Evercore ISI Issues Pessimistic Forecast for PACCAR (NASDAQ:PCAR) Stock Price

PACCAR (NASDAQ:PCAR - Get Free Report) had its price objective cut by Evercore ISI from $127.00 to $115.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price target would indicate a potential upside of 23.34% from the company's current price.

A number of other brokerages have also commented on PCAR. Melius upgraded shares of PACCAR from a "hold" rating to a "buy" rating in a report on Tuesday, March 18th. Truist Financial cut their price target on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating on the stock in a report on Tuesday, April 8th. UBS Group downgraded shares of PACCAR from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $108.00 to $78.00 in a research note on Monday, April 7th. Citigroup lowered their target price on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada lowered their target price on shares of PACCAR from $106.00 to $97.00 and set a "sector perform" rating for the company in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $104.14.

PACCAR Trading Down 1.2%

Shares of NASDAQ:PCAR traded down $1.09 during mid-day trading on Monday, reaching $93.24. 2,249,642 shares of the company's stock were exchanged, compared to its average volume of 2,772,844. The firm has a market capitalization of $48.95 billion, a price-to-earnings ratio of 11.79, a PEG ratio of 2.77 and a beta of 0.96. The business's fifty day moving average price is $92.82 and its 200-day moving average price is $103.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.39 and a current ratio of 2.54. PACCAR has a twelve month low of $84.65 and a twelve month high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $1.46 EPS for the quarter, missing analysts' consensus estimates of $1.58 by ($0.12). The business had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. PACCAR had a return on equity of 23.53% and a net margin of 12.36%. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.27 EPS. On average, research analysts predict that PACCAR will post 7.57 EPS for the current fiscal year.

Insider Buying and Selling at PACCAR

In related news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction on Tuesday, May 6th. The stock was purchased at an average cost of $89.78 per share, with a total value of $448,900.00. Following the completion of the purchase, the director now owns 13,015 shares in the company, valued at approximately $1,168,486.70. This trade represents a 62.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake in PACCAR by 88.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,853 shares of the company's stock valued at $180,000 after purchasing an additional 869 shares during the last quarter. Focus Partners Wealth boosted its stake in PACCAR by 15.4% during the 1st quarter. Focus Partners Wealth now owns 13,604 shares of the company's stock valued at $1,324,000 after purchasing an additional 1,812 shares during the last quarter. Bayforest Capital Ltd boosted its stake in PACCAR by 234.2% during the 1st quarter. Bayforest Capital Ltd now owns 391 shares of the company's stock valued at $38,000 after purchasing an additional 274 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in PACCAR by 2.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,980,515 shares of the company's stock valued at $290,213,000 after purchasing an additional 82,329 shares during the last quarter. Finally, McIlrath & Eck LLC boosted its stake in PACCAR by 15.3% during the 1st quarter. McIlrath & Eck LLC now owns 29,223 shares of the company's stock valued at $2,845,000 after purchasing an additional 3,877 shares during the last quarter. 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.