Evercore ISI Lowers PACCAR (NASDAQ:PCAR) Price Target to $115.00

PACCAR (NASDAQ:PCAR - Get Free Report) had its price target cut by investment analysts at Evercore ISI from $127.00 to $115.00 in a report issued on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Evercore ISI's price objective suggests a potential upside of 18.91% from the company's current price.

PCAR has been the subject of several other research reports. StockNews.com raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $108.00 to $78.00 in a research report on Monday, April 7th. Citigroup lowered their price objective on shares of PACCAR from $105.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $105.00 to $90.00 in a research report on Wednesday, April 30th. Finally, Truist Financial lowered their price objective on shares of PACCAR from $113.00 to $104.00 and set a "hold" rating for the company in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $104.14.

PACCAR Stock Performance

PACCAR stock opened at $96.71 on Monday. The firm has a 50 day simple moving average of $93.34 and a 200-day simple moving average of $103.86. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.54 and a quick ratio of 1.39. The stock has a market cap of $50.77 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

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

Insider Activity

In other news, Director Pierre R. Breber acquired 5,000 shares of PACCAR stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $89.78 per share, for a total transaction of $448,900.00. Following the acquisition, the director now owns 13,015 shares of the company's stock, valued at $1,168,486.70. This trade represents a 62.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Harrie Schippers sold 28,676 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $105.97, for a total transaction of $3,038,795.72. Following the completion of the sale, the chief financial officer now owns 114,659 shares in the company, valued at $12,150,414.23. The trade was a 20.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

Hedge funds and other institutional investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of PACCAR by 666.7% in the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 276 shares of the company's stock valued at $27,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. raised its stake in PACCAR by 221.8% during the 4th quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock worth $29,000 after acquiring an additional 193 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in PACCAR during the 1st quarter worth $29,000. Golden State Wealth Management LLC acquired a new stake in PACCAR during the 4th quarter worth $37,000. Finally, Sunbelt Securities Inc. raised its stake in PACCAR by 8,750.0% during the 4th quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock worth $37,000 after acquiring an additional 350 shares in the last quarter. 64.90% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.