PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by Wall Street Zen

Key Points

• PACCAR's rating was upgraded from "sell" to "hold" by Wall Street Zen, reflecting a more positive outlook on the company's stock.
• Multiple analysts have adjusted their price targets for PACCAR, with the consensus rating currently at "Hold" and an average target price of $106.45.
• PACCAR recently reported quarterly earnings of $1.37 EPS, exceeding expectations, but noted a 15.7% decline in revenue year-over-year.

Wall Street Zen upgraded shares of PACCAR (NASDAQ:PCAR - Free Report) from a sell rating to a hold rating in a research note released on Saturday.

PCAR has been the subject of a number of other reports. Royal Bank Of Canada cut their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a report on Thursday, May 8th. Evercore ISI lowered their price target on PACCAR from $127.00 to $115.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Truist Financial reduced their price objective on PACCAR from $102.00 to $98.00 and set a "hold" rating for the company in a research report on Wednesday. Citigroup lifted their price objective on PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and lifted their price objective for the stock from $81.00 to $100.00 in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $106.45.

PACCAR Stock Up 0.1%

Shares of NASDAQ PCAR traded up $0.14 during trading on Friday, reaching $101.57. 2,983,287 shares of the stock were exchanged, compared to its average volume of 3,344,924. The company has a quick ratio of 2.19, a current ratio of 1.73 and a debt-to-equity ratio of 0.55. The business's 50-day moving average price is $95.03 and its 200 day moving average price is $98.35. The company has a market capitalization of $53.32 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 4.04 and a beta of 0.94. PACCAR has a twelve month low of $84.65 and a twelve month high of $118.81.

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

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 14th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Thursday, August 14th. PACCAR's dividend payout ratio is 22.60%.

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 5,000 shares of the firm's stock in a transaction that occurred 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 owned 468 shares in the company, valued at approximately $47,239.92. This trade represents a 91.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Pierre R. Breber bought 5,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the transaction, the director owned 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

Several institutional investors and hedge funds have recently made changes to their positions in PCAR. Atria Wealth Solutions Inc. lifted its holdings in shares of PACCAR by 0.3% in the second quarter. Atria Wealth Solutions Inc. now owns 63,052 shares of the company's stock valued at $5,994,000 after purchasing an additional 218 shares in the last quarter. Vest Financial LLC lifted its stake in PACCAR by 11.7% during the second quarter. Vest Financial LLC now owns 394,693 shares of the company's stock worth $37,520,000 after purchasing an additional 41,195 shares during the last quarter. Hazlett Burt & Watson Inc. lifted its stake in shares of 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 acquiring an additional 100 shares during the last quarter. SPC Financial Inc. lifted its holdings in PACCAR by 1.2% in the 2nd quarter. SPC Financial Inc. now owns 14,689 shares of the company's stock worth $1,396,000 after buying an additional 180 shares during the period. Finally, CWM LLC grew its holdings in shares of PACCAR by 2.2% during the 2nd quarter. CWM LLC now owns 253,373 shares of the company's stock worth $24,086,000 after acquiring an additional 5,344 shares during the period. Institutional investors own 64.90% of the company's stock.

PACCAR Company Profile

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.