PACCAR (NASDAQ:PCAR) Price Target Raised to $112.00

PACCAR (NASDAQ:PCAR) had its price objective raised by equities research analysts at Truist Financial from $110.00 to $112.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 2.65% from the company’s previous close.

A number of other brokerages also recently issued reports on PCAR. Morgan Stanley decreased their price objective on PACCAR from $135.00 to $126.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. BNP Paribas upgraded PACCAR to a “hold” rating in a report on Wednesday, October 16th. Citigroup reduced their price target on PACCAR from $125.00 to $115.00 and set a “neutral” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. increased their price target on PACCAR from $122.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $119.00 price target on shares of PACCAR in a report on Monday, November 4th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $120.13.

PACCAR Price Performance

Shares of NASDAQ PCAR traded down $0.52 during mid-day trading on Thursday, reaching $109.11. The company’s stock had a trading volume of 89,442 shares, compared to its average volume of 1,998,391. The firm has a market capitalization of $57.21 billion, a PE ratio of 12.19, a P/E/G ratio of 1.72 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. The stock has a fifty day moving average of $111.37 and a two-hundred day moving average of $103.89. PACCAR has a 52 week low of $90.04 and a 52 week high of $125.50.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, October 22nd. The company reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.03. The firm had revenue of $8.24 billion during the quarter, compared to analyst estimates of $7.66 billion. PACCAR had a return on equity of 27.24% and a net margin of 13.51%. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.34 earnings per share. As a group, sell-side analysts anticipate that PACCAR will post 7.92 EPS for the current fiscal year.

Insider Transactions at PACCAR

In other news, CEO R Preston Feight sold 27,191 shares of the firm’s stock in a transaction on 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. This trade represents a 13.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Harrie Schippers sold 20,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $106.93, for a total value of $2,138,600.00. Following the completion of the sale, the chief financial officer now directly owns 105,558 shares of the company’s stock, valued at $11,287,316.94. The trade was a 15.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,315 shares of company stock valued at $6,358,552 in the last quarter. 2.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PACCAR

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clarius Group LLC raised its stake in PACCAR by 0.8% in the 4th quarter. Clarius Group LLC now owns 2,329,473 shares of the company’s stock worth $242,312,000 after acquiring an additional 17,499 shares during the last quarter. J2 Capital Management Inc purchased a new position in PACCAR in the 4th quarter worth $525,000. Aaron Wealth Advisors LLC raised its stake in PACCAR by 13.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 5,804 shares of the company’s stock worth $604,000 after acquiring an additional 676 shares during the last quarter. Kera Capital Partners Inc. purchased a new position in PACCAR in the 4th quarter worth $246,000. Finally, HB Wealth Management LLC raised its stake in shares of PACCAR by 9.3% during the 4th quarter. HB Wealth Management LLC now owns 35,661 shares of the company’s stock valued at $3,710,000 after buying an additional 3,046 shares during the last quarter. Hedge funds and other institutional investors own 64.90% of the company’s stock.

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.