PACCAR (NASDAQ:PCAR) Upgraded to “Hold” by BNP Paribas

BNP Paribas upgraded shares of PACCAR (NASDAQ:PCAR) to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

Several other analysts have also issued reports on the stock. StockNews.com upgraded shares of PACCAR from a “hold” rating to a “buy” rating in a report on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of PACCAR from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup boosted their target price on PACCAR from $100.00 to $108.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Evercore ISI lowered their price target on PACCAR from $109.00 to $99.00 and set an “in-line” rating for the company in a research report on Monday, August 19th. Finally, Raymond James began coverage on PACCAR in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $114.00.

PACCAR Price Performance

PACCAR stock opened at $107.56 on Wednesday. The company has a current ratio of 2.78, a quick ratio of 2.54 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $97.84 and a 200 day moving average price of $103.94. PACCAR has a 12-month low of $80.94 and a 12-month high of $125.50. The stock has a market cap of $56.38 billion, a P/E ratio of 11.16, a PEG ratio of 1.61 and a beta of 0.91.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.01). The business had revenue of $8.26 billion during the quarter, compared to analyst estimates of $8.30 billion. PACCAR had a net margin of 14.07% and a return on equity of 29.87%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. Sell-side analysts anticipate that PACCAR will post 8.08 earnings per share for the current year.

PACCAR Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Investors of record on Wednesday, November 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PACCAR’s dividend payout ratio is currently 12.45%.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,834 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $98.70, for a total value of $2,747,215.80. Following the transaction, the chief executive officer now owns 162,782 shares in the company, valued at approximately $16,066,583.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.02% of the company’s stock.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Net Worth Advisory Group acquired a new stake in shares of PACCAR during the third quarter worth about $1,531,000. Stratos Wealth Advisors LLC grew its stake in PACCAR by 3.8% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 4,245 shares of the company’s stock worth $419,000 after buying an additional 155 shares during the last quarter. Inspire Advisors LLC increased its position in PACCAR by 18.8% during the third quarter. Inspire Advisors LLC now owns 5,516 shares of the company’s stock worth $544,000 after buying an additional 874 shares during the period. Aaron Wealth Advisors LLC increased its position in PACCAR by 72.2% during the third quarter. Aaron Wealth Advisors LLC now owns 5,128 shares of the company’s stock worth $506,000 after buying an additional 2,150 shares during the period. Finally, V Square Quantitative Management LLC lifted its stake in PACCAR by 66.9% in the third quarter. V Square Quantitative Management LLC now owns 3,350 shares of the company’s stock valued at $331,000 after buying an additional 1,343 shares during the last quarter. 64.90% of the stock is currently owned by institutional investors and hedge funds.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.