PACCAR (NASDAQ:PCAR) Upgraded at Wall Street Zen

PACCAR (NASDAQ:PCAR - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Citigroup lifted their price target on shares of PACCAR from $95.00 to $100.00 and gave the company a "neutral" rating in a research report on Tuesday, June 24th. UBS Group cut shares of PACCAR from a "neutral" rating to a "sell" rating and dropped their price target for the company from $108.00 to $78.00 in a research report on Monday, April 7th. Melius Research set a $120.00 price target on shares of PACCAR in a research report on Tuesday, March 18th. Truist Financial dropped their price target 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. Finally, JPMorgan Chase & Co. cut shares of PACCAR from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $105.00 to $90.00 in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $104.59.

PACCAR Price Performance

Shares of NASDAQ PCAR opened at $97.28 on Friday. The firm has a 50-day simple moving average of $93.45 and a 200-day simple moving average of $99.19. The stock has a market capitalization of $51.07 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 3.61 and a beta of 0.94. The company has a quick ratio of 2.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.55. PACCAR has a 52 week low of $84.65 and a 52 week high of $118.81.

PACCAR (NASDAQ:PCAR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.58 by ($0.12). PACCAR had a return on equity of 20.79% and a net margin of 10.73%. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.13 billion. During the same quarter in the previous year, the business posted $2.27 earnings per share. PACCAR's revenue for the quarter was down 16.0% on a year-over-year basis. On average, equities analysts predict that PACCAR will post 7.57 earnings per share for the current fiscal year.

Insider Transactions at PACCAR

In other news, Director Pierre R. Breber purchased 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was bought at an average price of $89.78 per share, for a total transaction of $448,900.00. Following the completion of the purchase, the director directly owned 13,015 shares of the company's stock, valued at $1,168,486.70. The trade was a 62.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PCAR. Norges Bank purchased a new position in PACCAR in the fourth quarter worth approximately $526,922,000. Kovitz Investment Group Partners LLC lifted its stake in PACCAR by 370.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,359,095 shares of the company's stock worth $557,453,000 after acquiring an additional 4,219,964 shares during the last quarter. Wellington Management Group LLP lifted its stake in PACCAR by 20.1% in the first quarter. Wellington Management Group LLP now owns 20,177,930 shares of the company's stock worth $1,964,725,000 after acquiring an additional 3,379,165 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in PACCAR in the fourth quarter worth approximately $254,651,000. Finally, Pacer Advisors Inc. lifted its stake in PACCAR by 2,957.4% in the first quarter. Pacer Advisors Inc. now owns 2,110,187 shares of the company's stock worth $205,469,000 after acquiring an additional 2,041,168 shares during the last quarter. Hedge funds and other 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.

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