Analysts Set PACCAR Inc (NASDAQ:PCAR) PT at $121.23

PACCAR Inc (NASDAQ:PCAR) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $121.32.

A number of equities analysts recently issued reports on the company. Truist Financial lifted their target price on PACCAR from $112.00 to $113.00 and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley dropped their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $119.00 price target on shares of PACCAR in a research report on Monday, November 4th. Citigroup dropped their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 14th. Finally, BNP Paribas raised PACCAR to a “hold” rating in a research report on Wednesday, October 16th.

PACCAR Stock Performance

Shares of NASDAQ PCAR opened at $112.51 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $58.99 billion, a price-to-earnings ratio of 12.57, a PEG ratio of 2.77 and a beta of 0.93. The stock’s fifty day simple moving average is $110.47 and its 200 day simple moving average is $104.49. PACCAR has a 52-week low of $90.04 and a 52-week high of $125.50.

PACCAR (NASDAQ:PCAR) last issued its earnings results on Tuesday, January 28th. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.70 by ($0.04). PACCAR had a return on equity of 27.24% and a net margin of 13.51%. As a group, sell-side analysts forecast that PACCAR will post 7.93 earnings per share for the current fiscal year.

PACCAR Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $3.00 dividend. The ex-dividend date was Friday, December 20th. This is an increase from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is 16.69%.

Institutional Trading of PACCAR

Several large investors have recently made changes to their positions in the stock. Principal Securities Inc. boosted its stake in shares of PACCAR by 10.9% during the 4th quarter. Principal Securities Inc. now owns 8,918 shares of the company’s stock worth $928,000 after acquiring an additional 873 shares in the last quarter. WealthPlan Investment Management LLC bought a new stake in shares of PACCAR during the 4th quarter worth about $235,000. ABC Arbitrage SA bought a new stake in shares of PACCAR during the 4th quarter worth about $1,484,000. V Square Quantitative Management LLC boosted its stake in shares of PACCAR by 14.0% during the 4th quarter. V Square Quantitative Management LLC now owns 3,820 shares of the company’s stock worth $397,000 after acquiring an additional 470 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of PACCAR by 2.5% during the 4th quarter. Vontobel Holding Ltd. now owns 109,468 shares of the company’s stock worth $11,387,000 after acquiring an additional 2,679 shares in the last quarter. Institutional investors own 64.90% of the company’s stock.

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.