PACCAR Inc. (NASDAQ:PCAR) Stock Has Consensus Price Target of $131.96 According to Brokerages

Shares of PACCAR Inc. (NASDAQ:PCAR) have earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $131.96.

PCAR has been the topic of several recent research reports. Freedom Broker raised shares of PACCAR from a “hold” rating to a “buy” rating and lowered their price target for the company from $132.00 to $120.00 in a report on Friday, October 30th. Citigroup dropped their target price on PACCAR from $140.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, October 12th. Evercore lifted their price target on PACCAR from $139.00 to $162.00 and gave the company an “outperform” rating in a research report on Thursday, October 8th. Truist Financial dropped their price objective on shares of PACCAR from $125.00 to $124.00 and set a “hold” rating on the stock in a research note on Wednesday, October 28th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $148.00 target price (up from $142.00) on shares of PACCAR in a research note on Wednesday, July 29th.

Hedge Funds Weigh In On PACCAR

Large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of PACCAR in the second quarter valued at approximately $4,927,720,000. Bank of America Corp DE purchased a new position in shares of PACCAR during the 2nd quarter valued at approximately $1,130,496,000. Bank of New York Mellon Corp purchased a new stake in PACCAR in the 2nd quarter worth $453,107,000. Aberdeen Group plc raised its position in PACCAR by 396.5% during the third quarter. Aberdeen Group plc now owns 3,559,353 shares of the company’s stock worth $390,853,000 after acquiring an additional 2,842,450 shares during the period. Finally, Legal & General Group Plc purchased a new position in PACCAR during the second quarter valued at $335,776,000. Institutional investors and hedge funds own 64.90% of the company’s stock.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $105.73 on Friday. PACCAR has a 52 week low of $93.86 and a 52 week high of $139.24. The company has a quick ratio of 2.98, a current ratio of 3.22 and a debt-to-equity ratio of 0.50. The firm has a market cap of $55.67 billion, a P/E ratio of 20.22, a P/E/G ratio of 1.36 and a beta of 0.96. The business’s 50 day moving average price is $111.86 and its 200 day moving average price is $119.65.

PACCAR (NASDAQ:PCAR) last announced its quarterly earnings data on Tuesday, October 27th. The company reported $1.61 EPS for the quarter, meeting the consensus estimate of $1.61. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $7.48 billion. PACCAR had a net margin of 9.50% and a return on equity of 13.76%. The business’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.12 EPS. On average, sell-side analysts expect that PACCAR will post 5.84 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Wednesday, November 11th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $1.40 dividend on an annualized basis and a yield of 1.3%. PACCAR’s payout ratio is presently 26.67%.

About PACCAR

PACCAR Inc is a global manufacturer of commercial trucks and a provider of related products and services. Its truck brands include Kenworth and Peterbilt in North America and DAF in Europe. The company also manufactures engines and supplies replacement parts and aftermarket support for its vehicles.

PACCAR serves customers through manufacturing, sales and service operations across North America, Europe and other international markets. Its businesses also include PACCAR Financial, which provides financing and leasing solutions to truck customers and dealers.

Founded in 1905 as Seattle Car Manufacturing Company, the business later became Pacific Car and Foundry before adopting the PACCAR name in 1972.