PACCAR (NASDAQ:PCAR) Upgraded by Melius to Buy Rating

by · The Markets Daily

Melius upgraded shares of PACCAR (NASDAQ:PCAR – Free Report) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat.com reports.

PCAR has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their target price on PACCAR from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Truist Financial boosted their price target on PACCAR from $112.00 to $113.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Evercore ISI dropped their price target on PACCAR from $129.00 to $127.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group cut PACCAR from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.23.

Check Out Our Latest Report on PACCAR

PACCAR Stock Down 1.3 %

PCAR opened at $98.32 on Tuesday. The business’s 50-day simple moving average is $106.48 and its 200-day simple moving average is $106.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a one year low of $90.04 and a one year high of $125.50. The stock has a market capitalization of $51.60 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 2.77 and a beta of 0.91.

PACCAR (NASDAQ:PCAR – Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 23.53% and a net margin of 12.36%. Analysts anticipate that PACCAR will post 7.57 EPS for the current year.

PACCAR Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.33 per share. This is a boost from PACCAR’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, February 12th. This represents a $1.32 annualized dividend and a yield of 1.34%. PACCAR’s payout ratio is presently 16.69%.

Insiders Place Their Bets

In other news, CEO R Preston Feight sold 25,200 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $110.98, for a total transaction of $2,796,696.00. Following the sale, the chief executive officer now owns 206,129 shares of the company’s stock, valued at $22,876,196.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $112.05, for a total value of $224,100.00. Following the sale, the vice president now directly owns 5,463 shares in the company, valued at $612,129.15. This trade represents a 26.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,547 shares of company stock worth $18,261,908. Company insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Institutional investors have recently modified their holdings of the company. Everence Capital Management Inc. purchased a new stake in shares of PACCAR during the 4th quarter worth approximately $1,984,000. Cullen Frost Bankers Inc. lifted its stake in PACCAR by 8.2% in the 4th quarter. Cullen Frost Bankers Inc. now owns 85,719 shares of the company’s stock valued at $8,916,000 after buying an additional 6,494 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in PACCAR by 24.3% in the 3rd quarter. Sanctuary Advisors LLC now owns 30,016 shares of the company’s stock valued at $2,962,000 after buying an additional 5,871 shares in the last quarter. Insight Wealth Strategies LLC lifted its stake in PACCAR by 21.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 39,041 shares of the company’s stock valued at $4,061,000 after buying an additional 6,936 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in PACCAR by 1.8% in the 3rd quarter. Fisher Asset Management LLC now owns 5,180,925 shares of the company’s stock valued at $511,254,000 after buying an additional 89,245 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

(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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