PACCAR (NASDAQ:PCAR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of PACCAR (NASDAQ:PCAR) from a buy rating to a hold rating in a report published on Thursday morning.

Several other equities research analysts have also commented on PCAR. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They issued a sector perform rating and a $123.00 price objective for the company. The Goldman Sachs Group raised their price objective on PACCAR from $106.00 to $121.00 and gave the company a neutral rating in a research report on Tuesday, April 16th. UBS Group upgraded PACCAR from a neutral rating to a buy rating and raised their price objective for the company from $104.00 to $136.00 in a research report on Friday, March 15th. Truist Financial reaffirmed a hold rating and issued a $121.00 price target (up previously from $117.00) on shares of PACCAR in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. decreased their price target on shares of PACCAR from $140.00 to $130.00 and set an overweight rating for the company in a research note on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $114.38.

PACCAR Price Performance

NASDAQ PCAR opened at $102.94 on Thursday. The business’s fifty day moving average price is $107.60 and its 200-day moving average price is $107.70. The stock has a market capitalization of $53.96 billion, a price-to-earnings ratio of 10.68, a PEG ratio of 1.59 and a beta of 0.94. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.73 and a quick ratio of 2.49. PACCAR has a 1-year low of $80.64 and a 1-year high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings results on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.07. The firm had revenue of $8.24 billion for the quarter, compared to analysts’ expectations of $8.25 billion. PACCAR had a return on equity of 31.71% and a net margin of 14.30%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.25 EPS. On average, equities analysts predict that PACCAR will post 8.36 earnings per share for the current year.

PACCAR Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 5th. Stockholders of record on Wednesday, May 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This is a positive change from PACCAR’s previous quarterly dividend of $0.27. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PACCAR’s payout ratio is 12.45%.

Insider Activity

In other news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Brice J. Poplawski sold 2,067 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $109.40, for a total transaction of $226,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO R Preston Feight sold 33,850 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $106.18, for a total transaction of $3,594,193.00. Following the transaction, the chief executive officer now owns 154,430 shares of the company’s stock, valued at $16,397,377.40. The disclosure for this sale can be found here. Insiders have sold 45,040 shares of company stock valued at $4,779,241 over the last ninety days. 2.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LPL Financial LLC increased its stake in shares of PACCAR by 18.5% during the third quarter. LPL Financial LLC now owns 208,113 shares of the company’s stock worth $17,694,000 after purchasing an additional 32,563 shares in the last quarter. Federated Hermes Inc. grew its stake in PACCAR by 51.6% during the 3rd quarter. Federated Hermes Inc. now owns 3,833 shares of the company’s stock valued at $326,000 after acquiring an additional 1,305 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in PACCAR by 27.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 46,605 shares of the company’s stock valued at $3,962,000 after acquiring an additional 9,949 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in PACCAR during the 3rd quarter valued at about $10,949,000. Finally, Bank of Nova Scotia grew its stake in PACCAR by 10.9% during the 3rd quarter. Bank of Nova Scotia now owns 56,414 shares of the company’s stock valued at $4,796,000 after acquiring an additional 5,557 shares in the last quarter. Institutional investors and hedge funds 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.