PACCAR (NASDAQ:PCAR) Hits New 12-Month High - Here's Why

Key Points

• PACCAR shares hit a new 52-week high, trading as high as $133.18 after a modest 1.4% gain, signaling strong recent momentum in the stock.
• Recent analyst activity has been mixed: several firms maintained or raised targets, but Weiss Ratings downgraded the stock, and the overall consensus remains a Hold with an average price target of $124.18.
• PACCAR reported quarterly EPS of $1.15, matching estimates, while revenue of $6.78 billion topped expectations; the company also announced a quarterly dividend of $0.35 per share, payable Sept. 2.

PACCAR Inc. (NASDAQ:PCAR - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $133.18 and last traded at $132.6450, with a volume of 144713 shares traded. The stock had previously closed at $131.11.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCAR. Evercore set a $139.00 price objective on PACCAR in a research note on Monday, May 11th. Weiss Ratings lowered PACCAR from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 21st. BNP Paribas Exane started coverage on PACCAR in a report on Tuesday, March 31st. They set a "neutral" rating and a $126.00 target price for the company. Morgan Stanley increased their target price on PACCAR from $109.00 to $113.00 and gave the company an "equal weight" rating in a report on Friday, July 17th. Finally, Truist Financial raised their price target on PACCAR from $126.00 to $131.00 and gave the stock a "hold" rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $124.18.

PACCAR Stock Up 1.4%

The firm has a market cap of $69.99 billion, a PE ratio of 28.27, a PEG ratio of 1.16 and a beta of 0.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The company's 50-day simple moving average is $118.20 and its two-hundred day simple moving average is $120.02.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.15. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. The company's revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.46 EPS. On average, analysts predict that PACCAR Inc. will post 5.66 earnings per share for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Investors of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $1.40 annualized dividend and a dividend yield of 1.1%. PACCAR's dividend payout ratio (DPR) is presently 29.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ares Financial Consulting LLC purchased a new position in shares of PACCAR during the fourth quarter valued at approximately $27,000. Steph & Co. bought a new position in shares of PACCAR during the first quarter valued at approximately $29,000. MCF Advisors LLC lifted its stake in PACCAR by 57.5% in the fourth quarter. MCF Advisors LLC now owns 252 shares of the company's stock worth $28,000 after acquiring an additional 92 shares during the period. Elyxium Wealth LLC purchased a new stake in PACCAR in the fourth quarter worth $30,000. Finally, Camelot Portfolios LLC bought a new stake in PACCAR in the fourth quarter valued at $33,000. Institutional investors own 64.90% of the company's stock.

PACCAR Company Profile

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company's products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR's core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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