Wells Fargo & Company Issues Positive Forecast for PACCAR (NASDAQ:PCAR) Stock Price

PACCAR (NASDAQ:PCAR) had its price target hoisted by Wells Fargo & Company from $125.00 to $157.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other research firms have also recently issued reports on PCAR. Morgan Stanley set a $119.00 target price on PACCAR in a research note on Wednesday. Truist Financial raised their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, July 2nd. JPMorgan Chase & Co. lifted their price objective on PACCAR from $155.00 to $164.00 and gave the company an “overweight” rating in a report on Wednesday. Evercore set a $139.00 price objective on PACCAR in a research report on Monday, May 11th. Finally, Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 21st. Three equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $131.70.

PACCAR Price Performance

Shares of PCAR stock opened at $133.76 on Thursday. The company has a quick ratio of 2.91, a current ratio of 1.82 and a debt-to-equity ratio of 0.52. PACCAR has a 12-month low of $92.25 and a 12-month high of $139.24. The firm has a fifty day moving average of $120.95 and a 200-day moving average of $120.78. The firm has a market capitalization of $70.40 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 1.23 and a beta of 0.97.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, July 28th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.36 by $0.07. The business had revenue of $7.55 billion for the quarter, compared to the consensus estimate of $7.05 billion. PACCAR had a return on equity of 12.73% and a net margin of 9.00%.The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $1.37 EPS. On average, equities research analysts forecast that PACCAR will post 5.66 earnings per share for the current year.

PACCAR Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 12th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, August 12th. This represents a $1.40 annualized dividend and a yield of 1.0%. PACCAR’s payout ratio is presently 29.79%.

Institutional Trading of PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. Tema ETFs LLC boosted its holdings in PACCAR by 9.4% during the second quarter. Tema ETFs LLC now owns 8,429 shares of the company’s stock worth $1,012,000 after purchasing an additional 725 shares during the last quarter. Allied Private Wealth LLC acquired a new stake in PACCAR in the 2nd quarter valued at $37,000. Valeo Financial Advisors LLC lifted its position in PACCAR by 5.1% during the 2nd quarter. Valeo Financial Advisors LLC now owns 4,406 shares of the company’s stock worth $529,000 after buying an additional 212 shares in the last quarter. Czech National Bank lifted its position in PACCAR by 4.7% during the 2nd quarter. Czech National Bank now owns 149,801 shares of the company’s stock worth $17,994,000 after buying an additional 6,711 shares in the last quarter. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of PACCAR by 10.9% during the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 75,480 shares of the company’s stock worth $9,067,000 after buying an additional 7,400 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting PACCAR

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: PACCAR’s second-quarter results exceeded expectations, with earnings per share of $1.43 versus the $1.36 consensus estimate and revenue of $7.55 billion compared with expectations of $7.05 billion. Revenue increased slightly year over year, while margin gains and record parts revenue reinforced the company’s earnings quality. Why PACCAR Is Up After Q2 Margin Gains and Record Parts Revenue
• Positive Sentiment: Management’s earnings-call commentary highlighted stable truck demand, regulatory clarity and continued strategic investments, supporting expectations for relatively resilient margins and a firm outlook. PACCAR Earnings Call Highlights Strong Momentum
• Positive Sentiment: JPMorgan raised its PACCAR price target from $155 to $164 and maintained an “overweight” rating, indicating confidence that earnings strength can support additional appreciation. JPMorgan Raises PACCAR Price Target
• Positive Sentiment: Wells Fargo increased its target from $125 to $157, while Citigroup raised its target from $125 to $140. These revisions suggest analysts see improved fundamentals, even though both firms retained neutral-style ratings. Analyst Price Target Revisions
• Neutral Sentiment: Analysts continue to assign an average “hold” rating to PACCAR. The cautious consensus, combined with Citigroup’s “neutral” and Wells Fargo’s “equal weight” ratings, indicates that valuation and the already-strong share performance remain areas of investor concern. PACCAR Receives Average Hold Rating

PACCAR Company Profile

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.