PACCAR (NASDAQ:PCAR) Earns Sector Perform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of PACCAR (NASDAQ:PCAR) in a research report report published on Tuesday morning, Marketbeat reports. The firm issued a sector perform rating and a $123.00 target price on the stock.

Several other equities analysts have also commented on PCAR. Morgan Stanley assumed coverage on shares of PACCAR in a research report on Monday, January 8th. They set an overweight rating and a $125.00 price objective for the company. TD Cowen increased their price objective on shares of PACCAR from $91.00 to $108.00 and gave the company a market perform rating in a research report on Wednesday, January 24th. Bank of America upgraded shares of PACCAR from an underperform rating to a neutral rating and increased their price objective for the company from $84.00 to $97.00 in a research report on Friday, January 19th. JPMorgan Chase & Co. raised their target price on shares of PACCAR from $116.00 to $135.00 and gave the stock an overweight rating in a report on Tuesday, March 5th. Finally, UBS Group upgraded shares of PACCAR from a neutral rating to a buy rating and raised their target price for the stock from $104.00 to $136.00 in a report on Friday, March 15th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $109.39.

PACCAR Trading Down 0.5 %

Shares of NASDAQ PCAR opened at $123.89 on Tuesday. The company has a market cap of $64.92 billion, a PE ratio of 14.13, a P/E/G ratio of 1.92 and a beta of 0.91. The firm’s 50 day moving average price is $109.94 and its 200-day moving average price is $96.87. PACCAR has a 52-week low of $67.48 and a 52-week high of $125.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 EPS for the quarter, beating analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business had revenue of $8.59 billion during the quarter, compared to analysts’ expectations of $8.48 billion. During the same period in the prior year, the company earned $1.76 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. On average, equities research analysts expect that PACCAR will post 8.13 EPS for the current fiscal year.

PACCAR Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 14th. PACCAR’s dividend payout ratio (DPR) is 12.31%.

Insider Activity

In other news, SVP Kevin D. Baney sold 7,203 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $103.03, for a total value of $742,125.09. Following the completion of the sale, the senior vice president now directly owns 6,621 shares in the company, valued at $682,161.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Todd R. Hubbard sold 2,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin D. Baney sold 7,203 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $103.03, for a total transaction of $742,125.09. Following the sale, the senior vice president now owns 6,621 shares of the company’s stock, valued at $682,161.63. The disclosure for this sale can be found here. Insiders sold 153,496 shares of company stock worth $15,834,812 over the last three months. Insiders own 2.02% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. HighPoint Advisor Group LLC purchased a new position in PACCAR during the fourth quarter worth about $1,203,000. Wahed Invest LLC lifted its stake in PACCAR by 8.5% in the fourth quarter. Wahed Invest LLC now owns 8,751 shares of the company’s stock worth $855,000 after acquiring an additional 683 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in PACCAR in the fourth quarter worth approximately $51,000. SageView Advisory Group LLC acquired a new stake in PACCAR during the fourth quarter worth approximately $320,000. Finally, Fisher Asset Management LLC raised its holdings in PACCAR by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 4,910,042 shares of the company’s stock worth $479,466,000 after purchasing an additional 83,444 shares in the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

PACCAR Company Profile

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.