PACCAR (NASDAQ:PCAR) Given New $124.00 Price Target at Truist Financial

Key Points

• Truist Financial lowered PACCAR’s price target to $124 from $125 while maintaining a “Hold” rating, implying approximately 21% upside from the reported share price of $102.47.
• PACCAR reported quarterly EPS of $1.61, matching analyst expectations and rising from $1.12 a year earlier; revenue was $7.38 billion, below the $7.48 billion consensus estimate, despite 20.8% year-over-year growth.
• Analyst sentiment remains cautious, with six Buy and eight Hold ratings and an average target price of $133.79. Shares are trading below their 50-day and 200-day moving averages, while company insiders sold approximately $7.6 million of stock over the past 90 days.

PACCAR (NASDAQ:PCAR - Get Free Report) had its price target reduced by equities researchers at Truist Financial from $125.00 to $124.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "hold" rating on the stock. Truist Financial's price objective points to a potential upside of 21.01% from the company's current price.

PCAR has been the topic of a number of other research reports. Wells Fargo & Company set a $122.00 target price on shares of PACCAR and gave the stock an "equal weight" rating in a report on Thursday, October 8th. JPMorgan Chase & Co. lowered their target price on PACCAR from $164.00 to $142.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Morgan Stanley set a $125.00 price target on PACCAR and gave the stock an "equal weight" rating in a research report on Friday, September 4th. Evercore raised their price target on PACCAR from $139.00 to $162.00 and gave the stock an "outperform" rating in a report on Thursday, October 8th. Finally, Citigroup cut their price target on PACCAR from $140.00 to $115.00 and set a "neutral" rating on the stock in a report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $133.79.

PACCAR Stock Performance

Shares of NASDAQ:PCAR traded down $1.26 on Wednesday, reaching $102.47. 1,791,722 shares of the company's stock were exchanged, compared to its average volume of 3,208,265. The firm has a market capitalization of $53.94 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 1.23 and a beta of 0.98. PACCAR has a fifty-two week low of $93.86 and a fifty-two week high of $139.24. The business's 50-day moving average is $116.38 and its two-hundred day moving average is $120.40. The company has a quick ratio of 2.90, a current ratio of 3.12 and a debt-to-equity ratio of 0.49.

PACCAR (NASDAQ:PCAR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The company reported $1.61 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.61. PACCAR had a net margin of 9.00% and a return on equity of 12.73%. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the firm posted $1.12 EPS. The company's revenue for the quarter was up 20.8% on a year-over-year basis. As a group, equities research analysts forecast that PACCAR will post 5.91 EPS for the current year.

Insider Activity

In related news, CEO R Feight sold 50,975 shares of PACCAR stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $133.07, for a total transaction of $6,783,243.25. Following the sale, the chief executive officer directly owned 268,625 shares in the company, valued at $35,745,928.75. The trade was a 15.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brice J. Poplawski sold 1,970 shares of the company's stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $132.50, for a total transaction of $261,025.00. Following the completion of the sale, the chief financial officer directly owned 1,391 shares of the company's stock, valued at $184,307.50. The trade was a 58.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 56,842 shares of company stock worth $7,565,677 over the last ninety days. 1.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On PACCAR

Large investors have recently bought and sold shares of the stock. Compass Financial Management LLC bought a new stake in PACCAR during the second quarter worth approximately $28,000. Paladin Partners LLC bought a new stake in shares of PACCAR in the 2nd quarter worth $27,000. Fiduciary Financial Advisors acquired a new stake in shares of PACCAR in the second quarter valued at $28,000. Continuum Advisory LLC acquired a new stake in shares of PACCAR in the second quarter valued at $29,000. Finally, EFG International AG acquired a new stake in shares of PACCAR in the second quarter valued at $30,000. Institutional investors and hedge funds own 64.90% of the company's stock.

PACCAR News Roundup

Here are the key news stories impacting PACCAR this week:

• Positive Sentiment: Third-quarter net income rose 44% year over year to $847.5 million, while revenue increased approximately 19% to $7.94 billion. The results point to resilient demand for PACCAR’s truck brands and improving profitability. PACCAR: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Management’s earnings-call commentary was broadly upbeat, highlighting strong growth, an anticipated fleet-replacement cycle and a constructive business outlook. PACCAR Earnings Call Highlights Strong Growth And Outlook
• Neutral Sentiment: EPS was $1.61, up from $1.12 a year earlier, but matched the consensus estimate rather than exceeding it. Reported revenue of $7.38 billion in one earnings report was below the $7.48 billion consensus estimate, while other coverage cited revenue of $7.94 billion; investors are therefore focused on the underlying revenue discrepancy and the quality of growth. PACCAR Inc Reports Earnings Results
• Negative Sentiment: Analysts remain cautious. Morgan Stanley maintained a Hold rating with a $125 price target, while Truist reduced its target to $124 from $125, suggesting limited near-term upside and a balanced risk-reward profile. Truist Adjusts Price Target on PACCAR
• Negative Sentiment: The stock is lagging after the report because strong year-over-year growth was largely anticipated; an in-line EPS result and revenue shortfall provide limited evidence of a positive earnings surprise. Shares remain below their 50-day and 200-day moving averages, reinforcing the cautious market reaction. PACCAR Stock Lags Despite Strong Q3 Earnings

PACCAR Company Profile

PACCAR Inc NASDAQ: PCAR is a global manufacturer of heavy- and medium-duty trucks. Through its Kenworth, Peterbilt and DAF brands, the company produces vehicles used for long-haul transportation, construction, distribution and other commercial applications. PACCAR also manufactures PACCAR-branded engines and provides related parts and aftermarket support.

The company's operations extend across North America, Europe, South America, Australia and other international markets. In addition to truck manufacturing, PACCAR operates a worldwide parts distribution network and offers financial services, including retail financing and leasing for trucks and related equipment.

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