PACCAR (NASDAQ:PCAR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of PACCAR (NASDAQ:PCAR - Free Report) from a sell rating to a hold rating in a report issued on Friday.

PCAR has been the subject of a number of other research reports. Melius Research set a $120.00 price objective on shares of PACCAR in a report on Tuesday, March 18th. Bank of America upgraded PACCAR from a "neutral" rating to a "buy" rating and lifted their price target for the company from $116.00 to $121.50 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. downgraded PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. Royal Bank of Canada dropped their price target on PACCAR from $106.00 to $97.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 8th. Finally, UBS Group downgraded PACCAR from a "neutral" rating to a "sell" rating and decreased their price objective for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $105.23.

PACCAR Trading Down 0.5%

Shares of NASDAQ:PCAR traded down $0.45 during midday trading on Friday, hitting $95.48. The company had a trading volume of 501,244 shares, compared to its average volume of 2,757,883. PACCAR has a 12 month low of $84.65 and a 12 month high of $118.81. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. The stock has a market cap of $50.12 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.77 and a beta of 0.96. The firm has a fifty day simple moving average of $94.10 and a 200 day simple moving average of $104.08.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted 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). The company had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. The firm's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.27 earnings per share. On average, analysts predict that PACCAR will post 7.57 EPS for the current year.

PACCAR Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 4th. Investors of record on Wednesday, May 14th will be issued a $0.33 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.38%. PACCAR's dividend payout ratio is currently 20.00%.

Insider Buying and Selling

In other PACCAR news, VP Michael K. Walton sold 6,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $106.13, for a total value of $636,780.00. Following the transaction, the vice president now directly owns 951 shares in the company, valued at $100,929.63. The trade was a 86.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Pierre R. Breber bought 5,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was purchased at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director now directly owns 13,015 shares in the company, valued at approximately $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. 2.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PACCAR

Several hedge funds have recently bought and sold shares of the business. E Fund Management Hong Kong Co. Ltd. increased its holdings in PACCAR by 666.7% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of PACCAR by 221.8% in the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in PACCAR during the first quarter worth $29,000. Golden State Wealth Management LLC purchased a new stake in shares of PACCAR in the fourth quarter valued at about $37,000. Finally, Kestra Investment Management LLC purchased a new position in PACCAR during the fourth quarter worth about $37,000. Institutional investors own 64.90% of the company's stock.

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.