PACCAR (NASDAQ:PCAR) Hits New 1-Year High at $82.62

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PACCAR Inc (NASDAQ:PCAR)’s share price hit a new 52-week high on Thursday . The stock traded as high as $82.62 and last traded at $82.61, with a volume of 11501 shares. The stock had previously closed at $81.40.

Several brokerages have recently weighed in on PCAR. Bank of America upgraded PACCAR from a “neutral” rating to a “buy” rating in a report on Thursday, November 14th. BidaskClub raised shares of PACCAR from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. ValuEngine raised shares of PACCAR from a “sell” rating to a “hold” rating in a research report on Tuesday, November 19th. OTR Global lowered shares of PACCAR from a “mixed” rating to a “negative” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Co lifted their price target on shares of PACCAR from $72.00 to $75.00 and gave the company a “market perform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. PACCAR presently has a consensus rating of “Hold” and a consensus target price of $73.05.

The company has a market cap of $28.04 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.69 and a beta of 1.26. The company has a quick ratio of 2.23, a current ratio of 2.39 and a debt-to-equity ratio of 0.67. The business has a 50-day simple moving average of $79.47 and a 200-day simple moving average of $71.43.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, October 22nd. The company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.64 by $0.11. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $5.97 billion. PACCAR had a return on equity of 26.11% and a net margin of 9.45%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.55 earnings per share. As a group, equities research analysts predict that PACCAR Inc will post 6.84 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 3rd. Shareholders of record on Tuesday, February 11th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date is Monday, February 10th. PACCAR’s payout ratio is 20.51%.

In other news, EVP Gary Lee Moore sold 39,695 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $75.81, for a total transaction of $3,009,277.95. Following the sale, the executive vice president now owns 34,553 shares of the company’s stock, valued at $2,619,462.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP T. Kyle Quinn sold 29,840 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $77.56, for a total value of $2,314,390.40. Following the sale, the vice president now directly owns 30,946 shares in the company, valued at approximately $2,400,171.76. The disclosure for this sale can be found here. Insiders have sold 106,949 shares of company stock worth $8,207,798 in the last ninety days. Corporate insiders own 2.32% of the company’s stock.

Several institutional investors have recently bought and sold shares of PCAR. KBC Group NV increased its position in shares of PACCAR by 54.5% during the second quarter. KBC Group NV now owns 278,626 shares of the company’s stock worth $19,966,000 after acquiring an additional 98,304 shares during the period. Enterprise Financial Services Corp boosted its stake in PACCAR by 76.8% in the second quarter. Enterprise Financial Services Corp now owns 488 shares of the company’s stock valued at $35,000 after acquiring an additional 212 shares in the last quarter. Aperio Group LLC boosted its stake in PACCAR by 9.4% in the second quarter. Aperio Group LLC now owns 255,283 shares of the company’s stock valued at $18,293,000 after acquiring an additional 21,869 shares in the last quarter. Janus Henderson Group PLC boosted its stake in PACCAR by 138.7% in the second quarter. Janus Henderson Group PLC now owns 289,116 shares of the company’s stock valued at $20,718,000 after acquiring an additional 168,004 shares in the last quarter. Finally, Westpac Banking Corp boosted its stake in PACCAR by 15.3% in the second quarter. Westpac Banking Corp now owns 220,419 shares of the company’s stock valued at $15,795,000 after acquiring an additional 29,200 shares in the last quarter. 63.64% of the stock is currently owned by institutional investors and hedge funds.

About PACCAR (NASDAQ:PCAR)

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.

Read More: Example of operating income, EBIT and EBITDA

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