PACCAR's (PCAR) "Hold" Rating Reaffirmed at Truist Financial

PACCAR (NASDAQ:PCAR - Get Free Report)'s stock had its "hold" rating restated by Truist Financial in a report released on Thursday, Benzinga reports. They presently have a $121.00 price target on the stock, up from their prior price target of $117.00. Truist Financial's target price suggests a potential upside of 13.66% from the company's current price.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group lifted their price objective on PACCAR from $106.00 to $121.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. dropped their target price on shares of PACCAR from $140.00 to $130.00 and set an "overweight" rating on the stock in a report on Wednesday. Bank of America upgraded PACCAR from an "underperform" rating to a "neutral" rating and increased their price target for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Royal Bank of Canada started coverage on PACCAR in a research note on Tuesday, March 26th. They issued a "sector perform" rating and a $123.00 price objective on the stock. Finally, UBS Group raised PACCAR from a "neutral" rating to a "buy" rating and raised their target price for the stock from $104.00 to $136.00 in a research note on Friday, March 15th. Eight research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $112.62.

PACCAR Trading Up 0.1 %

NASDAQ PCAR traded up $0.12 on Thursday, hitting $106.46. The company's stock had a trading volume of 3,094,424 shares, compared to its average volume of 2,438,980. The company's 50-day moving average is $116.54 and its 200 day moving average is $102.39. The firm has a market cap of $55.79 billion, a PE ratio of 11.04, a PEG ratio of 1.59 and a beta of 0.96. PACCAR has a 1-year low of $68.40 and a 1-year high of $125.50. The company has a quick ratio of 2.21, a current ratio of 1.69 and a debt-to-equity ratio of 0.54.

PACCAR (NASDAQ:PCAR - Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $2.20 by $0.07. The company had revenue of $8.24 billion for the quarter, compared to analysts' expectations of $8.25 billion. PACCAR had a net margin of 14.30% and a return on equity of 31.71%. PACCAR's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 earnings per share. As a group, analysts predict that PACCAR will post 8.23 earnings per share for the current fiscal year.

Insider Buying and Selling at PACCAR

In other news, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the completion of the sale, the vice president now directly owns 5,726 shares of the company's stock, valued at $607,814.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Harrie Schippers sold 32,797 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $106.08, for a total value of $3,479,105.76. Following the completion of the sale, the chief financial officer now owns 103,547 shares in the company, valued at $10,984,265.76. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Todd R. Hubbard sold 2,000 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,117 shares of company stock valued at $6,510,010. Corporate insiders own 2.02% of the company's stock.

Hedge Funds Weigh In On PACCAR

Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in PACCAR by 18.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 107,018 shares of the company's stock worth $10,450,000 after acquiring an additional 16,360 shares during the period. abrdn plc boosted its holdings in shares of PACCAR by 50.9% in the 4th quarter. abrdn plc now owns 264,756 shares of the company's stock worth $25,853,000 after buying an additional 89,359 shares during the last quarter. Aigen Investment Management LP bought a new position in PACCAR during the third quarter valued at about $319,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in PACCAR by 42.5% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 558,909 shares of the company's stock valued at $47,518,000 after buying an additional 166,628 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in PACCAR by 29.6% during the fourth quarter. Pacer Advisors Inc. now owns 71,727 shares of the company's stock worth $7,004,000 after buying an additional 16,390 shares during the last quarter. Institutional investors own 64.90% of the company's stock.

About PACCAR

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.