PACCAR (NASDAQ:PCAR) Price Target Raised to $97.00 at JPMorgan Chase & Co.

PACCAR (NASDAQ:PCAR - Get Free Report) had its target price increased by JPMorgan Chase & Co. from $95.00 to $97.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 4.37% from the stock's current price.

Several other brokerages also recently commented on PCAR. Evercore ISI lowered their price objective on PACCAR from $127.00 to $115.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Truist Financial lowered their price target on shares of PACCAR from $102.00 to $98.00 and set a "hold" rating on the stock in a report on Wednesday. UBS Group upgraded PACCAR from a "sell" rating to a "neutral" rating and increased their price target for the stock from $81.00 to $100.00 in a research note on Wednesday. Morgan Stanley downgraded shares of PACCAR from an "overweight" rating to an "equal weight" rating and set a $96.00 target price for the company. in a research note on Wednesday, April 16th. Finally, Wall Street Zen downgraded PACCAR from a "hold" rating to a "sell" rating in a research report on Sunday, July 13th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $106.68.

PACCAR Price Performance

NASDAQ:PCAR traded up $0.32 during trading hours on Wednesday, hitting $101.43. The company's stock had a trading volume of 4,415,472 shares, compared to its average volume of 3,303,418. PACCAR has a twelve month low of $84.65 and a twelve month high of $118.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.73 and a quick ratio of 2.19. The stock has a fifty day simple moving average of $94.94 and a 200-day simple moving average of $98.40. The company has a market capitalization of $53.25 billion, a P/E ratio of 17.37, a PEG ratio of 3.83 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.09. PACCAR had a net margin of 9.88% and a return on equity of 18.25%. The company had revenue of $6.96 billion for the quarter, compared to analyst estimates of $7.02 billion. During the same period in the previous year, the firm posted $2.13 EPS. The firm's revenue was down 15.7% on a year-over-year basis. On average, analysts anticipate that PACCAR will post 7.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pierre R. Breber bought 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought 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 directly owned 13,015 shares in the company, valued at $1,168,486.70. This represents a 62.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.02% of the company's stock.

Institutional Investors Weigh In On PACCAR

Large investors have recently added to or reduced their stakes in the company. E Fund Management Hong Kong Co. Ltd. raised its position in PACCAR by 666.7% during 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 during the last quarter. Meeder Asset Management Inc. raised its holdings in shares of PACCAR by 221.8% during the fourth quarter. Meeder Asset Management Inc. now owns 280 shares of the company's stock valued at $29,000 after acquiring an additional 193 shares in the last quarter. Alpine Bank Wealth Management purchased a new stake in PACCAR in the first quarter worth $29,000. Sunbelt Securities Inc. boosted its holdings in PACCAR by 8,750.0% in the fourth quarter. Sunbelt Securities Inc. now owns 354 shares of the company's stock valued at $37,000 after acquiring an additional 350 shares in the last quarter. Finally, Bayforest Capital Ltd increased its position 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 period. 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.