $84.65 and a 52 week high of $118.81. The stock has a market capitalization of $52.01 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 3.98 and a beta of 0.94. The firm has a 50 day moving average of $98.25 and a two-hundred day moving average of $96.23.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The firm had revenue of $6.96 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. PACCAR's revenue for the quarter was down 15.7% on a year-over-year basis. As a group, research analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 14th. PACCAR's payout ratio is currently 22.60%.

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.

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