PACCAR Inc. (NASDAQ:PCAR) Receives $109.12 Consensus Target Price from Brokerages

by · The Cerbat Gem

Shares of PACCAR Inc. (NASDAQ:PCAR – Get Free Report) have received an average rating of “Moderate Buy” from the nineteen research firms that are covering the company, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $111.0385.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. upgraded PACCAR from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $108.00 to $133.00 in a research report on Friday. UBS Group set a $103.00 target price on PACCAR and gave the company a “neutral” rating in a research report on Wednesday, October 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research note on Friday, December 5th. Zacks Research upgraded PACCAR from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $90.00 price objective on shares of PACCAR in a research report on Tuesday, October 21st.

Get Our Latest Report on PCAR

Insiders Place Their Bets

In other PACCAR news, CFO Brice J. Poplawski sold 3,369 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $101.15, for a total transaction of $340,774.35. Following the transaction, the chief financial officer owned 468 shares in the company, valued at approximately $47,338.20. The trade was a 87.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of institutional investors have recently modified their holdings of the business. Private Wealth Management Group LLC raised its position in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares in the last quarter. Hazlett Burt & Watson Inc. grew its stake in shares of PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after purchasing an additional 100 shares during the period. Wealth Watch Advisors INC purchased a new position in shares of PACCAR in the 3rd quarter valued at about $32,000. AlphaQuest LLC purchased a new position in shares of PACCAR in the 3rd quarter valued at about $38,000. Finally, Bayforest Capital Ltd lifted its stake in shares of PACCAR by 234.2% in the first quarter. Bayforest Capital Ltd now owns 391 shares of the company’s stock valued at $38,000 after purchasing an additional 274 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

PACCAR Stock Up 0.1%

Shares of NASDAQ:PCAR opened at $111.57 on Wednesday. The firm has a 50 day simple moving average of $102.20 and a 200-day simple moving average of $98.99. PACCAR has a twelve month low of $84.65 and a twelve month high of $115.43. The company has a current ratio of 3.12, a quick ratio of 2.91 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $58.60 billion, a PE ratio of 21.83, a P/E/G ratio of 15.25 and a beta of 1.01.

PACCAR (NASDAQ:PCAR – Get Free Report) last posted its earnings results on Tuesday, October 21st. The company reported $1.12 EPS for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.02). PACCAR had a net margin of 9.11% and a return on equity of 16.01%. The company had revenue of $7.24 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same period last year, the business earned $1.85 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities analysts predict that PACCAR will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.2%. PACCAR’s dividend payout ratio (DPR) is presently 25.83%.

About PACCAR

(Get Free Report)

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.

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