PACCAR Inc (NASDAQ:PCAR) Receives $85.57 Consensus PT from Analysts

Shares of PACCAR Inc (NASDAQ:PCAR) have been assigned an average recommendation of “Hold” from the twenty-one analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $85.57.

PCAR has been the subject of a number of analyst reports. Cowen raised shares of PACCAR to a “hold” rating and upped their price objective for the company from $65.00 to $83.00 in a report on Wednesday, July 29th. Credit Suisse Group lifted their price target on shares of PACCAR from $72.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on PACCAR from $80.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Deutsche Bank increased their price target on PACCAR from $95.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, ValuEngine upgraded shares of PACCAR from a “sell” rating to a “hold” rating in a report on Thursday, June 25th.

In other PACCAR news, CFO Harrie Schippers sold 4,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $86.04, for a total transaction of $344,160.00. Following the completion of the transaction, the chief financial officer now owns 41,515 shares in the company, valued at approximately $3,571,950.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Todd R. Hubbard sold 7,416 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $85.90, for a total transaction of $637,034.40. Following the completion of the sale, the vice president now owns 9,430 shares of the company’s stock, valued at approximately $810,037. The disclosure for this sale can be found here. In the last three months, insiders sold 26,888 shares of company stock worth $2,300,018. Corporate insiders own 2.18% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Bessemer Group Inc. lifted its holdings in shares of PACCAR by 19.8% in the 1st quarter. Bessemer Group Inc. now owns 2,251 shares of the company’s stock valued at $138,000 after buying an additional 372 shares during the period. Public Employees Retirement Association of Colorado grew its stake in shares of PACCAR by 1.9% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 64,524 shares of the company’s stock worth $3,944,000 after purchasing an additional 1,224 shares during the period. Natixis Advisors L.P. increased its holdings in shares of PACCAR by 66.8% in the 1st quarter. Natixis Advisors L.P. now owns 48,972 shares of the company’s stock valued at $2,994,000 after purchasing an additional 19,604 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of PACCAR by 8.6% in the 1st quarter. Teacher Retirement System of Texas now owns 99,501 shares of the company’s stock valued at $6,082,000 after purchasing an additional 7,869 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in shares of PACCAR in the first quarter valued at about $134,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.

Shares of PCAR stock traded up $0.65 during trading hours on Wednesday, reaching $86.42. The company had a trading volume of 1,269,294 shares, compared to its average volume of 2,018,704. PACCAR has a 12-month low of $49.11 and a 12-month high of $91.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.32 and a current ratio of 2.48. The company has a market capitalization of $29.91 billion, a price-to-earnings ratio of 18.23, a PEG ratio of 2.52 and a beta of 1.11. The stock has a fifty day moving average of $86.67 and a 200-day moving average of $74.03.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, July 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.12. PACCAR had a return on equity of 16.85% and a net margin of 7.95%. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.88 billion. During the same period in the prior year, the business earned $1.78 EPS. The firm’s quarterly revenue was down 56.9% on a year-over-year basis. On average, analysts forecast that PACCAR will post 3.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, November 9th. This represents a $1.28 dividend on an annualized basis and a yield of 1.48%. PACCAR’s payout ratio is 18.63%.

PACCAR Company Profile

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.

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Analyst Recommendations for PACCAR (NASDAQ:PCAR)

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