PACCAR (NASDAQ:PCAR) Announces Earnings Results

PACCAR (NASDAQ:PCAR) announced its quarterly earnings results on Tuesday. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.70 by ($0.04), Zacks reports. PACCAR had a return on equity of 27.24% and a net margin of 13.51%.

PACCAR Price Performance

Shares of NASDAQ:PCAR opened at $109.11 on Tuesday. PACCAR has a fifty-two week low of $90.04 and a fifty-two week high of $125.50. The business has a 50-day moving average of $110.55 and a two-hundred day moving average of $104.37. The stock has a market capitalization of $57.21 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.77 and a beta of 0.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 1.03.

PACCAR Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were given a $3.00 dividend. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from PACCAR’s previous dividend of $0.89. PACCAR’s payout ratio is currently 13.41%.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 27,191 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $103.52, for a total value of $2,814,812.32. Following the completion of the sale, the chief executive officer now owns 171,776 shares of the company’s stock, valued at $17,782,251.52. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCAR shares. Morgan Stanley cut their price target on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Evercore ISI upgraded PACCAR from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $99.00 to $129.00 in a research report on Wednesday, November 13th. Royal Bank of Canada restated a “sector perform” rating and issued a $119.00 target price on shares of PACCAR in a report on Monday, November 4th. Citigroup decreased their target price on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Finally, Truist Financial raised their target price on PACCAR from $110.00 to $112.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.23.

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.