PACCAR (NASDAQ:PCAR) Price Target Raised to $155.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $140.00 to $155.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 24.19% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on PCAR. Truist Financial increased their price target on PACCAR from $126.00 to $131.00 and gave the stock a “hold” rating in a report on Thursday, July 2nd. Weiss Ratings cut shares of PACCAR from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 21st. Citigroup reiterated a “neutral” rating and issued a $125.00 target price (down from $130.00) on shares of PACCAR in a report on Thursday, April 30th. BNP Paribas Exane started coverage on PACCAR in a research report on Tuesday, March 31st. They issued a “neutral” rating and a $126.00 target price on the stock. Finally, Wells Fargo & Company set a $125.00 price target on PACCAR and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $123.82.

PACCAR Trading Up 0.2%

Shares of NASDAQ PCAR traded up $0.23 during trading on Monday, hitting $124.81. 561,297 shares of the company were exchanged, compared to its average volume of 3,101,480. The company has a fifty day moving average price of $116.38 and a 200-day moving average price of $119.19. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.91 and a current ratio of 3.11. The firm has a market capitalization of $65.68 billion, a PE ratio of 26.54, a P/E/G ratio of 1.16 and a beta of 0.97. PACCAR has a 12-month low of $92.25 and a 12-month high of $131.88.

PACCAR (NASDAQ:PCAR) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.44 billion. PACCAR had a net margin of 8.91% and a return on equity of 12.81%. PACCAR’s revenue was down 9.8% compared to the same quarter last year. During the same period last year, the business earned $1.46 earnings per share. As a group, equities research analysts expect that PACCAR will post 5.58 EPS for the current year.

Institutional Investors Weigh In On PACCAR

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California Public Employees Retirement System raised its stake in shares of PACCAR by 0.8% during the third quarter. California Public Employees Retirement System now owns 1,075,315 shares of the company’s stock worth $105,725,000 after purchasing an additional 9,045 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in PACCAR by 2.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 413,489 shares of the company’s stock valued at $45,281,000 after buying an additional 9,524 shares during the last quarter. Nordea Investment Management AB increased its stake in PACCAR by 12.6% in the 4th quarter. Nordea Investment Management AB now owns 122,451 shares of the company’s stock valued at $13,487,000 after buying an additional 13,668 shares during the period. Merit Financial Group LLC increased its stake in PACCAR by 165.8% in the 4th quarter. Merit Financial Group LLC now owns 24,319 shares of the company’s stock valued at $2,663,000 after buying an additional 15,169 shares during the period. Finally, Vanguard Group Inc. raised its position in PACCAR by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 63,475,226 shares of the company’s stock worth $6,951,172,000 after buying an additional 363,782 shares during the last quarter. Institutional investors and hedge funds own 64.90% of the company’s stock.

About PACCAR

PACCAR Inc is a global technology leader in the design, manufacture and customer support of light-, medium- and heavy-duty commercial vehicles. The company’s products are marketed under well-known brand names including Kenworth, Peterbilt and DAF and span vocational and long-haul applications. PACCAR’s core business includes vehicle engineering and assembly as well as the supply of components and proprietary powertrain systems designed to meet regulatory and customer performance requirements.

In addition to truck manufacturing, PACCAR operates a comprehensive aftermarket parts business, distributes used trucks and provides commercial vehicle financing and leasing through its financial services operations.