PACCAR Inc. (NASDAQ:PCAR) Given Average Recommendation of “Hold” by Brokerages

PACCAR Inc. (NASDAQ:PCAR) has been given an average recommendation of “Hold” by the seventeen brokerages that are presently covering the firm, Marketbeat reports. Twelve equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $117.00.

Several analysts have issued reports on PCAR shares. JPMorgan Chase & Co. upped their price target on shares of PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Morgan Stanley set a $109.00 price objective on shares of PACCAR and gave the company an “equal weight” rating in a research report on Tuesday, February 3rd. Truist Financial upped their target price on shares of PACCAR from $108.00 to $120.00 and gave the company a “hold” rating in a report on Wednesday, January 28th. Citigroup raised their target price on shares of PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Thursday, January 29th. Finally, BNP Paribas Exane began coverage on PACCAR in a research note on Tuesday. They set a “neutral” rating and a $126.00 target price for the company.

PACCAR Stock Performance

Shares of PACCAR stock opened at $118.32 on Friday. PACCAR has a 12-month low of $84.65 and a 12-month high of $131.88. The stock has a market cap of $62.27 billion, a P/E ratio of 26.24, a P/E/G ratio of 0.99 and a beta of 1.06. The company has a quick ratio of 2.79, a current ratio of 2.98 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $121.55 and its 200-day moving average is $110.67.

PACCAR (NASDAQ:PCAR) last released 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 company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.06 billion. During the same quarter in the prior year, the firm posted $1.66 EPS. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. Equities research analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Activity at PACCAR

In other PACCAR news, CEO R Preston Feight sold 9,258 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $129.70, for a total value of $1,200,762.60. Following the transaction, the chief executive officer directly owned 258,566 shares of the company’s stock, valued at $33,536,010.20. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kevin D. Baney sold 9,672 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $126.53, for a total transaction of $1,223,798.16. Following the sale, the executive vice president owned 12,592 shares of the company’s stock, valued at $1,593,265.76. This trade represents a 43.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 133,105 shares of company stock worth $16,869,046 in the last quarter. 2.02% of the stock is owned by corporate insiders.

Institutional Trading of PACCAR

Several hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System boosted its stake in shares of PACCAR by 0.8% in the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock valued at $105,725,000 after buying an additional 9,045 shares during the period. JT Stratford LLC acquired a new stake in PACCAR during the second quarter worth approximately $1,301,000. National Pension Service increased its stake in PACCAR by 5.5% during the 3rd quarter. National Pension Service now owns 939,146 shares of the company’s stock worth $92,337,000 after acquiring an additional 48,711 shares during the period. AE Wealth Management LLC raised its holdings in PACCAR by 29.1% in the 3rd quarter. AE Wealth Management LLC now owns 39,594 shares of the company’s stock valued at $3,893,000 after acquiring an additional 8,932 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in PACCAR by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 63,111,444 shares of the company’s stock valued at $6,205,117,000 after acquiring an additional 485,678 shares in the last quarter. 64.90% of the stock is owned by institutional investors and hedge funds.

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.