PACCAR (NASDAQ:PCAR) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• PACCAR's stock has been reissued a "Buy (B-)" rating by Weiss Ratings, reflecting confidence in the company's performance.
• The company reported $1.37 earnings per share for the last quarter, surpassing analysts' expectations of $1.28.
• Currently, the stock has a consensus rating of "Moderate Buy" with a target price of $107.59 based on multiple analysts' evaluations.

PACCAR (NASDAQ:PCAR - Get Free Report)'s stock had its "buy (b-)" rating reissued by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

PCAR has been the subject of a number of other reports. Evercore ISI set a $114.00 price target on shares of PACCAR and gave the company an "outperform" rating in a research report on Tuesday, August 19th. Wall Street Zen raised shares of PACCAR from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Truist Financial set a $97.00 price objective on shares of PACCAR and gave the company a "hold" rating in a research note on Wednesday. Argus raised shares of PACCAR from a "hold" rating to a "buy" rating and set a $121.00 price objective on the stock in a research note on Monday, July 28th. Finally, UBS Group raised shares of PACCAR from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $81.00 to $100.00 in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $107.59.

PACCAR Stock Down 1.0%

NASDAQ PCAR opened at $95.73 on Wednesday. The company has a current ratio of 3.02, a quick ratio of 2.80 and a debt-to-equity ratio of 0.57. PACCAR has a 1-year low of $84.65 and a 1-year high of $118.81. The company has a 50 day moving average of $98.87 and a 200-day moving average of $95.62. The company has a market cap of $50.27 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 3.94 and a beta of 0.94.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.02 billion. During the same period in the previous year, the business earned $2.13 earnings per share. The firm's quarterly revenue was down 15.7% on a year-over-year basis. On average, equities research analysts expect that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PACCAR news, CEO R Preston Feight sold 39,965 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $99.52, for a total transaction of $3,977,316.80. Following the sale, the chief executive officer owned 223,190 shares of the company's stock, valued at approximately $22,211,868.80. The trade was a 15.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brice J. Poplawski sold 5,000 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $100.94, for a total transaction of $504,700.00. Following the sale, the chief financial officer directly owned 468 shares in the company, valued at approximately $47,239.92. The trade was a 91.44% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.02% of the company's stock.

Institutional Trading of PACCAR

Several institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. grew its stake in shares of PACCAR by 53.8% in the second quarter. Hazlett Burt & Watson Inc. now owns 286 shares of the company's stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of PACCAR by 2.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,759 shares of the company's stock worth $366,000 after purchasing an additional 105 shares during the last quarter. Intellectus Partners LLC grew its stake in shares of PACCAR by 1.0% in the second quarter. Intellectus Partners LLC now owns 10,673 shares of the company's stock worth $1,015,000 after purchasing an additional 109 shares during the last quarter. Farmers & Merchants Investments Inc. grew its stake in shares of PACCAR by 33.1% in the first quarter. Farmers & Merchants Investments Inc. now owns 466 shares of the company's stock worth $45,000 after purchasing an additional 116 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC grew its stake in shares of PACCAR by 1.2% in the second quarter. Focus Partners Advisor Solutions LLC now owns 9,645 shares of the company's stock worth $917,000 after purchasing an additional 116 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.

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