PACCAR (NASDAQ:PCAR) Price Target Raised to $120.00

PACCAR (NASDAQ:PCARFree Report) had its target price hoisted by Truist Financial from $108.00 to $120.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also recently issued reports on PCAR. Sanford C. Bernstein reissued an “outperform” rating and set a $125.00 price target on shares of PACCAR in a research report on Friday, December 5th. Wolfe Research raised shares of PACCAR from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, October 22nd. Morgan Stanley lifted their target price on shares of PACCAR from $93.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Weiss Ratings cut PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. Finally, Wall Street Zen lowered PACCAR from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, PACCAR has a consensus rating of “Hold” and a consensus price target of $115.92.

View Our Latest Report on PCAR

PACCAR Trading Down 0.3%

NASDAQ PCAR opened at $122.91 on Wednesday. The firm has a market capitalization of $64.55 billion, a PE ratio of 27.25, a P/E/G ratio of 0.99 and a beta of 1.01. The stock’s 50 day moving average is $113.86 and its 200 day moving average is $103.69. PACCAR has a twelve month low of $84.65 and a twelve month high of $125.36. The company has a quick ratio of 2.91, a current ratio of 1.70 and a debt-to-equity ratio of 0.56.

PACCAR (NASDAQ:PCARGet Free Report) last announced its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 EPS for the quarter, meeting the consensus estimate of $1.06. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The business had revenue of $4.61 billion during the quarter, compared to analyst estimates of $6.06 billion. During the same quarter last year, the firm posted $1.66 earnings per share. The company’s revenue for the quarter was down 15.1% on a year-over-year basis. Research analysts forecast that PACCAR will post 7.57 earnings per share for the current fiscal year.

PACCAR Cuts Dividend

The firm 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 of this dividend is Wednesday, February 11th. This represents a $1.32 annualized dividend and a yield of 1.1%. PACCAR’s dividend payout ratio is 29.27%.

Institutional Trading of PACCAR

A number of institutional investors and hedge funds have recently modified their holdings of PCAR. JT Stratford LLC bought a new stake in PACCAR during the 2nd quarter valued at approximately $1,301,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in PACCAR by 77.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 238,074 shares of the company’s stock worth $22,631,000 after purchasing an additional 103,664 shares during the period. Endeavor Private Wealth Inc. purchased a new stake in PACCAR during the 3rd quarter valued at approximately $3,817,000. Robeco Institutional Asset Management B.V. raised its position in shares of PACCAR by 77.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 228,946 shares of the company’s stock valued at $22,510,000 after buying an additional 100,285 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of PACCAR by 8.3% in the third quarter. Nordea Investment Management AB now owns 108,783 shares of the company’s stock worth $10,770,000 after buying an additional 8,303 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

PACCAR News Summary

Here are the key news stories impacting PACCAR this week:

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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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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