PACCAR Inc (PCAR) Given Consensus Rating of “Hold” by Analysts
Shares of PACCAR Inc (NASDAQ:PCAR) have received an average recommendation of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $65.73.
Several brokerages have recently issued reports on PCAR. Zacks Investment Research downgraded PACCAR from a “buy” rating to a “hold” rating in a research report on Tuesday. BMO Capital Markets upped their price objective on PACCAR to $70.00 and gave the company a “market perform” rating in a research report on Friday, May 17th. BidaskClub downgraded PACCAR from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Longbow Research downgraded PACCAR from a “buy” rating to a “neutral” rating and set a $71.38 price objective on the stock. in a research report on Monday, May 6th.
Shares of NASDAQ:PCAR traded down $1.21 on Thursday, hitting $66.97. The company had a trading volume of 74,028 shares, compared to its average volume of 1,825,850. The company has a quick ratio of 2.32, a current ratio of 2.49 and a debt-to-equity ratio of 0.74. PACCAR has a 52-week low of $53.43 and a 52-week high of $73.00. The company has a market capitalization of $24.30 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.25 and a beta of 1.24.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Investors of record on Tuesday, May 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $1.28 annualized dividend and a yield of 1.91%. PACCAR’s dividend payout ratio (DPR) is presently 20.51%.
In related news, insider Darrin C. Siver sold 5,067 shares of the stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $70.10, for a total transaction of $355,196.70. Following the transaction, the insider now directly owns 23,193 shares in the company, valued at $1,625,829.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David J. Danforth sold 4,315 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $70.69, for a total value of $305,027.35. Following the transaction, the vice president now owns 7,286 shares in the company, valued at $515,047.34. The disclosure for this sale can be found here. Insiders have sold 22,301 shares of company stock worth $1,554,065 over the last quarter. 2.32% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC purchased a new position in shares of PACCAR in the 1st quarter worth about $29,000. Ameritas Investment Corp purchased a new position in shares of PACCAR in the 1st quarter worth about $30,000. Truvestments Capital LLC purchased a new position in shares of PACCAR in the 1st quarter worth about $42,000. Berman Capital Advisors LLC purchased a new position in shares of PACCAR in the 4th quarter worth about $43,000. Finally, Lindbrook Capital LLC purchased a new position in shares of PACCAR in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 61.15% 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, Europe, and internationally. The company operates in three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks that are used for the over-the-road and off-highway hauling of commercial and consumer goods.
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