Deutsche Bank began coverage on shares of PACCAR (NASDAQ:PCAR) in a research report report published on Tuesday, TipRanks reports. The brokerage issued a buy rating and a $91.00 price target on the stock.
Several other analysts have also commented on the stock. Vertical Research upgraded shares of PACCAR from a sell rating to a hold rating in a report on Monday, March 2nd. Piper Sandler lowered shares of PACCAR from an overweight rating to a neutral rating and raised their price objective for the stock from $66.00 to $73.00 in a report on Tuesday, May 12th. Cowen upgraded shares of PACCAR to a hold rating and set a $65.00 price objective for the company in a report on Tuesday, April 21st. Morgan Stanley raised their price objective on shares of PACCAR from $55.00 to $59.00 and gave the stock an underweight rating in a report on Wednesday, April 22nd. Finally, Citigroup lifted their target price on shares of PACCAR from $80.00 to $84.00 and gave the company a buy rating in a report on Thursday, June 18th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $75.87.
Shares of PCAR opened at $74.85 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.49 and a quick ratio of 2.32. PACCAR has a one year low of $49.11 and a one year high of $83.41. The company has a 50-day simple moving average of $72.60 and a two-hundred day simple moving average of $71.56. The firm has a market capitalization of $25.04 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 12th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Monday, May 11th. PACCAR’s dividend payout ratio (DPR) is currently 18.63%.
In related news, VP David J. Danforth sold 1,956 shares of the firm’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $66.36, for a total transaction of $129,800.16. Following the completion of the sale, the vice president now owns 8,004 shares of the company’s stock, valued at $531,145.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Douglas S. Grandstaff sold 1,431 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $70.00, for a total transaction of $100,170.00. Following the sale, the vice president now directly owns 6,921 shares of the company’s stock, valued at approximately $484,470. The disclosure for this sale can be found here. Insiders have sold 7,387 shares of company stock valued at $505,210 in the last three months. 2.18% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. FDx Advisors Inc. grew its position in PACCAR by 174.0% in the 1st quarter. FDx Advisors Inc. now owns 20,096 shares of the company’s stock worth $30,000 after purchasing an additional 12,761 shares during the period. MCF Advisors LLC bought a new stake in PACCAR in the 1st quarter worth approximately $46,000. Ellevest Inc. grew its position in PACCAR by 56.8% in the 1st quarter. Ellevest Inc. now owns 784 shares of the company’s stock worth $48,000 after purchasing an additional 284 shares during the period. Enterprise Financial Services Corp grew its position in PACCAR by 146.2% in the 1st quarter. Enterprise Financial Services Corp now owns 1,056 shares of the company’s stock worth $65,000 after purchasing an additional 627 shares during the period. Finally, CSat Investment Advisory L.P. grew its position in PACCAR by 15.6% in the 1st quarter. CSat Investment Advisory L.P. now owns 1,331 shares of the company’s stock worth $81,000 after purchasing an additional 180 shares during the period. 61.42% of the stock is owned by institutional investors and hedge funds.
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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