PACCAR Inc (NASDAQ: PCAR) stock jumped 3.11% on Thursday to $85.87 against a previous-day closing price of $83.28. With 2.13 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.46 million shares. During the session, the Farm & Heavy Construction Machinery company that operates in wider Industrials sector, reached to the highest price of $85.98 whereas the lowest price it dropped to was $83.68. The 52-week range on PCAR shows that it touched its highest point at $90.05 and its lowest point at $53.15 during that stretch. It currently has a 1-year price target of $90.26. With its current market cap of 44.12 billion, PCAR has annualized dividend of $1.08 while the current yield stands at 1.26%. Beta for the stock currently stands at 0.96.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PCAR was up-trending over the past week, with a rise of 3.40%, but this was up by 0.94% over a month. Three-month performance surged to 10.01% while six-month performance rose 21.47%. The stock gained 53.86% in the past year, while it has gained 30.15% so far this year. A look at the trailing 12-month EPS for PCAR yields 5.13 with Next year EPS estimates of 6.88. For the next quarter, that number is 2.12. This implies an EPS growth rate of 61.20% for this year and -19.30% for next year. EPS is expected to grow by 6.76% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 6.20%.
Float and Shares Shorts:
At present, 785.70 million PCAR shares are outstanding with a float of 513.55 million shares on hand for trading. On Aug 30, 2023, short shares totaled 7.13 million, which was 1.36% higher than short shares on Jul 30, 2023. In addition to Mr. R. Preston Feight as the firm’s CEO & Director, Mr. Harrie C. A. M. Schippers serves as its Pres & CFO.
Institutional Ownership:
Through their ownership of 70.50% of PCAR’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 5.95% of PCAR, in contrast to 39.02% held by mutual funds. Shares owned by individuals account for 29.02%. As the largest shareholder in PCAR with 11.57% of the stake, The Vanguard Group, Inc. holds 60,480,620 shares worth 60,480,620. A second-largest stockholder of PCAR, BlackRock Fund Advisors, holds 24,988,871 shares, controlling over 4.78% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in PCAR, holding 21,303,419 shares or 4.08% stake. With a 3.12% stake in PCAR, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 16,279,651 shares are owned by the mutual fund manager. The Vanguard 500 Index Fund, which owns about 2.40% of PCAR stock, is the second-largest Mutual Fund holder. It holds 12,518,339 shares valued at 1.08 billion. Vanguard Mid Cap Index Fund holds 2.31% of the stake in PCAR, owning 12,093,701 shares worth 1.04 billion.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, PCAR reported revenue of $7.16B and operating income of $894.30M. The EBITDA in the recently reported quarter was $1.09B and diluted EPS was $1.37.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PCAR since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PCAR analysts setting a high price target of $115.00 and a low target of $78.00, the average target price over the next 12 months is $90.41. Based on these targets, PCAR could surge 33.92% to reach the target high and fall by -9.17% to reach the target low. Reaching the average price target will result in a growth of 5.29% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded PCAR stock several times over the past three months with 4 Buys and 4 Sells. In these transactions, 142,059 shares were bought while 142,059 shares were sold. The number of buy transactions has increased to 73 while that of sell transactions has risen to 34 over the past year. The total number of shares bought during that period was 562,968 while 460,160 shares were sold.
