PACCAR (NASDAQ:PCAR) Sets New 12-Month High – Still a Buy?

PACCAR Inc. (NASDAQ:PCAR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $127.52 and last traded at $126.9050, with a volume of 193029 shares traded. The stock had previously closed at $124.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Jefferies Financial Group reissued a “hold” rating and set a $90.00 price target on shares of PACCAR in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on PACCAR from $133.00 to $142.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Citigroup lifted their price objective on PACCAR from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Thursday, January 29th. Wells Fargo & Company set a $119.00 target price on shares of PACCAR and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of PACCAR in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PACCAR presently has an average rating of “Hold” and a consensus price target of $116.50.

PACCAR Price Performance

The company has a current ratio of 1.70, a quick ratio of 1.42 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $115.24 and its 200-day moving average price is $104.43. The stock has a market capitalization of $67.36 billion, a PE ratio of 28.42, a PEG ratio of 1.07 and a beta of 1.03.

PACCAR (NASDAQ:PCAR) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $1.06 earnings per share for the quarter, hitting the consensus estimate of $1.06. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $6.06 billion. PACCAR had a return on equity of 13.97% and a net margin of 8.35%.The firm’s revenue for the quarter was down 15.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.66 earnings per share. On average, equities analysts forecast that PACCAR Inc. will post 7.57 EPS for the current fiscal year.

PACCAR Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 11th will be given a $0.33 dividend. The ex-dividend date is Wednesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.0%. PACCAR’s dividend payout ratio (DPR) is currently 29.27%.

Insider Buying and Selling at PACCAR

In other news, EVP C Michael Dozier sold 79,076 shares of the stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $127.92, for a total value of $10,115,401.92. Following the sale, the executive vice president directly owned 34,656 shares in the company, valued at approximately $4,433,195.52. This represents a 69.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Paulo Henrique Bolgar sold 12,183 shares of PACCAR stock in a transaction on Friday, January 30th. The stock was sold at an average price of $122.43, for a total value of $1,491,564.69. Following the sale, the vice president owned 6,274 shares of the company’s stock, valued at approximately $768,125.82. This trade represents a 66.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 121,647 shares of company stock valued at $15,381,381. Insiders own 2.02% of the company’s stock.

Institutional Trading of PACCAR

A number of large investors have recently modified their holdings of PCAR. Ares Financial Consulting LLC purchased a new stake in shares of PACCAR in the 4th quarter worth $27,000. Private Wealth Management Group LLC lifted its stake in PACCAR by 293.1% in the third quarter. Private Wealth Management Group LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 211 shares during the period. Hazlett Burt & Watson Inc. grew its holdings in PACCAR by 53.8% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Camelot Portfolios LLC purchased a new position in PACCAR during the 4th quarter valued at about $33,000. Finally, Wealth Watch Advisors INC purchased a new position in PACCAR during the third quarter valued at approximately $32,000. Hedge funds and other institutional investors own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.