PACCAR (NASDAQ:PCAR) Research Coverage Started at Royal Bank of Canada

Stock analysts at Royal Bank of Canada started coverage on shares of PACCAR (NASDAQ:PCAR) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a “sector perform” rating and a $123.00 price target on the stock. Royal Bank of Canada’s target price would suggest a potential downside of 1.17% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley initiated coverage on PACCAR in a report on Monday, January 8th. They set an “overweight” rating and a $125.00 target price for the company. Evercore ISI boosted their price target on PACCAR from $94.00 to $101.00 and gave the company an “in-line” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group boosted their price target on PACCAR from $93.00 to $106.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Bank of America raised PACCAR from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $84.00 to $97.00 in a research note on Friday, January 19th. Finally, JPMorgan Chase & Co. boosted their price target on PACCAR from $116.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Eight analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.39.

PACCAR Stock Up 1.2 %

PCAR opened at $124.46 on Tuesday. PACCAR has a fifty-two week low of $67.48 and a fifty-two week high of $124.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.21 and a current ratio of 2.40. The company has a market capitalization of $65.22 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.92 and a beta of 0.91. The stock has a fifty day moving average of $109.34 and a 200-day moving average of $96.67.

PACCAR (NASDAQ:PCAR) last posted its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.45. PACCAR had a return on equity of 33.17% and a net margin of 13.10%. The company had revenue of $8.59 billion during the quarter, compared to the consensus estimate of $8.48 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. On average, equities analysts expect that PACCAR will post 8.13 EPS for the current year.

Insider Transactions at PACCAR

In other news, VP Todd R. Hubbard sold 4,829 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $102.12, for a total transaction of $493,137.48. Following the sale, the vice president now directly owns 5,726 shares in the company, valued at $584,739.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $102.12, for a total value of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $106.15, for a total value of $212,300.00. Following the completion of the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,496 shares of company stock worth $15,834,812. Insiders own 2.02% of the company’s stock.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently made changes to their positions in PCAR. Prudential PLC acquired a new position in shares of PACCAR in the first quarter worth approximately $763,000. Vanguard Group Inc. lifted its stake in PACCAR by 2.0% in the first quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after buying an additional 698,784 shares during the period. Candriam Luxembourg S.C.A. lifted its stake in PACCAR by 66.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 68,657 shares of the company’s stock valued at $6,046,000 after buying an additional 27,300 shares during the period. Covestor Ltd lifted its stake in PACCAR by 73.6% in the first quarter. Covestor Ltd now owns 2,118 shares of the company’s stock valued at $187,000 after buying an additional 898 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in PACCAR by 0.7% in the first quarter. Mackenzie Financial Corp now owns 106,723 shares of the company’s stock valued at $9,399,000 after buying an additional 792 shares during the period. 64.90% of the stock is owned by institutional investors and hedge funds.

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.