Evercore ISI Cuts PACCAR (NASDAQ:PCAR) Price Target to $115.00

by · The Cerbat Gem

PACCAR (NASDAQ:PCAR – Free Report) had its target price trimmed by Evercore ISI from $127.00 to $115.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

PCAR has been the topic of several other research reports. StockNews.com upgraded PACCAR from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. downgraded PACCAR from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Citigroup reduced their price objective on PACCAR from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Melius upgraded PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, March 18th. Finally, Royal Bank of Canada reduced their price objective 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. One analyst has rated the stock with a sell rating, nine have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PACCAR currently has an average rating of “Hold” and a consensus price target of $104.14.

View Our Latest Research Report on PACCAR

PACCAR Stock Performance

Shares of PCAR stock opened at $94.33 on Monday. The company has a market capitalization of $49.52 billion, a P/E ratio of 11.93, a P/E/G ratio of 2.77 and a beta of 0.96. The business’s 50 day moving average is $93.09 and its two-hundred day moving average is $103.70. The company has a current ratio of 2.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.56. PACCAR has a 12-month low of $84.65 and a 12-month high of $118.81.

PACCAR (NASDAQ:PCAR – Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.58 by ($0.12). The firm had revenue of $6.91 billion during the quarter, compared to analysts’ expectations of $7.13 billion. PACCAR had a net margin of 12.36% and a return on equity of 23.53%. The business’s revenue was down 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $2.27 EPS. Analysts expect that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.32 annualized dividend and a yield of 1.40%. PACCAR’s dividend payout ratio (DPR) is 20.00%.

Insiders Place Their Bets

In other news, Director Pierre R. Breber acquired 5,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was acquired 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 now owns 13,015 shares of the company’s stock, valued at $1,168,486.70. This represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.02% of the stock is owned by insiders.

Institutional Investors Weigh In On PACCAR

A number of institutional investors have recently modified their holdings of PCAR. Norges Bank acquired a new stake in shares of PACCAR in the fourth quarter valued at $526,922,000. Kovitz Investment Group Partners LLC grew its stake in PACCAR by 370.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company’s stock worth $557,453,000 after purchasing an additional 4,219,964 shares in the last quarter. Wellington Management Group LLP lifted its holdings in PACCAR by 20.1% during the 1st quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company’s stock worth $1,964,725,000 after buying an additional 3,379,165 shares during the last quarter. Madison Investment Advisors LLC purchased a new stake in PACCAR during the 4th quarter worth about $254,651,000. Finally, Pacer Advisors Inc. lifted its holdings in PACCAR by 2,957.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company’s stock worth $205,469,000 after buying an additional 2,041,168 shares during the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

About PACCAR

(Get Free Report)

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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