PACCAR (NASDAQ:PCAR) Rating Increased to Hold at Wall Street Zen

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

Several other research firms have also issued reports on PCAR. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Royal Bank Of Canada dropped their price target on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research report on Thursday, May 8th. Citigroup increased their price target on shares of PACCAR from $95.00 to $100.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Evercore ISI dropped their price target on shares of PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Truist Financial dropped their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $104.59.

PACCAR Stock Performance

Shares of PCAR traded up $0.17 during trading hours on Friday, reaching $95.06. 2,256,746 shares of the company traded hands, compared to its average volume of 2,715,785. The stock's fifty day moving average is $92.69 and its 200 day moving average is $99.53. The stock has a market cap of $49.90 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 3.51 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.19 and a current ratio of 2.35. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). PACCAR had a net margin of 10.73% and a return on equity of 20.79%. The business had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.13 billion. During the same period in the previous year, the firm earned $2.27 EPS. The business's revenue was down 16.0% compared to the same quarter last year. Equities research analysts anticipate that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th were paid a dividend of $0.33 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.39%. PACCAR's dividend payout ratio is 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber acquired 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director owned 13,015 shares of the company's stock, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of PACCAR by 666.7% in the 1st 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 period. Meeder Asset Management Inc. increased 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 valued at $29,000 after buying an additional 193 shares during the period. Alpine Bank Wealth Management acquired a new stake in shares of PACCAR in the 1st quarter valued at $29,000. Sunbelt Securities Inc. increased its stake in shares of PACCAR by 8,750.0% in the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after buying an additional 350 shares during the period. Finally, Bayforest Capital Ltd increased its stake in shares of PACCAR by 234.2% in the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after buying an additional 274 shares during the period. 64.90% of the stock is currently owned by institutional investors.

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.